In fact, I wrote this script for detect and Bands squeeze.
It's a side script.
Logic works like this:
Only the stagnant market probability is drawn from the bandwidth by Dependent Variable Odd Generator and index is calculated taking into account the .
This value ranges from 0 to 100.
To be sure, this value is averaged over a small period.
If you break the average and exceed 50, the is too narrow and the risk is too high.
This means more commissions, more transactions, and vain work.
Or, when in position, the warning is not ignored due to unnecessary signals.
This code is open source under the MIT license. If you have any improvements or corrections to suggest, please send me a pull request via the github repository https://github.com/user-Noldo
Stay tuned , best regards.
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.