Statistically, Squeeze fires in the direction of strength (Up or Down). By replacing the Rate of Change with Bollinger Band % BB, allows us to easily pick the direction to trade the Squeeze. With the knowledge of Price Pattern, it makes it even easier.

I have identified 4 Setups that works wells with this. I will let you explore and comment. Could possibly initiate arguments and can identify a few more.

Nothing is perfect, but probable.

Using this with the Timing V1 Signals - It is easier to sneak in. More variations to this in future. Will need time to backtest other variations.
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// Variation - Lazybear Squeeze Indicator
// Recreated and Modified by UCSgears
// Replaced the momentum indicator 

study(shorttitle = "UCS_SQUEEZE_Timing_V2", title="Squeeze Momentum Timing and Direction", overlay=false)

lengthBB = input(20, title="BB Length")
multBB = input(2,title="BB MultFactor")
lengthKC=input(20, title="KC Length")
multKC = input(1.5, title="KC MultFactor")

useTrueRange = input(true, title="Use TrueRange (KC)", type=bool)

// Calculate BB
source = close
basis = sma(source, lengthBB)
dev = multBB * stdev(source, lengthBB)
upperBB = basis + dev
lowerBB = basis - dev

// Calculate KC
ma = sma(source, lengthKC)
range = useTrueRange ? tr : (high - low)
rangema = sma(range, lengthKC)
upperKC = ma + rangema * multKC
lowerKC = ma - rangema * multKC

sqzOn  = (lowerBB > lowerKC) and (upperBB < upperKC)
sqzOff = (lowerBB < lowerKC) and (upperBB > upperKC)
noSqz  = (sqzOn == false) and (sqzOff == false)

bbr = ((source - lowerBB)/(upperBB - lowerBB))-0.5

val = sma(bbr,20)

bcolor = iff( val > 0, 
            iff( val > nz(val[1]), green, blue),
            iff( val < nz(val[1]), red, orange))
scolor = noSqz ? blue : sqzOn ? red : green 
plot(val, color=bcolor, style=histogram, linewidth=3)
plot(0, color=scolor, style=circles, linewidth=3)


I believe the histogram is not representing momentum... just reconfirming...
Version 2 is a bit outdated. I am on Version 8. Optimized Further to just provide the interesting squeezes.

Version 2 uses Bollinger Band Ratio for the Momentum.
holy molly.. V8.. where r the other V's... V7,V6,V5,V4,V3... can I have a look at V7.. or V6...
Thanks for the reply.. Appreciate it..
Development version of V8. Not complete. The goal is to convert this to a strategy, with Defined Entry and Exit.

oooooooooooo.. that looks something tasty.... good work mate...
A sneak peak at the new version squeeze indicator will be available, soon i can feel more confident with it. This version will have Squeeze Intensity Levels (colored Squeeze Dots) and will give an important piece of information which i will explain, when I post the indicator. https://www.tradingview.com/x/WXGRXIpS/https://www.
Here is the 50/50 fire probability trade.
ucsgears ucsgears
Accidentally, I did not hide the alert line. Doesn't mean anything.
ucsgears ucsgears
The 50/50 -
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