Fixed a typo in the code where BB multiplier was stuck at 1.5. Thanks @ucsgears for bringing it to my notice. Updated source: http://pastebin.com/UCpcX8d7 Use the updated source instead of the what TV shows below. This is a derivative of John Carter's "TTM Squeeze" volatility indicator, as discussed in his book "Mastering the Trade" (chapter 11). Black crosses on the midline show that the market just entered a squeeze (Bollinger Bands are with in Keltner Channel). This signifies low volatility, market preparing itself for an explosive move (up or down). Gray crosses signify "Squeeze release". Mr.Carter suggests waiting till the first gray after a black cross, and taking a position in the direction of the 
