Thanks to and for contributing to the community and keeping their code open. I would like to give credits to other authors, for the sections of code that I have used to make this technical indicator. The main objective of having merged them into one is to make their reading more agile and comfortable and thus improve the decision-making capacity of the trader who wishes to use them. I've added and removed the above flags as I needed to query them (which became tedious for me). *You can see this setting in the second panel. Waves, and importantly, change the Linear Momentum value to 12 (this configuration can be found in his book). ![]() ![]() To configure the indicator in the same way that Carter does, it would be enough to turn off the ADX, turn on the Squeeze Momentum signals along with the T.T.M. This market reading is based on Price Volatility (Bollinger Bands and Keltner Channels interaction) and its Trend (Exponential Moving Averages), showing entries at times when price volatility is low and taking filtering active trend using T.T.M. This strategy can be consulted either in John F. Strategy 2) Squeeze Momentum and Trade The Market Waves: *You can see this setting in the first panel. Anyway you can adjust the input data according to your interest. This strategy is taught by Jaime Aibsai, which determines market entries based on reading the direction of the price movement (Directionality of the Oscillator) along with the strength of the Oscillator (Slope of the ADX).īoth tools are configured according to Jaime Abisai's strategy, by default (note that point 23 of the ADX is represented by point 0 on the panel, to make reading easier, its interpretation is not affected). Strategy 1) Squeeze Oscillator and Average Directional Index: ![]() The signals are not completely reliable so it must be used in conjunction with other indicators or analysis that allows the trader to filter the signals in a better way.This indicator aims to combine two good performing strategies, which can be used separately or together, mainly for investment positions, although it can also be used for intraday trading. The greater temporality is calculated by multiplying the current temporality, for example 1 hour, multiplied by 4, then the greater squeeze temporality will give the momentum of the 4-hour temporality, that the greater momentum will always be four times greater than the current temporality, although this can be changed in the settings. Its main characteristic is that it provides a signal to the trader in the form of a symbol on the starter, when the indicator shows a green alert it means that both indicators are in a bullish direction so there is a probability that the price will rise, while a red symbol indicates that both temporalities show a bearish direction, so a bearish movement is more likely In this way it allows to operate in the direction of the greater temporality but with the impulse of the current movement of the graph. The squeeze momentum PRO is a modification of an existing script that allows you to see the market movements in the form of waves, this indicator allows you to use two squeezes in a chart, the first corresponding to the current timeframe and the second to a greater timeframe. I am not the author of the original script from which this indicator was based, the script was based on the Squeeze Momentum Indicator by the author LazzyBear
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