Just saw this on a particular website and created my version of it. A practical modification of MACD and Squeeze Momentum. The MACD histogram is colored in green or red depending on whether the squeeze momentum is active or not. Additionally, the MACD line is colored green if the RSI is oversold and red if it's in the overbought levels.
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Update to V5 Pine.
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Updated with Divergences and Alerts for divergence!
Thank you for your indicator!
Green histogram color means there is a squeeze going on?