Squeeze Momentum Signal Overlay [GN]

Companion script for Squeeze Momentum Indicator that plots the signal on chart.

Release Notes:

Squeeze Momentum Indicator shows when Bollinger Bands squeeze into the Keltner Channel. When this condition is met, price consolidation is typically followed by a move up or down. The histogram in the indicator helps predict direction of the price action breakout. If the histogram is flipping from red to green, the signal is bullish. If the histogram is flipping from green to red, the signal is bearish.

This is a companion script that overlays the squeeze signals onto a chart.

Release Notes:

This script includes the direction of momentum using Red-Green triangles. A bullish signal occurs when the SqueezeOn triangle is Red and the Release triangle is Green; a bearish signal occurs when the SqueezOn triangle is Green and the Release triangle is red.