OPEN-SOURCE SCRIPT
BB_Keltner Firing Squeeze by RM
This script shows the Squeeze firing event, after the Bollinger Bands have been inside Keltner Channels, indicating possible short term trend of price action.
Based on Bollinger Bands & Keltner Channels scripts in the Pine scripts library.
Bollinger Bands are a type of statistical chart characterizing the prices and volatility over time of a financial instrument or commodity, using a formulaic method propounded by John Bollinger in the 1980s.
Keltner channel is a technical analysis indicator showing a central moving average line plus channel lines at a distance above and below. The indicator is named after Chester W. Keltner (1909–1998)
Squeeze is an event in the price action of a given market instrument that happens when Bollinger Bands are inside the Keltner Channels, thus indicating build up of volatility. The Firing event is the first candle not in a squeeze after the squeeze event, that releases the price action on a given direction with a given impulse that makes is last several candles. Markets are volatile and can change directions due to several reasons not accounted in this method. Use at you own discretion and evaluate your risk before proceeding.
Based on Bollinger Bands & Keltner Channels scripts in the Pine scripts library.
Bollinger Bands are a type of statistical chart characterizing the prices and volatility over time of a financial instrument or commodity, using a formulaic method propounded by John Bollinger in the 1980s.
Keltner channel is a technical analysis indicator showing a central moving average line plus channel lines at a distance above and below. The indicator is named after Chester W. Keltner (1909–1998)
Squeeze is an event in the price action of a given market instrument that happens when Bollinger Bands are inside the Keltner Channels, thus indicating build up of volatility. The Firing event is the first candle not in a squeeze after the squeeze event, that releases the price action on a given direction with a given impulse that makes is last several candles. Markets are volatile and can change directions due to several reasons not accounted in this method. Use at you own discretion and evaluate your risk before proceeding.
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