This indicator plots a TTM Squeeze momentum oscillator in a separate pane. It compares a Bollinger Band offset to a Keltner Channel offset and marks the zero line white when the difference is non-negative and black when the bands are inside the channel. A line
Indicator · Pine Script v4 · Own pane
Monitor Armónico
A separate-pane indicator that combines a squeeze momentum histogram with an ADX-style line.
GitHub stars1on the repository
Pine versionv4older, still runs
Lines of code139
Settings13inputs
LicenceNone stated
Last update4 years ago16 Feb 2022
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
The histogram is a linear regression of price against a channel midline and is coloured by direction and strength, while cross markers on the zero line show whether Bollinger Bands sit inside Keltner Channels. Settings change the band and channel lengths and multipliers, the true range option and the ADX scaling. A higher-timeframe monitor is mentioned in the code, but the supplied source is cut off, so that part is not described. It gives no entry or exit rules.
- Squeeze momentum histogram with four colours
- Bollinger and Keltner squeeze markers
- ADX-style line scaled to momentum
- Optional higher-timeframe monitor
Details
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Mostrar monitor principal | bool | true | showMonitorPrincipal |
| Mostrar monitor de temporalidad superior | bool | true | showMonitorSuperior |
| Mostrar Squeeze | bool | true | showSqueeze |
| BB Length | int | 20 | length |
| BB MultFactor | float | 2.0 | mult |
| KC Length | int | 20 | lengthKC |
| KC MultFactor | float | 1.5 | multKC |
| Use TrueRange (KC) | bool | true | useTrueRange |
| Mostrar ADX | bool | true | showAdx |
| ADX | int | 14 | lensig |
| Key | int | 23 | key |
| Scala | int | 14 | scale |
Show all 13 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| dx | int | 0 | dx |
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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