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[fantastic4]

I've got it free for thinkorswim, if you know how to write code I guess you could tweak it for esignal, quote tracker, or sierra charts.

I don't think I"ve enough post to post a link yet, so I'll come back in a bit with the link.

[fantastic4]

It can be used for futures, forex, equities, and cost five hundred bucks, but the code floats around the web. They originally stole it themselves, and packaged it, so don't worry about a guilty conscience. It's not the holy grail, but can be quite useful.

[fantastic4]

Basically, it shows when price is about to fire off in some direction.

[fantastic4]

It's most powerful on longer time frames, the weekly is the most accurate, but hard to use.

[fantastic4]

So without further ado, I've got 15 post now so I can post the link, whoo hoo, here it is, for free, the one, the only, squeeze indicator:

All that and I can't find the darn link. Well, here's the code without the link:

declare lower;
input Length = 20;
input price = close;
######################
def e1 = (Highest(High, length) + Lowest(low, length)) / 2 + Average(close, length);
def osc = Inertia(price - e1 / 2, length);
plot oscp = osc;
def diff = reference BollingerBandsSMA(length = 20)."upperband" - reference KeltnerChannels."Upper_Band";
plot mid = 0;
mid.AssignValueColor(if diff >= 0 then Color.UPTICK else Color.DOWNTICK);
#oscp.assignValueColor(if osc[1] < osc[0] then Color.CYAN else Color.magenta);
oscp.AssignValueColor(if osc[1] < osc[0] then
if osc[0] >= 0 then
#UpPos
CreateColor(0, 255, 255) else
#UpNeg
CreateColor(204, 0, 204)
else if osc[0] >= 0 then
#DnPos
CreateColor(0, 155, 155) else
#DnNeg
CreateColor(255, 155, 255));
oscp.SetPaintingStrategy(PaintingStrategy.HISTOGRA M);
mid.SetPaintingStrategy(PaintingStrategy.POINTS);

Just copy and paste into the TOS study editor, let me know if you have any problems. As far as coding into other programs I have no idea. I spent a week trying and couldn't figure it out.

[nick_l]

What is the criteria you're looking for in this indicator? It seems like a volatility breakout of some sort.

[fantastic4]

Hey Nick, it does look for volatility break outs. When the bolinger bands are inside the keltner channels, it forms a squeeze, then the squeeze fires off when the bands move out of the channel.