TOS Squeeze Play

squeeze_play.ts

#Hint: SqueezePlay - stacked EMAs (8,21,34,55,89), Upward momentum on TTM_Squeeze, in a squeeze, and price over the 21 EMA

input price = close;

# define the EMAs
def ema8  = ExpAverage(price, 8);
def ema21 = ExpAverage(price, 21);
def ema34 = ExpAverage(price, 34);
def ema55 = ExpAverage(price, 55);
def ema89 = ExpAverage(price, 89);

# plot the EMAs
plot EMA8_ = ExpAverage(price, 8);
plot EMA21_ = ExpAverage(price, 21);
plot EMA34_ = ExpAverage (price, 34);
plot EMA55_ = ExpAverage (price, 55);
plot EMA89_ = ExpAverage (price, 89);

# is the price in the buy zone?
def buyZone = price < EMA8 AND price > EMA21;

# now, let's see what we have

# 1) is momentum > 0 and on an upward trend on then TTM_Squeeze() histogram?
def bullMomentum = TTM_Squeeze().Histogram > 0 && TTM_Squeeze().Histogram > TTM_Squeeze().Histogram[1];

# 2) Has the price closed over the 21 EMA?
def closeOver21 = price > EMA21_;

# 3) Are EMAs stacked in acsending order ("The Royal Setup")?
def stackedEMAS =  EMA8_ > EMA21_ AND EMA21_ > EMA34_ AND EMA34 > EMA55_ AND EMA55_ > EMA89;

# 4) are we in a TTM_squeeze (true if squeezealert has not fired)?
def squeeze = !TTM_Squeeze().SqueezeAlert;

# do we have a squeeze play?
def squeezePlay = squeeze && stackedEMAS && bullMomentum && closeOver21;

# set the stacked label
AddLabel(price, ”Stacked EMAs” , (if stackedEMAS then Color.GREEN else Color.RED));

# set clean squeeze label if we're in a clean squeeze
AddLabel(if squeezePlay then yes else no, " Squeeze Play ", Color.GREEN);

# Add buy zone label if we're in the buy zone
AddLabel(if buyZone then yes else no, "BUY ZONE", Color.GREEN);