Squeeze Indicator.pine

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//          SQUEEZE INDICATOR
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study(shorttitle = "UCS_SQUEEZE_Timing_V3", title="Squeeze Momentum Timing and Direction - Version 3", overlay=false)
length = input(20, title="Squeeze Length")
multBB = input(2,title="BB MultFactor")
multKC = input(1.5, title="KC MultFactor")
smooth = input(20, title = "Momentum Smoothing")
usebbr = input(true, title = "Use Bollinger Band Ratio", type = bool) useHAC = input(true, title = "Use Heikin Ashi Candle", type=bool) useTrueRange = input(true, title="Use TrueRange (KC)", type=bool)
// Calculate BB
source = useHAC ? ohlc4 : close
basis = sma(source, length)
dev = multBB * stdev(source, length) upperBB = basis + dev
lowerBB = basis - dev
// Calculate KC
ma = sma(source, length)
range = useTrueRange ? tr : (high - low) rangema = sma(range, length)
upperKC = ma + rangema * multKC lowerKC = ma - rangema * multKC
sqzOn = (lowerBB > lowerKC) and (upperBB < upperKC) sqzOff = (lowerBB < lowerKC) and (upperBB > upperKC)
noSqz = (sqzOn == false) and (sqzOff == false)
momentum = usebbr ? (((source - lowerBB)/(upperBB - lowerBB))-0.5) : (((close - close[12])/close[12])*100)
val = sma(momentum,smooth)
bcolor = iff( val > 0,
iff( val > nz(val[1]), green, blue), iff( val < nz(val[1]), red, orange))
scolor = noSqz ? blue : sqzOn ? red : green
plot(val, color=bcolor, style=histogram, linewidth=3) plot(0, color=scolor, style=circles, linewidth=3)