John Carter's Squeeze Pro Indicator for ThinkorSwim (FREE)

[useThinkScript]

Does anyone have code for the squeeze column that shows the colors for diffent compression levels of squeeze pro.

https://usethinkscript.com/threads/...r-for-thinkorswim-free.4021/page-2#post-50337

 

[Fab5Trader]

With this indicator, what are the dots on the lower chart indicating? I apologize if I've read over it and missed it. Also, can those dots be changed to another color? Very hard for me to see

 

[useThinkScript]

With this indicator, what are the dots on the lower chart indicating? I apologize if I've read over it and missed it. Also, can those dots be changed to another color? Very hard for me to see

This is a Squeeze indicator. The dots indicate that the instrument is being squeezed.

" Squeeze" is a term for when price movement is in consolidation, meaning it is "choppy" or in a "range".
Knowing when price is in a "Squeeze" tells you that institutional trading is in a holding pattern.
The traditional thinking is that once the price action exits or is exiting "The Squeeze" there will be a breakout.
The theory being that the longer the squeeze (the more dots that there are) the bigger the breakout.

The colors correspond:

0 = gray / no squeeze​

1 = dark orange / low squeeze ​

2 = yellow / normal squeeze ​

3 = red / high squeeze​

​

Here is the line in the script that defines the colors.

squeezeline.AssignValueColor(if ExtrSqueeze then Color.RED else if originalSqueeze then Color.YELLOW else if presqueeze then Color.DARK_ORANGE else Color.GRAY);

You can change them to what suits you.
https://toslc.thinkorswim.com/center/reference/thinkScript/Constants/Color

 

[cnsling]

Squeeze Pro is there a scan for it?

 

[useThinkScript]

Squeeze Pro is there a scan for it?

Here are the twenty posts of various member's attempts at scans:
https://usethinkscript.com/search/1907729/?q=scan*&t=post&c[thread]=4021&o=date

 

[wirkkarl]

GO HERE FIRST: Everything You Wanted To Know About The Free ThinkOrSwim John Carter's Squeeze Pro Indicator And Were Afraid To Ask: https://usethinkscript.com/threads/john-carters-squeeze-pro-question.8705/

John Carter's Squeeze Pro Indicator for ThinkorSwim (FREE)
I derived John Carter's Pro Squeeze indicator. All it looks like he does is add in more conditional rules on whether BBs are inside a larger and smaller range. The code is actually pretty simple just added a few Keltner ranges and added in Mobius's derivation of the original TTM Squeeze's momentum function.

Dark_orange is the pre-squeeze, yellow signals the original, and red is one step above actual i.e., extreme compression.

View attachment 8145

Thanks,

TheBewb

declare lower;

##Assembled by TheBewb using existing Mobius Squeeze Momentum coding and "squeeze" concept made popular by John Carter.

input price = close;
input length = 20;
input Num_Dev_Dn = -2.0;
input Num_Dev_up = 2.0;
input averageType = AverageType.SIMPLE;
input displace = 0;
def sDev = StDev(data = price[-displace], length = length);
def MidLineBB = MovingAverage(averageType, data = price[-displace], length = length);
def LowerBandBB = MidLineBB + Num_Dev_Dn * sDev;
def UpperBandBB = MidLineBB + Num_Dev_up * sDev;
input factorhigh = 1.0;
input factormid = 1.5;
input factorlow = 2.0;
input trueRangeAverageType = AverageType.SIMPLE;
def shifthigh = factorhigh * MovingAverage(trueRangeAverageType, TrueRange(high, close, low), length);
def shiftMid = factormid * MovingAverage(trueRangeAverageType, TrueRange(high, close, low), length);
def shiftlow = factorlow * MovingAverage(trueRangeAverageType, TrueRange(high, close, low), length);
def average = MovingAverage(averageType, price, length);

def Avg = average[-displace];

def UpperBandKCLow = average[-displace] + shiftlow[-displace];
def LowerBandKCLow = average[-displace] - shiftlow[-displace];

def UpperBandKCMid = average[-displace] + shiftMid[-displace];
def LowerBandKCMid = average[-displace] - shiftMid[-displace];

def UpperBandKCHigh = average[-displace] + shifthigh[-displace];
def LowerBandKCHigh = average[-displace] - shifthigh[-displace];

def K = (Highest(high, length) + Lowest(low, length)) /
2 + ExpAverage(close, length);
def momo = Inertia(price - K / 2, length);

def pos         = momo>= 0;
def neg         = momo< 0;
def up         = momo >= momo[1];
def dn         = momo < momo[1];

def presqueeze      = LowerBandBB > LowerBandKCLow and UpperBandBB < UpperBandKCLow;
def originalSqueeze     = LowerBandBB > LowerBandKCMid and UpperBandBB < UpperBandKCMid;
def ExtrSqueeze     = LowerBandBB > LowerBandKCHigh and UpperBandBB < UpperBandKCHigh;

def PosUp = pos and up;
def PosDn = pos and dn;
def NegDn = neg and dn;
def NegUp = neg and up;

plot squeezeline = 0;
squeezeline.SetPaintingStrategy(PaintingStrategy.POINTS);
squeezeline.AssignValueColor(if ExtrSqueeze then Color.RED else if originalSqueeze  then Color.YELLOW else if presqueeze then Color.DARK_ORANGE else Color.GRAY);

plot momentum = momo;
momentum.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
momentum.AssignValueColor( if PosUp then Color.green else if PosDn then Color.dark_green else if NegDn then Color.dark_orange else if NegUp then Color.yellow else Color.YELLOW);

Appreciate the breakdown — the color-coding really helps visualize the compression levels. I’ve been testing it out and the red zones seem to line up well with big moves. Great work on simplifying Carter’s version!

 

[dart966]

Appreciate the breakdown — the color-coding really helps visualize the compression levels. I’ve been testing it out and the red zones seem to line up well with big moves. Great work on simplifying Carter’s version!

You may like this chart set-up:

Here's my setup with the Beardy Squeeze Pro, MTF Squeeze Labels, MTF Squeeze Histogram Labels, The Confirmation Trend Chart, and Volume Buy Sell Pressure with Hot Percent.

Feel free to add/remove any indicators once shared chart is loaded.
Hope you like this.