OPEN-SOURCE SCRIPT
[LazyBear] SQZ Momentum + 1st Gray Cross Signals ━ whvntr
Updated
I have modified LazyBears Squeeze Momentum Indicator with enhancements, plus added signals
LazyBear mentioned that in John F. Carter's book, Chapter 11, "Mastering the Trade", that "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)." I have done just that. Now at each "first gray after a black cross", there are now Bearish and Bullish signals.. The signals only appear in the direction of the momentum.
Disclaimer: This indicator does not constitute investment advice. Trade at your own
risk with this method of identifying changes in stock market momentum.
https://www.tradingview.com/x/VEsGNJjo/
LazyBear mentioned that in John F. Carter's book, Chapter 11, "Mastering the Trade", that "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)." I have done just that. Now at each "first gray after a black cross", there are now Bearish and Bullish signals.. The signals only appear in the direction of the momentum.
Disclaimer: This indicator does not constitute investment advice. Trade at your own
risk with this method of identifying changes in stock market momentum.
https://www.tradingview.com/x/VEsGNJjo/
Release Notes
Tooltip updated (Show/Hide Bearish/Bullish) It now says: For a multi-sourcehistogram, hide signal groups and move indicator
to a new pane
Release Notes
Updated code notesRelease Notes
An attempt to rename the title to: 1st Gray Momentum Signals + SQZ Mom [LazyBear] ━ whvntrRelease Notes
Great new feature: Adjust the length of the arrows in the Inputs Menu.I just made the option to shorten the length of the arrows...Enjoy!
As a note... if found no reference on the internet on how to accomplish this..
I, through trial and error, developed a path to display text via input.string in the code.
Fellow coders of Pine will appreciate this.
Release Notes
Input arrangements Release Notes
Font adjustments Release Notes
Updated histogram bool value to trueRelease Notes
Added arrow adjustments to the top of the menu..plus restored default settings Release Notes
Added Inlines to the Inputs MenuRelease Notes
Added background highlightsRelease Notes
Adjusted inlines Release Notes
Alerts tested and active. To use: click 🕘Alert + Condition + SQZ_MULT + (1st Gray Cross Longs or Shorts) + Trigger: "Once Per Bar Close" Background highlight feature can now be used separately.
Release Notes
New chart photo for new additions Release Notes
Minute adjustmentRelease Notes
Alerts UpdatedRelease Notes
Menu arrangementsRelease Notes
Additional alert conditions Release Notes
Multipurpose background highlightshttps://www.tradingview.com/x/9aM3Ff0a/
Release Notes
Alert messages updatedOpen-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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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.