OPEN-SOURCE SCRIPT
TTM Squeeze (ThinkOrSwim style)
This script is a TradingView implementation of the classic TTM Squeeze indicator popularized in ThinkOrSwim.
It is not a line-by-line replica of the proprietary ThinkOrSwim study, but it follows the same core logic and purpose:
detecting volatility compression and release, combined with directional momentum, to anticipate strong price moves.
How it works
1. Squeeze condition (volatility)
Bollinger Bands (20, 2.0) are compared against Keltner Channels (20, 1.5).
When Bollinger Bands are inside the Keltner Channel, volatility is compressed (squeeze ON).
When Bollinger Bands expand outside the Keltner Channel, volatility is released (squeeze OFF).
This is shown by the dots on the zero line:
Red dots → Squeeze ON (low volatility, market coiling)
Green dots → Squeeze OFF (volatility expanding, potential move)
2. Momentum histogram
Momentum is calculated using a linear regression of price relative to a dynamic equilibrium level (similar to ThinkOrSwim’s internal logic).
The histogram shows both direction and acceleration.
Histogram colors:
Bright green → Momentum above zero and increasing (bullish acceleration)
Dark green → Momentum above zero but decreasing (bullish deceleration)
Bright red → Momentum below zero and decreasing (bearish acceleration)
Dark red → Momentum below zero but increasing (bearish deceleration)
How to use it
The indicator is best used in three steps:
Wait for red dots (squeeze ON) → volatility compression.
Observe the histogram direction building during the squeeze.
When dots turn green (squeeze OFF), look for entries in the direction of the histogram, ideally aligned with market structure.
This indicator is not meant to be traded mechanically.
It works best when combined with:
price structure
support/resistance
higher-timeframe context
Notes
Due to platform differences, results may vary slightly from ThinkOrSwim on individual bars.
Conceptually and operationally, the indicator fulfills the same role and trading logic as the original TTM Squeeze.
It is not a line-by-line replica of the proprietary ThinkOrSwim study, but it follows the same core logic and purpose:
detecting volatility compression and release, combined with directional momentum, to anticipate strong price moves.
How it works
1. Squeeze condition (volatility)
Bollinger Bands (20, 2.0) are compared against Keltner Channels (20, 1.5).
When Bollinger Bands are inside the Keltner Channel, volatility is compressed (squeeze ON).
When Bollinger Bands expand outside the Keltner Channel, volatility is released (squeeze OFF).
This is shown by the dots on the zero line:
Red dots → Squeeze ON (low volatility, market coiling)
Green dots → Squeeze OFF (volatility expanding, potential move)
2. Momentum histogram
Momentum is calculated using a linear regression of price relative to a dynamic equilibrium level (similar to ThinkOrSwim’s internal logic).
The histogram shows both direction and acceleration.
Histogram colors:
Bright green → Momentum above zero and increasing (bullish acceleration)
Dark green → Momentum above zero but decreasing (bullish deceleration)
Bright red → Momentum below zero and decreasing (bearish acceleration)
Dark red → Momentum below zero but increasing (bearish deceleration)
How to use it
The indicator is best used in three steps:
Wait for red dots (squeeze ON) → volatility compression.
Observe the histogram direction building during the squeeze.
When dots turn green (squeeze OFF), look for entries in the direction of the histogram, ideally aligned with market structure.
This indicator is not meant to be traded mechanically.
It works best when combined with:
price structure
support/resistance
higher-timeframe context
Notes
Due to platform differences, results may vary slightly from ThinkOrSwim on individual bars.
Conceptually and operationally, the indicator fulfills the same role and trading logic as the original TTM Squeeze.
開源腳本
秉持TradingView一貫精神，這個腳本的創作者將其設為開源，以便交易者檢視並驗證其功能。向作者致敬！您可以免費使用此腳本，但請注意，重新發佈代碼需遵守我們的社群規範。
免責聲明
這些資訊和出版物並非旨在提供，也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。
開源腳本
秉持TradingView一貫精神，這個腳本的創作者將其設為開源，以便交易者檢視並驗證其功能。向作者致敬！您可以免費使用此腳本，但請注意，重新發佈代碼需遵守我們的社群規範。
免責聲明
這些資訊和出版物並非旨在提供，也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。