This is the famous Squeeze Momentum Indicator made by @LazyBear in v4 version if someone wants to test some strategies, as the original code was in v2 version the code converter couldn't convert to v4.
You code is wrong the Squeeze On and Off is not the same as LazyBears.
TL_ID
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@Anuroop96, I think it is. Look what he wrote in the page of his original script "Fixed a typo in the code where BB multiplier was stuck at 1.5. Thanks @ucsgears for bringing it to my notice.
Updated source: pastebin.com/UCpcX8d7
Use the updated source instead of the what TV shows below."
I used this source code to change it to pine v4, and when i compare both indicators they are the same, i just added a plotshape when the squeeze happens.
Look:
Anuroop96
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@TL_ID, ok i dint see the description for Lazy Bear Code anyways thanks for your help.
mtahreemalam
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Thanks a bunch man! Was looking for it desperately.
Mishiguene
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Together .... Squeeze + ADX ? Its possible. ?
UseTheSchwartz
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What is indicated by the blue dots along the bottom of the indicator? Google was no help in figuring this out. Thanks!