Squeeze Momentum

This is the Squeeze Momentum Indicator from TradingView by LazyBear ported to mql5. Is the same logic and plotting.

Interpreting the Indicator:

1. Detecting a Squeeze:

   • Look at the separate line’s color. If it indicates a squeeze (often shown as one distinct color), it means price is currently consolidating and volatility is low.
   • This is a time to watch carefully for upcoming breakouts.

2. When the Squeeze Fires:

   • Once the indicator switches from the “Squeeze On” color to the “No Squeeze” or “Squeeze Off” color, it suggests a release of built-up energy.
   • The direction of the histogram bars can guide you on whether to position bullishly or bearishly.

3. Momentum Analysis:

   • Check the histogram bars. Increasing green bars point to growing bullish momentum. If the squeeze fires during this phase, it could mean a strong upward trend may follow.
   • Increasing red bars signal building bearish momentum. If the squeeze fires here, a downward move may be imminent.

4. Confirming with Other Tools:

   • While the Squeeze Momentum indicator is a powerful standalone tool, it often helps to combine it with price action analysis, support/resistance levels, and other momentum or trend-following indicators to validate signals.