The Squeeze Index aims to measure the action of price being squeezed, and is expressed as a percentage, with higher values suggesting prices are subject to a higher degree of compression.
Convergence Factor: Convergence factor of exponential envelopes.
Length: Period of the indicator.
Src: Source input of the indicator.
Based on Squeeze Momentum indicator by LazyBear
This custom version of SQ is part of my Trading System.
How to use it.
Please read the description of the original author of this indicator here.
When the market is contracting or sideways usually you will see red or blue dots.
Blue dots. the market is in sideways and the volatility is low....