it does this by evaluating the movement of the standard deviations of the price.
This indicator can be use in a similar way to and momentum indicators and can potentially keep you out of NO-TRADE zones
It can also be used as an exit indicator to show when a move has likely lost momentum.
color coding of the SE indicator
-the BLUE area indicates the AMOUNT of SQUEEZE of the price deviations
-the ORANGE area indicates the AMOUNT of EXPANSION of the price deviations
-the highlighted (BLUE) line indicate SQUEEZE tightening
-the highlighted (GREEN and RED) lines indicate the RELEASE
- BLUE line rising indicates a likely bounce back if the price
- GREEN/RED line rising indicates a likely continuation/breakout of the price
I build thes indicators for myself and provide them open source, to use for free to use and improve upon,
as I believe the best way to learn is toghether.
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.
I AM NOT A FINANCIAL ADVISOR.
THESE IDEAS ARE NOT ADVICE AND ARE FOR EDUCATION PURPOSES ONLY.
ALWAYS DO YOUR OWN RESEARCH!
You can contact me for info/access in PM or on Telegram: @jduyck
PLS, DON'T ASK FOR ACCESS IN THE COMMENT SECTION!