Modified version of Squeeze Momentum Indicator including line graph of the main indicator instead of using a Histogram and a second Signal line (5 bars SMA of the original line) to provide visual BUY/SELL signals
BUY when Blue crosses ABOVE the RED signal line SELL when Blue crosses BELOW the RED signal line
author: LazyBear modified by: KıvanÇ @fr3762 on twitter (tweets are only in TURKISH)
TURKISH EXPLANATION:
Orijinal indikatördeki histogram yerine çizgi grafiği alınarak bu grafiğin 5 barlık basit hareketli ortalaması sinyal çizgisi olarak eklendi.
Al Koşulu: Mavi çizginin Kırmızıyı yukarı kesmesi Sat koşulu: Kırmızı çizginin Maviyi yukarı kesmesi
I think there is an error in the Squeeze Momentum indicator, originally made by LazyBear and copied here. The variable 'mult' is never referenced, and instead multKC is used for the Bollinger Bands, ignoring the user supplied value.
I believe line 19 here should read:
dev = mult * stdev(source, length)
varunmalhotra21
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WHAT DOES THE GREY OR BLACK + SIGN INDICATE
Frazep
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@varunmalhotra21, when there is a squeeze in the market. If you put bollinger bands on the chart you would see that price is being squeezed. It acts as a filter for when to take a trade. If it gives a buy cross i wouldn't take the trade when the + symbol is black, wait til it turn lighter grey to suggest the squeeze has been released.
PaulLandowski
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This is amazing! Used alongside a couple of other indicators, now I don't see how I can lose! Thank you so much for this, from New York!
MurrayStonks
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@PaulLandowski, Any chance you could elaborate on some of your strategy combining with this indicator? :)
RNavega
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@MurrayStonks, there's a video showing how to use the original LazyBear version (as the version on this page is a modification by KivancOzbilgic). Anyway, search for "Squeeze Momentum trading beacon" on YouTube, it will take you to a video explaining how to use it.
Podnimatelj
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@PaulLandowski, what are those other indicators ? still using them ?
sayitcan08
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kıvanc hocam sanırım bu daga güzel olmuş benım hoşuma gıttı garan 5 dk halı cok guzel bnce denemelisiniz
I believe line 19 here should read:
dev = mult * stdev(source, length)