(JS) Squeeze Pro Overlays

So this was something I planned on doing in the future, I knew it would take some time to put together but here it is, the Squeeze Pro 2 Overlays.

On my original Squeeze Pro, I had made several overlay indicators to go along with it, this time my goal was to combine all that stuff into a single indicator and allow the user to turn on and off the specific features they'd prefer to use. The version illustrated in the preview has everything turned on. What is "everything"? Here's the breakdown...

First of all - the color schemes in the Squeeze Pro match the color schemes in the Overlays indicator, so you can match them up (Color Scheme 3 in example). There are 6 schemes, option 1 is the original Squeeze colors.

There's also an option to make the light squeeze black, rather than white. This is for people who aren't using Dark Mode. It will flip all white to black, to make your charts better to read!

So there are 4 main overlays that can be switched on and off with this indicator, they include;

1. Early Signal Candles
2. BBMA Basis Line
3. Bollinger Bands / Keltner Channel Breaches
4. Signal Arrows

Early Signal Candles
The Early Signal Candles have two parameters, the entry smoothing period and the exit smoothing period.

There is a different type of early entry signal for each type of squeeze.

Low Squeeze generates white dots on the highs of the candles.
Mid Squeeze generates a lime green candle (or purple candle in color scheme 3).
High Squeeze generates a bigger purple circle on the high of the candle.

These three signals are made to mimic the original Early In/Out Candles from John Carter and represent the same thing (they work the same way).

As for the early exit, that would be determined by the color of the candle vs the color of the squeeze, works the same way as the original as well.

BBMA Basis Line
The BBMA ( Bollinger Bands Momentum Average) was a moving average I had made to use with the squeeze on the previous version.

It is the basis line of the BB and KC used to make up the Squeeze (a 20 SMA ). There are 4 different colors to it on this version.

1. Orange - This means no squeeze.
2. White/Black - Low Squeeze
3. Red - Mid Squeeze
4. Yellow - High Squeeze

You'll also notice these colors are light and dark in different spots - this is a representation of whether the Bollinger Bands are expanding or contracting. Dark means expanding, light means contracting.

Bollinger Bands/ Keltner Channel Breaches
This is a pretty simple feature. If there is an ongoing squeeze, and a candle closes above or below the Bollinger Bands or Keltner Channels , a circle appears at the top or the bottom of the chart telling you which way the channel has been breached.

Signal Arrows
This is what makes up most of the overlay indicator. If you turn it on, the default is set to work just like the original. There are lots of options with this though.

First, you can turn each type of Squeeze Arrow on or off by checking/unchecking the boxes for them.

Now allow me to explain the "Signal Length", as there are several options.
The default is "6 Dots", this generates a signal when a particular type of Squeeze reaches the 6th dot ("12 Dots" works the same way).
"End of Squeeze" generates a signal once a type of Squeeze has concluded.
"End of Early Signal" generates a signal when the early dots (or candle) finishes.
"Custom" allows you to select your own dot duration to produce a signal, you select that number in the field below.

The other portion of this is the "Signal Type", this is where you select how each signal is generated once the selected amount of time takes place.
The default is the same as the original "+/-", this generates a signal based on whether Squeeze momentum is positive or negative.
"Rising/Falling" will only generate a signal if the Squeeze momentum maintains consistently over the last 6 bars.
"Crossed Zero" only generates a signal if the Squeeze momentum crosses above or below the zero line.
"Basis Line Momentum" is based on the BBMA. A signal is generated based on whether the current candle closes above or below the basis line.
"Divergence" only generates a signal if there is a divergence signal present at the time of the signal.
"Current Momentum" generates a signal based simply on the current direction of Squeeze momentum.
"Sum of Change" generates a signal based on the sum of the change in the Squeeze momentum being positive (long) or negative (short) over the length of time you select in the "Sum of Change Length" field.
Then "Combo" tries to take a look at everything and generates a score based on these parameters. Positive score = long, negative = short.

I hope I gave a detailed enough explanation on how everything works, let me know if you have any questions! Hope you like it!
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ı have 2 problem on this amazing indicator.First one is, when ı want to use zeroline dot option, dot stay at behind of histogrambars, is it possible to get them more visible on the zero line. My 2nd problem is, when ı use your pro2 and overlay version on same time, ı noticed that there ıs a differences between dots' placements from pro to overlay version. ı can't have same dots from pro versıon on overlay versıon. Thanks
J-Streak LuckyWave
@LuckyWave, 1. unforunately that's how it looks which is my I use it the other way... 2, the dots on the indicator and overlays aren't the same thing so they wouldn't be the same
LuckyWave J-Streak
@J-Streak, thanks for kindness help. What is the differences between overlay's dot and indicator's dot? Which one does the better describe the squeeze for your experiences, master? Bytheway, maybe you may consider to build a squeeze dot indicator for multi time frame, imagine, you can see D,4hr,1hr,30min squeeze of dot on same indicator and when combine more than one then have a tıme for bıg bang :) Best
Amazing work JStreak! Congrats and thank you for sharing – respect!
+1 응답
Hi, I am using indicators for the first time. How come i can't see the bottom pane? I also don't see any of the white triangles in my chart. Do I need to download other indicators along with this one? How do I view the different features and turn them on or off?
J-Streak BudShillington
@BudShillington, everything is in the options on the settings of the indicator, you should be able to toggle everything there
This is an absolutely amazing collection of indicators, thank you!
+3 응답
This is amazing. Thank you so much for sharing
+2 응답
This publication will be featured in our "Best Scripts of The Month" selection. Thank you for your valuable contribution to the TradingView community, and congrats!
+3 응답
How is this different from TTM Squeeze?
+1 응답
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