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Bollinger/Keltner Squeeze (Ver 1.1)
gbBollingerKeltnerSqueeze, Ver 1.0, TraderGB, February 6, 2021
[Updated to Ver 1.1]
Description
:
Draws rectangle around price bars to indicate squeeze.
At the point where both the upper and lower Bollinger bands enter the Keltner channel, the upper and lower rectangle points are defined and are fixed for the life of the rectangle. A TriangleUp/TriangleDown is used to indicate the point where the squeeze starts (squeeze point).
The left most point of the rectangle is also defined and fixed at this point. It draws backward based on BreakTypeUsed (UseClose, UseHiLo). If BreakTypeUsed=UseClose is used, it keeps drawing the rectangle backwards until there is a close outside of the rectangles upper or lower points. If BreakTypeUsed=UseHiLo is used, it keeps drawing the rectangle backwards until there is either a low that is above the upper squeeze point or a high that is below the lower squeeze point. This same logic is used for escaping the rectangle going forward. It keeps moving the right most point until this criteria is met. Since BB/KB are based off of lagging moving averages, a rectangle is draw backwards/forwards from the squeeze point to give context.
Note, there can be overlapping rectangles. If the criteria is met to end the rectangle, another squeeze can take place shortly after and the new rectangle will form and start drawing backwards and possible into a prior rectangle. This is normal and happens more often with BreakTypeUsed=UseClose since this is easier to achieve than BreakTypeUsed=UseHiLo.
Updates
:
Ver 1.1 04-19-2021:
1) Fixed XML settings on Opacity
Category
NinjaTrader 8 Indicators and More
Details:
Bollinger/Keltner Squeeze (Ver 1.1)
Category:
NinjaTrader 8 Indicators and More
February 6th, 2021
Size: 10.02 KB
Downloaded: 987 times
2311
TraderGB
Comments/ratings
Ganymed
February 9th, 2021 11:57 PM
thx
pip29
February 11th, 2021 06:15 AM
ea0680
February 21st, 2021 09:42 PM
No Comment
djdowney
March 14th, 2021 09:51 PM
Works well for me.. thanks
Buscador
March 16th, 2021 11:22 AM
Many thanks
suzi
March 16th, 2021 04:07 PM
Thank you
fibtrader1618
March 18th, 2021 02:10 AM
No Comment
Casman
May 15th, 2021 06:49 AM
love this indicator thank you
racecarjw
November 25th, 2021 11:57 AM
Thanks for sharing your work.
lewtamarilla
April 16th, 2022 04:53 PM
Thank you.
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