Squeeze Momentum Indicator

The "Squeeze Momentum Indicator" identifies market squeeze conditions using Bollinger Bands (BB) and Keltner Channels (KC), plotting momentum as a histogram. It signals potential breakouts when volatility contracts (squeeze on) and tracks momentum direction.
Key Features
Squeeze Detection: Uses BB (length 20, mult 2.0) and KC (length 20, mult 1.5) to detect squeeze on (black), off (gray), or neutral (blue) conditions.

Momentum Histogram: Plots momentum with linear regression, colored by direction and strength (green for rising, red for falling).

Customizable: Adjust BB/KC lengths, multipliers, and true range usage for KC.

Perfect For
Breakout traders seeking volatility contractions on any asset/timeframe.

Momentum traders tracking trend strength.

Justification for Invite-Only Status
This indicator is offered as an Invite-Only script under PineAlpha Premium due to its optimized visualization and ongoing support (e.g., monthly access code updates, Discord assistance), justifying its paid access.

Credit for Inspiration
The Squeeze Momentum Indicator concept was popularized by John Carter and adapted by various Pine Script developers. This implementation builds on that foundation with enhanced visuals and customizable settings.

Legal Disclaimer
This indicator is for educational purposes only and not financial advice. Trading involves high risk, and you may lose your capital. PineAlpha is not responsible for losses. Consult a financial advisor before trading. See our full Legal Disclaimer: discord.gg/Z8sjPVsccb