This indicator plots a TTM Squeeze momentum oscillator and a MACD line in a separate pane. It builds the squeeze oscillator from a linear regression of price against a high-low and simple moving average midpoint, and colors the area by slope and sign. Circles
Indicator · Pine Script v4 · Own pane
(JS) Squeeze Pro 2
This indicator is built for a separate pane and compares Bollinger Bands with three Keltner Channel widths to mark low, mid, and high squeeze conditions.
GitHub stars1on the repository
Pine versionv4older, still runs
Lines of code218
Settings10inputs
LicenceNone stated
Last update2 years ago2 Mar 2024
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
Length, price source, and moving-average type for both calculations are selectable among SMA, EMA, WMA, VWMA, and RMA. Optional settings draw divergence, tint the pane background, show zero-line dots, and color a low squeeze white. It does not define entries, exits, or stops. The excerpt ends before the squeeze momentum series and plots are fully written.
- Bollinger Bands versus three Keltner widths
- Selectable SMA EMA WMA VWMA and RMA
- Optional divergence drawing
- Dark-mode background tint
- Low squeeze white coloring
Details
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Squeeze Input | source | close | src |
| Length | int | 20 | length |
| Bollinger Bands Calculation Type | string | SMA | bbmatype |
| Keltner Channel Calculation Type | string | SMA | kcmatype |
| Color Format | int | 2 | color_1 |
| Draw Divergence | bool | false | drdiv |
| Background Off | bool | false | bgoff |
| Gray Background for Dark Mode | bool | true | darkm |
| Zero Line Dots | bool | false | zerold |
| Low Squeeze White | bool | true | lowsqzwht |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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