I took in all of the information as the script below is based on the V2 Script that @LazyBear posted and then added Alerting based on the math and the conditions that @dgtrd added.
The Squeeze Indicator measures the relationship between Bollinger Bands and Keltner's Channels to help identify consolidations and signal when prices are likely to break out (whether up or down).
The Squeeze Indicator finds sections of the Bollinger Bands which fall inside the Keltner's Channels, and in this case, the market is said to be in a squeeze (indicator turns off, displayed with grey diamond shapes in this study).
When the volatility increases, so does the distance between the bands. Conversely, when the volatility declines, the distance also decreases, and in such cases, the squeeze is said to be released (indicator turns on, displayed with triangle up or triangle down shapes)
Taking the above information and what was in the script was able to base the alert conditions:
So when the condition: Squeeze On or No Squeeze = In Squeeze Squeeze Off = Squeeze Release Long or Squeeze Release Long based off conditions.
There are 2 separate alert Types. 1. App, Pop-up, eMail, play sound and Send email to SMS 2. It Is dedicated to Webhook for your various applications.
Thanks for this! This may help someone add alerts - it took me awhile to figure out - you click on the indicator itself to get the option.
gmtd30
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What does the color of the crosses on the zero line mean?
KevJWilly
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Hey thanks for posting this. Would you be able to add an arrow either onto the chart or the squeeze histogram to show where the alerts are firing? I don't see the triangle up or down shapes you mentioned.
jbritton001
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@KevJWilly, Its based off conditions in the code from @dgtrd ... I might revisit the code to add them .. however they are also in the histogram but they are more +.