Leonidas Squeeze Momentum System

This indicator is based on LazyBear SQ Momentum Indicator and SQ Plus Indicator.

This indicator is using ADX and Squeeze Momentum Indicator.

When you see the ADX above 0 line and the slop is positive that means the trend is strong

When the ADX is below 0 line and the trend is weak you will see the slop negative and the color gray

When we see the SQ changing the color from Red to Yellow that means the sell pressure is decreasing this could be a potential buy signal

When we see the color changing from blue to dark blue that means the buy pressure is decreasing this could be a a potential sell signal

Bull/Bear divergences supported

Added SQ signal
this signal is an exponential moving average following the SQ main signal useful for filtering fake signals.

This indicator is very powerful but offers many fake signals it is recommended using this indicator with other indicators to confirm the entries

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Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.


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