MACD RSI Squeeze (TOS Mobile App Compatible!)
This package includes a custom ThinkOrSwim study for MACD RSI Squeeze. This indicator measures both the MACD histogram and the RSI to determine when a squeeze is likely. Arrows are drawn on the chart indicating an upward or downward squeeze when the RSI and the MACD histogram have reversed direction in the past two bars and RSI was above(below) overbought(oversold). Indicator also works on ThinkOrSwim mobile app!
- The arrows are cyan when an upward squeeze is likely and magenta when a downward one is more likely.
- This indicator works across all securities.
- The MACD is customizable for the fast length, slow length, smoothing period and average type.
- The RSI can be adjusted for length, price type, average type, over bought and over sold.