Trying to use the squeeze indicator that Trade the Markets
uses, and have publicly stated the rules for either in print or on the CBOT
Webairs. I would very much like to be able to use it in AB, but of course is
written for TradeStation. The Squeeze Indicator is plotting the Bollinger
band on top of a Keltner band (using standard settings on each) in ribbon
format. Under 4.70rc2; help; ribbon; one gets:
New
parameters make it also easy to plot ribbons, for example:
Plot(
Close, "Price", colorBlue, styleCandle );
Plot( 2, /* defines the height of the ribbon
in percent of pane width */
"Ribbon",
IIf( up, colorGreen, IIf( down, colorRed, 0 )),
/* choose color */
styleOwnScale|styleArea|styleNoLabel, -0.5, 100
);
I am
aware of the wrap problems. But when trying this I get syntax error of: “Variable
‘up’ used without having been initialized.” And thus being
very limited have no clue what to do with the above let alone doing the
following.
Squeeze
Indicator = when the B Bands are inside the Keltner it is a red dot and
when the B Bands move outside of a Keltner Band the dots change to green and
stay that color until inside again. Hopefully all in a straight line (ribbon).
Theory being “These quiet periods are identified when the Bollinger Bands
narrow in width to the point at which they are trading inside the Keltner
channels.” Then break out.
Any
Help would be greatly appreciated.
Ref:
SFO Magazine March page 52. Also http://www.tradethemarkets.com/index.php?s=1111252419-283267651&url_channel_id=281&url_article_id=1475&change_well_id=2&reset=Y
has a picture under Squeeze Indicator or http://tradethemarkets.com/video/squeeze.html
for a video or attached jpg from Friday’s chat room charts (ribbon at
bottom in blue/red actually dots).
Jerry Gress
Stockton, Ca.
