Hi all
To give back a little to the community, I developed a MTF squeeze indicator for ThinkOrSwim as an alternative to the overpriced internet version . TTM squeeze code is not available on TOS but luckily Mobius provided a replication of TTM squeeze on onedrive.
The base scrip is as follows:
To give back a little to the community, I developed a MTF squeeze indicator for ThinkOrSwim as an alternative to the overpriced internet version . TTM squeeze code is not available on TOS but luckily Mobius provided a replication of TTM squeeze on onedrive.
The base scrip is as follows:
thinkScript Code
Code:
# the script develped by laketrader trying to replicate multitimeframe squeeze
# indicator as an alternative to the overpriced internet version.
# TTM squeeze code is not available on TOS but luckily Mobius provided a excellent
# replication of TTM squeeze on onedrive. Thus, the squeeze logic was based on Mobius's
# code.
#
# changing the first line dStr to diffeent timeframe will switch to different timeframe.
# e.g.
# dStr = "Weekly" wil change to weekly squeeze
input dStr ="Day";
script MySqueeze{
def length = 20;
def AtrMult = 1.5;
def SdMult = 2.0;
input period ="Daily";
def valueClose = close(period = period);
def valueHigh = high(period = period);
def valueLow = low(period = period);
def SD = StDev(valueClose, length);
def Avg = Average(valueClose, length);
def ATR = Average(TrueRange(valueHigh, valueClose, valueLow), length);
def SDup = Avg + (SdMult * SD);
def ATRup = Avg + (AtrMult * ATR);
plot Squeeze = if SDup < ATRup
then 1
else 0;
}
def dSQ= MySqueeze(dStr);
AddLabel(yes, dStr, if dSQ
then Color.RED else Color.GREEN); # display label red if has squeeze
