Squeeze Light
November 7, 2017, 4:34 PM
Indicators
3 Comments
Another “Squeeze” indicator that plot histogram in red color when the Bollinger Bands are inside the Keltner bands, informing us of a pause in the market and a probable burst of volatility to varnish.
Bollinger bands and Keltner bands periods and deviation factors are adjustable in the settings.
Converted from MQL4 version by a request in ProBuilder English forum section.
//PRC_Squeeze Light | indicator
//07.11.2017
//Nicolas @ www.prorealcode.com
//Sharing ProRealTime knowledge
// --- settings
//bolPrd=21
//bolDev=2.0
//keltPrd=20
//keltFactor=1.5
// --- end of settings
diff = averagetruerange[keltPrd]*keltFactor
stdd = std[bolPrd](close)
bbs = bolDev*stdd/diff
if bbs<1 then
upK = 1
loK = 0
else
loK = 1
upK = 0
endif
return upK coloured(255,0,0) style(histogram,1) as "Squeeze On", loK coloured(255,0,0,30) style(histogram,1) as "Squeeze Off"
Download
Filename:
PRC_Squeeze-Light.itf
Downloads:
368
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