Squeeze Momentum Indicator by mh
- Indicadores
- Versão: 1.3
- Ativações: 10
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 momentum (for ex., if momentum value is above zero, go long). Exit the position when the momentum changes (increase or decrease --- signified by a color change). My (limited) experience with this shows, an additional indicator like ADX / WaveTrend, is needed to not miss good entry points. Also, Mr.Carter uses simple momentum indicator , while I have used a different method (linreg based) to plot the histogram.
Before purchasing any EA, please conduct a backtest, as its effectiveness can fluctuate based on factors like market conditions, volatility, and different trading strategies. While some traders may find success with it, others may not experience the same results. It’s essential to take your own risks.
By purchasing this EA, you acknowledge that you have backtested it and believe that it performs effectively
