TTM SQUEEZE INDICATOR

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  • #39259
    • Topics: 13
    • Replies: 10
    • Posts: 23

    Hi:

    wondering if anyone is familiar with the TTM SQUEEZE INDICATOR created by John carter from simpler options.

    The nature of this indicator is the bollinger bands set at 20 days with 1.5 stddev  and Keltner channels with 20 and 1 stddev  and the momentum oscillator on 14 days .

    When the bollinger bands contract together in to the Keltner channel and then break out of the Keltner channel it is said that the squeeze has fired and the momentum histogram shows the direction of the move up or down.

    I managed to find a functioning version of this indicator on Tradingview platform,however i would prefer to build this indicator to use on Optuma. 

    The script is also available on tradingview however the script language is not the same as the Optuma language.

     

    This indicator is very useful and much easier on the eyes than plotting all three tools on the charts.

    Here is an image and also a link of what it does exactly.

     

     

     

    ttm squeeze on tradingview

    Thanks in advance

    #47363
    Garret
    • Topics: 0
    • Replies: 1
    • Posts: 1

    I’m wondering if someone here cleverer than me would be able to write this script and and make the settings user adjustable.

    #47371
    Matthew
    • Topics: 5
    • Replies: 421
    • Posts: 426

    Hi,

    Thank you for your post.  I’ll have a look at the rules and examples in your post and will see if it can be setup as a script.  If it can i’ll post an example here.

    #47387
    Matthew
    • Topics: 5
    • Replies: 421
    • Posts: 426

    Hi,

    Please find an example script below of the TTM Squeeze Indicator in Optuma:

    This should be added to a Show View tool.

    Here’s an example of how it looks when applied to the DAX:

    DAXX

    #59095
    Julius
    • Topics: 12
    • Replies: 12
    • Posts: 24

    Hi,

    I don’t understand what that line at the top of the indicator window is. It also kind of pushes the oscillator down making it small in size. In certain cases the oscillator cannot be seen at all. (This is the WDC daily chart. The second one is the original daily chart from Think-or-Swim.).

    Your help is appreciated.

    Julius Mohacsi

     

    #59118
    Matthew
    • Topics: 5
    • Replies: 421
    • Posts: 426

    Hi,

    Those dots come from lines 17 and 18 in the code that was posted.

    They are hard coded to use a value of 5 which works fine for the DAXX (the original chart the script was built on) but not for WDC as the values of the indicator are much smaller.

    Changing the values from 5 to 0.1 in the case of WDC will adjust the code to display as expected.

    Ex4

    #59131
    Julius
    • Topics: 12
    • Replies: 12
    • Posts: 24

    Thank you, Matthew!
    I still do not understand why this extra line exists. I can see that the red/green areas are just the opposite of those of the zero line.
    Can this extra line be placed over (instead of) the zero line? Or simply change the red/green areas of the zero line and delete this extra line?
    Thank you again.
    Julius

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