The squeeze happens when < all BBWs of the past 125 intervals.
Whenever a squeeze occurs, this means there is low .
A low period is almost always followed by high volatility: a large breakout (with price performing ample movement and exiting the bands) may suddenly occur.
The breakout may be preceded by a fakeout, during which price moves in the opposite direction.
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.
Thank you. @danarm