Indicators: TTMS

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TTMS:

John Carter TTM Squeeze - an indicator of trend zones. The indicator is drawn as a histogram with signal labels along the center line. It has seven configurable parameters:
  • BB period - Bollinger Bands calculation period;
  • BB deviation - Bollinger Bands deviation;
  • Keltner period - Keltner Bands calculation period;
  • Keltner smooth period - Keltner Bands smoothing period;
  • Keltner smooth method - Keltner Bands smoothing method;
  • Keltner deviation - Keltner Bands deviation;
  • Signal label size - the size for signal labels.
Interpretation: when the signal labels are colored, it means a trading zone is found. Trades should be performed in accordance with direction indicators, the moving average, the intersection of Bollinger Bands or MAs, etc.

Author: Scriptor

 

Good day! I think that the standard parameters of the indicator are incorrect (or there are some problems with the code). The original TTM Squeeze looks different (I compared it with Thinkorswim, they use this indicator under the author's licence). Flat zones should be less frequent, in trends the oscillator should follow the trend direction. In the above examples, the trading zones are small and the oscillator is going down in some places, although the trend is steadily going up at the same time.

 
Excellent. Thanks for sharing!
 
A completely wrong indicator, from the word go.
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