What it does
Based on John Carter's TTM Squeeze concept as popularized in community scripts: it detects when Bollinger Bands contract inside Keltner Channels — the 'squeeze', a state of unusually low volatility that typically precedes an expansion — and pairs that with a momentum histogram derived from linear regression of price around its recent midline. Squeeze-on markers show energy building; the squeeze firing (bands re-emerging from the channels) plus the histogram's direction give the breakout's timing and side.
How to add it
Click Indicators (ƒx) in the header.
Search “Dext Squeeze Momentum Indicator” and click the result.
Hover its legend row and click the gear to open settings.
How traders use it
- Squeeze on (commonly shown as red or black dots) means compression — prepare orders but do not trade the chop inside it.
- The first bar after the squeeze fires, with the momentum histogram rising and positive, is the classic long trigger; falling and negative is the short trigger.
- Momentum fading back toward zero after several bars is the standard exit cue.
- Longer squeezes tend to release bigger moves; note squeeze duration when sizing expectations.
- Check the higher timeframe: a lower-timeframe squeeze firing in the direction of a higher-timeframe trend is the highest-quality setup.
Inputs
| Input | Type | Default | Range / Options |
|---|---|---|---|
| BB Length | number | 20 | 1–500 |
| BB Mult | number | 2 | 0.1–10 |
| KC Length | number | 20 | 1–500 |
| KC Mult | number | 1.5 | 0.1–10 |
| Use TrueRange (KC) | boolean | On | — |
Plots & styling
| Plot | Style | Default color |
|---|---|---|
| Momentum | histogram | #26A69A |
| Zero | line | #888888 |
Every plot's color, line width and visibility can be changed on the Style tab. Precision, price-scale labels and status-line values are configurable at the bottom of the Style tab.
Reference levels
| Level | Value |
|---|---|
| Level | 0 |
Level values, colors and line styles are editable in settings.
Tips
- Double-click the plot to open settings directly, skipping the legend hover.
- The pane keeps its height in saved layouts, so size it once and it survives reloads.
- Resize the pane by dragging its divider; collapse it from the legend row when you need the space back.
Watch out for
- Not every squeeze resolves into a trend — some fire, travel briefly and immediately reverse, so stops on the entry structure are essential.
- The momentum histogram is smoothed and can point the wrong way at the moment of release when the initial move is a fake-out.