Dex, since you're fishing, I'll bite. What the heck is the "Squeeze Index" and how do you calculate it? GOOGLE, despite its good earnings, couldn't give me an answer, and I couldn't find it in a quick wander around the TradingView website. Thanks.
Douglas (indicator junkie always looking for another fix)
The well known trader Jack Carter constructed and popularized the Squeeze Index and it is licensed to Ameritrade's Thinkorswim platform and maybe a few others.
There is a YUTUBE video in which Cater explains how it works.
It is not a forecasting tool. It signals when a trading vehicle - stock, futures, indiex, is in a quiet spot in a strong trend after being active (as prices move in spurts). In a strong trend such condition marks a good
point where a new price move could begin, not unlike having a Bollinger band squeezing into a similar length Keltner channel. The value of his indicator is that it makes that condition visually clear.
I do not remember Carter saying anything about using this to predict terminal tops or bottoms but like with any tool one could use it in ingenious, unintended ways.
Carter is one of the very few Guru type traders who actually knows what he is doing and proves it day after day.