This screener returns John Carters squeeze indicator that have left a “squeezed state”.
The indicator goes from red to green, meaning that it Bollinger bands are going from inside the Keltner channel to outside.
This indicates more volatility could be expected going forward.
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// Indata DUpperKC = exponentialaverage [20](close) + 1.5*averagetruerange[20](close) DLowerKC = exponentialaverage [20](close) - 1.5*averagetruerange[20](close) BolUp = BollingerUp[20](close) BolDown = bollingerdown[20](close) // Check bollinger bands inside Keltner chanel c1 = bolup[1] < DUpperKC[1] c2 = boldown[1] > DLowerKC[1] // Check bollinger band outside Keltner chanel c3 = bolup > DUpperKC c4 = boldown < DLowerKC fired = c3 or c4 //Check if trend is weak adx14 = adx[14] < 20 // Return squeeze fired and weak trend screener[c1 and c2 and fired and adx14] |
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An answer to a query that has been posted in the squeeze indicator: https://www.prorealcode.com/prorealtime-indicators/ttm-squeeze-oscillator-price-version/#comment-4334
To get a “fired” that occurred during the last 5 bars, the line 14 could be changed to
fired = highest[5](c3 or c4)=1
Of course the “5” bars lookback quantity could be changed to any other value.