Below is the intra day chart of TSLA on the 5 mins. I have the alligator indicator turned on, as well as the bollinger band. The date was April 26, 2021. What are some signs or indicators what would help me see that a stock is stuck in a squeeze. Where virtually any form of trend following strategy would not work. Beyond wanting to learn from this particular day, I'm also wondering in parallel how to spot the afternoon squeeze that is quite common for TSLA.
From this page, https://usethinkscript.com/threads/...ipts-to-detect-periods-of-consolidation.1159/
I've looked at the consolidation barebones script for that particular day, and I'm not sure what to make of it. I've also looked at it for other days following and not sure what to make of it either. On that same page I've also tested the code from post #6 and I wasn't sure what to make of it either, it made the candles tiny and unreadable. On that same thread, post #25, I tested the keltner bandwidth script. Didn't know what to make of it. Also on post #25, I looked at the balance of power script and it does appear to be better at showing momentum over time. Though I could also figure that out by looking the price action or looking at the bollinger band, or look at the bollinger bandwidth. What I am having trouble is that any false breakout during a squeeze generally looks the same as how a successful breakout would also start.
I also looked at this page, https://usethinkscript.com/threads/true-momentum-oscillator-for-thinkorswim.15/
In particular True Momentum Oscillator from post #1. Wasn't sure what to make of it in regards to how to know if the stock is in a squeeze.
From this page
https://usethinkscript.com/threads/eci-gaussian-indicator-for-thinkorswim.1160/
I also looked at the eci gaussian. I wasn't sure what to make of it.
The more successful one I've found so far is from this page
https://usethinkscript.com/threads/...e-experiment-for-thinkorswim.1215/#post-62342
From post #1, Mobius' Momentum Squeeze.
So for 4/26 on TSLA's 5 min chart, it seems to do a reasonable job pointing out dangerous times of sideways movement. It also seems to do a reasonable job on some other days for TSLA.
Is there any other indicator I should look at in addition to help me understand when a stock is in a squeeze and to watch out for false breakouts for intra day scalping?
Thanks in advance.
From this page, https://usethinkscript.com/threads/...ipts-to-detect-periods-of-consolidation.1159/
I've looked at the consolidation barebones script for that particular day, and I'm not sure what to make of it. I've also looked at it for other days following and not sure what to make of it either. On that same page I've also tested the code from post #6 and I wasn't sure what to make of it either, it made the candles tiny and unreadable. On that same thread, post #25, I tested the keltner bandwidth script. Didn't know what to make of it. Also on post #25, I looked at the balance of power script and it does appear to be better at showing momentum over time. Though I could also figure that out by looking the price action or looking at the bollinger band, or look at the bollinger bandwidth. What I am having trouble is that any false breakout during a squeeze generally looks the same as how a successful breakout would also start.
I also looked at this page, https://usethinkscript.com/threads/true-momentum-oscillator-for-thinkorswim.15/
In particular True Momentum Oscillator from post #1. Wasn't sure what to make of it in regards to how to know if the stock is in a squeeze.
From this page
https://usethinkscript.com/threads/eci-gaussian-indicator-for-thinkorswim.1160/
I also looked at the eci gaussian. I wasn't sure what to make of it.
The more successful one I've found so far is from this page
https://usethinkscript.com/threads/...e-experiment-for-thinkorswim.1215/#post-62342
From post #1, Mobius' Momentum Squeeze.
So for 4/26 on TSLA's 5 min chart, it seems to do a reasonable job pointing out dangerous times of sideways movement. It also seems to do a reasonable job on some other days for TSLA.
Is there any other indicator I should look at in addition to help me understand when a stock is in a squeeze and to watch out for false breakouts for intra day scalping?
Thanks in advance.