Another Version with More Features . I am confident enough this works fine now. I am Sure this will be a valuable tool for you guys who love squeezes.

///////////////// This can be further optimized, Let me know with a comment, if you still need this to be optimized. ////////////////////

This update includes

- Added Options to detect squeeze using Heikin Ashi Candle
- Added Options to use BBR or Momentum ( ROC ) for the Momentum Histogram
- Custom Momentum Smoothing time period
- Removed the Separate Look back periods for BB/KC - Since it doesn't really make sense using different lengths for KC and BB.

HA Closes can be really helpful in trading ETFs like FXE , GLD , FXY , SLV etc, which constantly gaps on daily basis. This helps in smoothing out. And most Importantly it Lines up with the Underlying's Squeeze.

[The Next Major Version is currently being Back tested with better timing triggers etc...... That will replace all other Squeeze indicators in the market - Some Major upgrades have been done to the squeezes to read the consolidation is with support or resistance. Also plan on adding best bet entries and pre-breakout signals. So far so good, this recent contradicting trends in daily / weekly in the market is making the indicator hard to work per theory]

The delay is because, I do not like to post any script (with signals) without sufficient back testing . I will not post these indicator with signals, unless I am sure it works per my theoretical derivations.


Thanks for Being Patient and all your support.

Until then - Good Luck Trading.

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.

// Variation - Lazybear Squeeze Indicator
// Recreated and Modified by UCSgears
// Added Options to detect squeeze using Heikin Ashi Candle
// Added Options to use BBR or Momentum (ROC) for the Momentum Histogram
// Custom Momentum Smoothing
// Removed the Seperate Lookback periods for BB/KC - Since this doesn't really make sense in using a different lengths. 

study(shorttitle = "UCS_SQUEEZE_Timing_V3", title="Squeeze Momentum Timing and Direction - Version 3", overlay=false)

length = input(20, title="Squeeze Length")
multBB = input(2,title="BB MultFactor")
multKC = input(1.5, title="KC MultFactor")
smooth = input(20, title = "Momentum Smoothing")

usebbr = input(true, title = "Use Bollinger Band Ratio", type = bool)
useHAC = input(true, title = "Use Heikin Ashi Candle", type=bool)
useTrueRange = input(true, title="Use TrueRange (KC)", type=bool)

// Calculate BB
source = useHAC ? ohlc4 : close
basis = sma(source, length)
dev = multBB * stdev(source, length)
upperBB = basis + dev
lowerBB = basis - dev

// Calculate KC
ma = sma(source, length)
range = useTrueRange ? tr : (high - low)
rangema = sma(range, length)
upperKC = ma + rangema * multKC
lowerKC = ma - rangema * multKC

sqzOn  = (lowerBB > lowerKC) and (upperBB < upperKC)
sqzOff = (lowerBB < lowerKC) and (upperBB > upperKC)
noSqz  = (sqzOn == false) and (sqzOff == false)

momentum = usebbr ? (((source - lowerBB)/(upperBB - lowerBB))-0.5) : (((close - close[12])/close[12])*100)

val = sma(momentum,smooth)

bcolor = iff( val > 0, 
            iff( val > nz(val[1]), green, blue),
            iff( val < nz(val[1]), red, orange))
scolor = noSqz ? blue : sqzOn ? red : green 
plot(val, color=bcolor, style=histogram, linewidth=3)
plot(0, color=scolor, style=circles, linewidth=3)