vaicru

My Scripghght

84 1 2
Code squeeze on varius timeframe
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//@version=2
study("My Scripghght")
plot(close)
//
// @author LazyBear
// List of all my indicators:
// https://docs.google.com/document/d/15AGCufJZ8CIUvwFJ9W-IKns88gkWOKBCvByMEvm5MLo/edit?usp=sharing
// v2 - fixed a typo, where BB multipler was always stuck at 1.5.
//
study(shorttitle = "SQZMOM_LB", title="Squeeze Momentum Indicator ", overlay=false)
useCurrentRes = input(true, title="Use Current Chart Resolution?")
resCustom = input(title="Use Different Timeframe? Uncheck Box Above", type=resolution, defval="D")
length = input(20, title="BB Length")
mult = input(2.0,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)
res = useCurrentRes ? period : resCustom
// Calculate BB
source = close
basis = sma(source, length)
dev = mult * stdev(source, length)
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)

val = linreg(source - avg(avg(highest(high, lengthKC), lowest(low, lengthKC)),sma(close,lengthKC)),
lengthKC,0)

out1 = security(tickerid, res, val)

bcolor = iff( val > 0,
iff( val > nz(val), lime, green),
iff( val < nz(val), red, maroon))
scolor = noSqz ? blue : sqzOn ? black : gray


//bgcolor(white,transp=85)
plot(out1, color=bcolor, style=histogram, linewidth=4)
plot(0, color=scolor, style=cross, linewidth=2)
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