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....
So I have revamped my original SVI indicator with the new Squeeze Pro system and have fused them together to form a single and extremely versatile indicator.
First, allow me to share the description on the original SVI, as all of this still applies:
" The Sustained Velocity Index is an original indicator I've created as a means to accurately measure parabolic...
So this is a slightly modified version of the fan favorite "Squeeze" indicator.
I did this because I wanted to compare historic movements, but the standard version calculates in whole numbers so a reading with SPX at 2800 is naturally larger than one at 1000.
What I did was I took the Lazybear script and converted it to a percentage reading rather than a...