OPEN-SOURCE SCRIPT
Updated Squeeze Momentum Indicator [LazyBear] added Alerting + webhook
A modified version of Squeeze Momentum Indicator visualizing on Price Chart.
author: LazyBear, modified by KivancOzbilgic, and by dgtrd
I took in all of the information as the script below is based on the V2 Script that LazyBear posted and then added Alerting based on the math and the conditions that dgtrd added.
Per the description here:![Squeeze Momentum Indicator [LazyBear] vX by DGT](https://tradingview.sweetlogin.com/proxy-s3/d/Dsr7B2xE_mid.png)
The Squeeze Indicator measures the relationship between Bollinger Bands and Keltner's Channels to help identify consolidations and signal when prices are likely to break out (whether up or down).
The Squeeze Indicator finds sections of the Bollinger Bands which fall inside the Keltner's Channels, and in this case, the market is said to be in a squeeze (indicator turns off, displayed with grey diamond shapes in this study).
When the volatility increases, so does the distance between the bands. Conversely, when the volatility declines, the distance also decreases, and in such cases, the squeeze is said to be released (indicator turns on, displayed with triangle up or triangle down shapes)
Taking the above information and what was in the script was able to base the alert conditions:
So when the condition:
Squeeze On or No Squeeze = In Squeeze
Squeeze Off = Squeeze Release Long or Squeeze Release Long based off conditions.
There are 2 separate alert Types.
1. App, Pop-up, eMail, play sound and Send email to SMS
2. It Is dedicated to Webhook for your various applications.
Alerting Options
[img]i.imgur.com/kq21oVM.png[/img]
App Notification
[img]i.imgur.com/DYjtTal.png[/img]
[img]i.imgur.com/Sm0RpBr.png[/img]
Webhook test into Discord
[img]i.imgur.com/0xb1ukc.png[/img]
author: LazyBear, modified by KivancOzbilgic, and by dgtrd
I took in all of the information as the script below is based on the V2 Script that LazyBear posted and then added Alerting based on the math and the conditions that dgtrd added.
Per the description here:
The Squeeze Indicator measures the relationship between Bollinger Bands and Keltner's Channels to help identify consolidations and signal when prices are likely to break out (whether up or down).
The Squeeze Indicator finds sections of the Bollinger Bands which fall inside the Keltner's Channels, and in this case, the market is said to be in a squeeze (indicator turns off, displayed with grey diamond shapes in this study).
When the volatility increases, so does the distance between the bands. Conversely, when the volatility declines, the distance also decreases, and in such cases, the squeeze is said to be released (indicator turns on, displayed with triangle up or triangle down shapes)
Taking the above information and what was in the script was able to base the alert conditions:
So when the condition:
Squeeze On or No Squeeze = In Squeeze
Squeeze Off = Squeeze Release Long or Squeeze Release Long based off conditions.
There are 2 separate alert Types.
1. App, Pop-up, eMail, play sound and Send email to SMS
2. It Is dedicated to Webhook for your various applications.
Alerting Options
[img]i.imgur.com/kq21oVM.png[/img]
App Notification
[img]i.imgur.com/DYjtTal.png[/img]
[img]i.imgur.com/Sm0RpBr.png[/img]
Webhook test into Discord
[img]i.imgur.com/0xb1ukc.png[/img]
Release Notes
Fixed some comments Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.