I had just discovered the Sqeeze momentum indicator on Dhan web. Was thrilled to use it but I am seeing some issues in the way the sqeeze conditions are show.
The sqeeze conditions or the dots should only be shown when the bollinger band is inside the Keltner channel which denotes the low-vol or the quite period. This indicator shows otherwise even when the bollinger band is outside the keltner channel.
Screenshot below
Yellow is the keltner channel and blue is bollinger band
The indicator is below showing the black dots(assuming it the sqeeze) for situations even when bollinger band is out of the Keltner channel which is wrong.
I do have a few observation, thought i’ll add it here
With the Default Settings of Squeeze momentum indicator, (i.e KC 20, 1.5) the Blue Dots are not at all shown, only Black and Grey Dots are being printed. But if one modifies the KC’s Length, then we could see the bule dots being printed.
As per the Latest updates of Squeeze (PRO) Version, now three different colors are being used to show the Squeezed State as (Wide,normal and narrow), If possible check and update that as well.
here’s color code fromTTM squeeze pro version from tradingview
wide squeeae - orange
normal squeeze - red
narrow squeeze - yellow
fired squeee - green
