Many have asked what the differences are between the PBF-Squeeze indicator and the other popular and well-known Squeeze that's been out there for years, which is retailed at $496.
The simple answer is:

• THIS is much faster and way more precise.
• THIS Squeeze indicator has absolutely nothing to do with the other Squeeze except for the name and similar formation (lines, dots, histograms, green, red, what else can you do?)

The idea and calculation behind our Squeeze is brand new. It does not employ the Momentum or CCI indicator, which are okay but not precise and responsive enough for our tastes. The "traditioinal" Bollinger Band/Keltner Channel idea that plots the middle line is kept alive if you choose 2 for "style" under "format technical analysis", but we no longer use it in our trading. This idea sounds very attractive in theory, but if you really think about it and examine the charts, both Bollinger Band and Keltner Channels are lagging indicators. By the time the Bollinger Band moves inside the Keltner Channel, the market would have been moving sideways for at least a few bars.
What's worse is when the Bollinger Band moves outside of the Keltner Channel, the market has been moving for at least a few bars. If you enter positions then, that means you are a few bars too late.
For this reason, we have re-designed the middle line, which has made tremendous differences in our trading, especially in the counter-trend mode.

[Futurestrader]

Here are some trading ideas for the PBF-Squeeze Indicator.
Use a EMA48 and EMA89 to get the Middle line or use the jtHMA to get better results. This line gives you the trend direction.
Take CT Trades only if you have a divergence in the PBF-Squeeze.

[daedalus]

Looks good. Can't wait to try it.

I've installed it but it needs to be adjusted in the "style" tab... it just looks like a line bar and the squeeze dots are REALLY small and they don't seem to react the changes in the style tab to make them wider... suggestions?

[Futurestrader]

Here is a configuration suggestion:



The screenshots are made with MultiCharts. TS is the same.

[daedalus]

I appreciate the post... but this doesn't work in TS...

Heres screens showing the changes to both of them, and the resulting chart from the changes.





The only changes that take effect are changing it from line to histogram... None of the width changes seem to take effect.

Don't know how much you can do since you use the MC platform, but if anyone else tries this on their TS i'd like to know if you're having the same issues.

Thanks again for posting the indicator regardless!

[sevensa]

I am using MC too, but there are two SetPlotWidth lines in the code, which means they are hardcoded and your changes will have no effect. Try to comment them out and see if this helps to have your settings take effect.

The lines are:

SetPlotWidth(1,7);
setplotwidth(2,7);

Or copy and paste the code below where I have commented the lines out already to a new indicator and verify:

Inputs: Price(Close), price2(close),Price3(H/3+L/3+C/3),
	 Length(20),
	 Length2(13),
	 Length3(21),
	 Length4(9),
	 Style(1),
	 nK(1.5), 
	 nBB(2), 
 	 AlertLine( 1 ),
	 BuyColor1(blue), BuyColor2(darkblue),
	 SellColor1(red), SellColor2(darkred),
	 NormalColor(Red),AlertColor(Blue),
	 CounterTrend(true); 

vars:FastVal1(0), SlowVal1(0), Diff1(0),
     FastVal2(0), SlowVal2(0), Diff2(0),
     FastVal3(0), SlowVal3(0), Diff3(0),
     FastVal4(0), SlowVal4(0), Diff4(0),
     AvgDiff(0), AvgDif(0), poles(4),
     CCIValue(0),DownCT(0),UpCT(0),SDev(0),ATR(0),LHMult(0),Denom(0),BBS_Ind(0);

if Style = 0 then begin
	{Zero Line - BB Squeeze}
	if ( barnumber=1 ) then 
	Begin
	  If minmove <> 0 then
	    LHMult = pricescale/minmove;
	end;

	{-- Calculate BB Squeeze ----------------------}
	ATR = AvgTrueRange(Length);
	SDev = StandardDev(Price, Length, 1);

	Denom = (nK*ATR);
	If Denom <> 0 then BBS_Ind = (nBB * SDev) /Denom; 

	If BBS_Ind < Alertline then
	  SetPlotColor(1, NormalColor)
	else
	  SetPlotColor(1, AlertColor);

	{-- Plot Index & Alert Line -------------------------}
	Plot1(0, "Squeeze");
end;

if Style = 1 then begin
	{Zero Line - Gauss filter}
	value1 = Gauss(Price3,Length3,3);

	if (Value1) > (Value1[1]) then 
	SetPlotColor(1, BuyColor1);
	if (Value1) < (Value1[1]) then 
	SetPlotColor(1, SellColor1);
//	SetPlotWidth(1,7);
	Plot1(0, "Squeeze");
end;


{Histogram} 
FastVal1 = Gauss(price, 8, poles);
SlowVal1 = Gauss(price, 21, poles);
Diff1 = FastVal1 - SlowVal1;
FastVal2 = Gauss(price, 13, poles);
SlowVal2 = Gauss(price, 34, poles);
Diff2 = FastVal2 - SlowVal2;
FastVal3 = Gauss(price, 21, poles);
SlowVal3 = Gauss(price, 55, poles);
Diff3 = FastVal3 - SlowVal3;
FastVal4 = Gauss(price, 34, poles);
SlowVal4 = Gauss(price, 89, poles);
Diff4 = FastVal4 - SlowVal4;
AvgDiff = (Diff1+Diff2+Diff3+Diff4)/4;

plot2(AvgDiff,"DiffHisto") ;
//setplotwidth(2,7);
if AvgDiff > 0 then 
  if AvgDiff > AvgDiff[1] then 
    setplotcolor(2,BuyColor1)
  else
    setplotcolor(2,BuyColor2) ;

if AvgDiff < 0 then 
  if AvgDiff < AvgDiff[1] then setplotcolor(2,SellColor1)
else
  setplotcolor(2,SellColor2);



{+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++}
{ Counter Trend Mode}
if CounterTrend = true then begin
	CCiValue = CCI(13);

	Condition1 = ccivalue[1] > 50;
	Condition2 = CCivalue < 50;
	Condition3 = CCivalue[1] < 100;
	Condition4 = CCiValue > 100;
	Condition5 = AvgDiff > 0;
	Condition6 = AvgDiff[1] > 0;
	Condition7 = AvgDiff[2] > 0;
	Condition8 = ccivalue < 100;

	if Condition1 and Condition2 and Condition5 and condition6 and condition7 then begin
	  setplotcolor(2,SellColor2);
	  DownCT = 1;
	end;

	if DownCT = 1 and AvgDiff < 0 then DownCT =0;

	if DownCT = 1 and Condition8 and Condition5 then setplotcolor(2,SellColor2);

	if DownCT = 1 and Condition3 and Condition4 then begin
	  setplotcolor(2,BuyColor1);
	  DownCT = 0;
	end;

	Condition11 = ccivalue[1] < -50;
	Condition12 = CCivalue > -50;
	Condition13 = CCivalue[1] >- 100;
	Condition14 = CCiValue < -100;
	Condition15 = AvgDiff < 0;
	Condition16 = AvgDiff[1] < 0;
	Condition17 = AvgDiff[2] < 0;
	Condition18 = ccivalue >-100;

	if Condition11 and Condition12 and Condition15 and condition16 and condition17 then begin
	  setplotcolor(2,BuyColor2) ;
	  UpCT = 1;
	end;

	if UpCT = 1 and AvgDiff > 0 then UpCT =0;
	if UpCT = 1 and Condition18 and Condition15 then setplotcolor(2,BuyColor2) ;
	if UpCT = 1 and Condition13 and Condition14 then begin
	  setplotcolor(2,SellColor1);
	  UpCT = 0;
	end;

end;

[daedalus]

Thanks sevensa - when I try to verify i get a message say that "The word end was expected before the end of the file"

[daedalus]

Ok, i edited the original documented and commented out those lines. And it works like a charm now.



I've attached the modified .eld file that should work with TS.