Squeeze Momentum Indicator by LazyBear is the most popular indicator in TradingView public library section. It’s backed from more than 68000 likes from users and growing.
The indicator it’s made from user LazyeBear and have a well documented tutorial how to use it. We will share how we use it and you can as well apply it on the chart and back testing it.
It’s a custom made indicator from a book – The Trade by John F Carter and back tested from the users.
In a nutshell John F Carter suggesting in his book that you need to wait till the first gray after a black cross and then you can take a position in the direction of that momentum you are currently watching. But you need to have a exit plan it should be easy to see when the momentum is changing with a significant color. The strategy is very interesting and many people are looking forward about taking quick scalpls or maybe a day trading ideas.
How to use Squeeze Momentum Indicator by LazyBear?
So let’s break it out with some few simple steps to follow this guide. As well you can try yourself and let us know how it goes.
- Always start with a gray or black color this means starting or ending of a momentum.
- After the gray or a black color you should consider to buy or sell. Follow this pattern ( Buy – Dark Red, Light Green Sell – Light Red, Dark Green )
- Close position after first color changed.
- Which timeframe is the best to use this strategy? – In any timeframe you can catch a momentum but for a testing purposes and gaining more data from the indicator is best for 1, 5, 15 or 30min timeframe.
Can you use this indicator for stock?
Yes, the indicator is suitable for use in stocks, futures, options and of course forex.
Just follow our tutorial for best probability.
Hope you like this tutorial if you have any questions you can reach us or comment in the comment section.