Sqzmom Indicator Lazybear Alert Condition: Look At The Simple Moving Formula Click Here. If neither condition is met, then there is no squeeze. If the opposite is true, then the squeeze is considered “off”. If the lower BB is higher than the lower KC and the upper BB is lower than the upper KC, the script considers that a “squeeze” is happening. The script calculates the BB and KC for the given parameters and then checks if the price is inside the BB and KC bands. It also checks whether the price is inside the BB and KC bands to determine whether a “squeeze” is happening or not. Then, the script calculates the BB and KC for the given parameters using the SMA ( simple moving average) and stdev (standard deviation) functions. The script first defines the input parameters for the length and multiplier factors for the BB and KC, as well as an option to use the True Range instead of the high-low range when calculating the KC. The script works by combining two popular technical indicators, Bollinger Bands (BB) and Keltner Channels (KC), to identify periods of consolidation in the market. If there is no squeeze, the cross is blue, if the squeeze is on, it’s black, and if the squeeze is off, it’s gray. The indicator also plots a cross at the zero level to indicate whether the squeeze is on or off. There is also an option to use the True Range instead of the high-low range when calculating the KC. The script has several input parameters that allow the user to customize the length and multiplier factors for both the BB and KC. The Pine language is specifically designed for creating custom indicators and strategies on the TradingView platform. The code was written using the TradingView scripting language, which is a version of the Pine programming language. Squeeze Momentum Indicator Lazybear Code Explanation: When the squeeze ends, either the BB breaks above the upper KC or below the lower KC, and the state is represented by blue crosses on the chart.įinally, the SQZMOM calculates a value based on the difference between the security’s price and its moving averages over a user-defined length (default 20), and colors the histogram bars green if the value is positive and increasing, red if the value is negative and decreasing, lime if the value is positive and increasing faster than the previous bar, and maroon if the value is negative and decreasing faster than the previous bar. This state is represented by black crosses on the chart. The squeeze momentum indicator lazybear then checks if the BB and KC are in a squeeze state, where the lower BB is above the lower KC and the upper BB is below the upper KC. The KC is calculated as the moving average of the close price plus or minus the range (true range or high minus low, depending on user input) multiplied by the multiplier. To calculate the KC, the S queeze Momentumuses the same user-defined length (default 20) and a user-defined multiplier (default 1.5). Look At Simple Moving Average Formula Explanation Click Here The BB is calculated as the basis (simple moving average of the close price) plus or minus the deviation (standard deviation of the close price multiplied by the multiplier). To calculate the BB, the sqzmom indicator uses the close price of the security, a user-defined length (default 20), and a user-defined multiplier (default 2.0). The SQZMOM calculates a value based on the difference between the security’s price and its moving averages, and uses this value to color the histogram bars in green or red, depending on the direction of the momentum. During low volatility periods, the BB and KC will converge, indicating a squeeze in price action. The Squeeze Momentum Indicator combines two popular indicators, the Bollinger Bands (BB) and the Keltner Channel (KC), to identify periods of low volatility, which often precede periods of high volatility and price movement. It was developed by LazyBear and is available on the TradingView platform. The Squeeze Momentum Indicator Lazybear (SQZMOM) is a technical analysis tool used to identify potential changes in a security’s price momentum. By sajeed Alert Pinescript Code, Bollinger Bands, boolean input, dnTrend, Keltner Channels, Pine language, Simple Moving Average, squeeze momentum, Squeeze Momentum Indicator, squeeze momentum indicator lazybear, SQZMOM, sqzmom indicator
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