Squeeze Momentum Indicator by LazyBear is a volatility indicator that I discovered in TradingView.
Black crosses on the midline show that the market just entered a squeeze ( are with in Channel). This signifies low , market preparing itself for an explosive move (up or down). Gray crosses signify “Squeeze release”.
Mr.Carter suggests waiting till the first gray after a black cross, and taking a position in the direction of the momentum (for ex., if momentum value is above zero, go long). Exit the position when the momentum changes (increase or decrease — signified by a color change). My (limited) experience with this shows, an additional indicator like / WaveTrend, is needed to not miss good entry points. Also, Mr.Carter uses simple , while I have used a different method (linreg based) to plot the histogram.