SQZMOM

Squeeze Momentum Indicator

This indicator shows when the market is “squeezed” (low volatility) and which way momentum is building, so you can spot a possible breakout early.

The center dots show the squeeze state:

Black: squeeze on. Volatility is compressed and a big move may be coming.
Gray: squeeze off. The compression has released and the move may be starting.
Blue: no squeeze. The market is in a normal state.

The histogram shows momentum direction:

Lime: positive and rising (strong bullish momentum).
Green: positive but weakening.
Red: negative and falling (strong bearish momentum).
Maroon: negative but weakening.

How to use it:

Wait for the black dots, then watch for the first gray dot. Trade in the direction the histogram points.
A color change from lime to green, or from red to maroon, can warn that momentum is fading.
Confirm with trend, support/resistance, or volume to avoid false breakouts.

Settings: you can adjust the Bollinger Band and Keltner Channel lengths and multipliers.