Bollinger Bands Width with Squeeze Alert

This is the standard Bollinger Bands Width ( BBW ) indicator with the added capability of detecting the "Bollinger Bands Squeeze" as defined by John Bollinger:

The BBW squeeze happens when BBW < all BBWs of the past 125 intervals.

Whenever a BBW squeeze occurs, this means there is low volatility .

A low volatility period is almost always followed by high volatility: a large breakout (with price performing ample movement and exiting the BBW bands) may suddenly occur.

The breakout may be preceded by a fakeout, during which price moves in the opposite direction.
Open-source script

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.

Want to use this script on a chart?


Nice. Does anyone know if there`s a way to run a scan for TTM squeeze ?
+4 Svara
kiero dadoholic
@dadoholic, please tell me if you find a way to find squeezes.
Hello! Thank you for the indicator. Could youmake it multiple? Like 4 different lengths for MA with an ability to show/hide them?
Thank you. @danarm
Good ONE!