Also, Mr.Carter uses simple momentum indicator, while I have used a different method (linreg based) to plot the histogram. Regardless, we can also consider the squeeze indicator as a momentum indicator, as many traders use it to identify the direction and strength of price moves. My (limited) experience with this shows, an additional indicator like ADX / WaveTrend, is needed to not miss good entry points. Squeeze momentum introduced by John Carter, the squeeze indicator for MT5 represents a volatility-based tool. Also, Mr. My (limited) experience with this shows, an additional indicator like ADX / WaveTrend, is needed to not miss good entry points. Exit the position when the momentum changes (increase or decrease - signified by a color change). Exit the position when the momentum changes (increase or decrease signified by a color change). Attached File (s) bbsqueeze.zip 1 KB 7,415 downloads. I've got someone porting it to MT4, but don't know when it will be ready. Mr.Carter suggests waiting till the first gray after a black cross, and taking a position in the direction of the momentum (for ex., if momentum value is above zero, go long). I have the TTM colour bar code, but I'm afraid that's in Amibroker code format. This signifies low volatility, market preparing itself for an explosive move (up or down). This is a derivative of John Carter's "TTM Squeeze" volatility indicator, as discussed in his book "Mastering the Trade" (chapter 11).īlack crosses on the midline show that the market just entered a squeeze (Bollinger Bands are with in Keltner Channel). Use the updated source instead of the what TV shows below. Fixed a typo in the code where BB multiplier was stuck at 1.5.
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