OPEN-SOURCE SCRIPT
Squeeze Momentum Scanner (LazyBear)
Objective: Identify stocks exhibiting a squeeze condition, indicating potential breakouts.
Scanner Criteria:
Squeeze Condition: Bollinger Bands are within Keltner Channels.
Momentum Shift: Transition from negative to positive momentum bars (for bullish setups) or positive to negative (for bearish setups).
Red Histogram: Indicates a squeeze is on (potential breakout setup).
Green Histogram: Squeeze has released.
Momentum Line: Green for bullish momentum, red for bearish.
Scanner Criteria:
Squeeze Condition: Bollinger Bands are within Keltner Channels.
Momentum Shift: Transition from negative to positive momentum bars (for bullish setups) or positive to negative (for bearish setups).
Red Histogram: Indicates a squeeze is on (potential breakout setup).
Green Histogram: Squeeze has released.
Momentum Line: Green for bullish momentum, red for bearish.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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