OPEN-SOURCE SCRIPT
Squeeze Momentum Indicator by NARSA
This Pine Script is the "Squeeze Momentum Indicator [NARSA]," designed to identify potential breakouts by combining Bollinger Bands and Keltner Channels. It highlights "squeeze" conditions (low volatility) and uses color-coded bars to show momentum shifts, with additional visual cues like background highlights and a zero line for better clarity.thanks by NARSA
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.
Want to use this script on a chart?
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.