This is a corrected version of Squeeze Indicator that initially was authored by LazyBear and modified by KıvanÇ @fr3762 (twitter) Indicator description: forextrading-pips.com/squeeze-indicator/
Interpretation: When both the upper and lower Bollinger Bands go inside the Keltner Channel, the squeeze is on. When the Bollinger Bands (BOTH lines) start to come out of the Keltner Channel, the squeeze has been released (off). When one of the Bollinger Bands is out of Keltner Channel, no highlighting is done.