UCS Squeeze Bar — Indicator by UDAY_C_Santhakumar

This indicator is a request from tvmember jackvmk. Credits to jackvmk.

Squeeze bar = a bar which encompasses 5, 10, 15, 20, 30, 40 SMA
Squeeze bars high and lows are support and resistance. when price break one of them, this direction is direction of explosion.

I have added a further more customization
1. Using EMA instead of SMA
2. Using Heikin Ashi Optimization
3. Using Realbody (ignore wicks)
4. Plot the MA Ribbon

Uday C Santhakumar

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.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Want to use this script on a chart?

study(title="Squeeze Bar", shorttitle="Sqz Bar", overlay=true)

useHAC = input(true, title = "** Select this When Using Optimized Squeeze **", type=bool)
userb = input(true, title = "Ignore Wicks", type = bool)
plma = input(true, title = "Plot Moving Averages", type = bool)
masl = input(false, title = "Use EMA instead of SMA", type = bool)

// Heikin Ashi ATR Calculations
haclose = ohlc4
haopen = na(haopen[1]) ? (open + close)/2 : (haopen[1] + haclose[1]) / 2
hahigh = max (high, max(haopen,haclose))
halow = min (low, min(haopen,haclose))
haatra = abs(hahigh - haclose[1])
haatrb = abs(haclose[1] - halow)
haatrc = abs(hahigh - halow)
haatr = max(haatra, max(haatrb,haatrc))

src = useHAC ? haclose : close
sro = useHAC ? haopen : open

// MA Calculations
ma1 = masl ? ema(src,5) : sma(src,5)
ma2 = masl ? ema(src,10) : sma(src,10)
ma3 = masl ? ema(src,15) : sma(src,15)
ma4 = masl ? ema(src,20) : sma(src,20)
ma5 = masl ? ema(src,30) : sma(src,30)
ma6 = masl ? ema(src,40) : sma(src,40)

// High and Low
rblow = userb ? min(src, sro) : low
rbhig = userb ? max(src, sro) : high

// Squeeze Bar
sqzbar = (ma1 > rblow and ma1 < rbhig) and (ma2 > rblow and ma2 < rbhig) and (ma3 > rblow and ma3 < rbhig) and (ma4 > rblow and ma4 < rbhig) and (ma5 > rblow and ma5 < rbhig) and (ma6 > rblow and ma6 < rbhig)

// Bar Coloring
barcolor(sqzbar ? yellow : na)

// Ploting
plot(plma ? ma1 : na, title = "Moving Average", color = red, linewidth = 1)
plot(plma ? ma2 : na, title = "Moving Average", color = red, linewidth = 1)
plot(plma ? ma3 : na, title = "Moving Average", color = red, linewidth = 1)
plot(plma ? ma4 : na, title = "Moving Average", color = green, linewidth = 3)
plot(plma ? ma5 : na, title = "Moving Average", color = blue, linewidth = 2)
plot(plma ? ma6 : na, title = "Moving Average", color = gray, linewidth = 3)