SqueeZe Score [UAlgo]

11 Mar

The "SqueeZe Score" is a script based on the "Squeeze Momentum Indicator". It utilizes Bollinger Bands (BB) and Keltner Channels (KC) to identify periods of low volatility, indicating potential upcoming price movements. The Z-Score method is employed to measure deviations from the mean, highlighting extreme price movements within the context of the current volatility environment. This script provides traders with visual cues for potential bullish and bearish divergences, aiding in decision-making during trading activities.



🔶Key Features:

SqueeZe Settings: Users can customize parameters such as the length and multiplier factors for Bollinger Bands and Keltner Channels, providing flexibility to adapt the indicator to different trading strategies and market conditions.

Divergence Detection: The script includes options to detect and display both bullish and bearish divergences, providing additional insights into potential trend reversals or continuations.



Customizable Z-Score Thresholds: Thresholds for the Z-Score are user-defined, enabling traders to set levels at which extreme price movements are highlighted on the chart, facilitating quick identification of significant market conditions.

🔶Credit:

This script is inspired by the work of LazyBear, who contributed to the original concept and development of the Squeeze Momentum indicator.



🔶Disclaimer:

- The information provided by this script is for educational and informational purposes only and should not be construed as financial advice.

- Users are encouraged to conduct their own research and analysis before making any investment decisions.