Using Squeeze Momentum Indicator to filter noise

[NellyN]

I made a trend following strategy that works well in trending markets, but loses money when the market is in consolidation mode. My idea is to enter long or short when there "Is"Squeezes". For long trades - above the 0 line and green, for short- below the 0 line and red.
Do you think this is the appropriate solution? Any other ideas how to avoid chop?

// Set 1
if (CrossAbove(SqueezeMomentumIndicator1.SqueezeDef, SqueezeMomentumIndicator1.IsSqueezes, 1))
{
EnterLong(Convert.ToInt32(DefaultQuantity), "");
}

// Set 2
if (CrossBelow(SqueezeMomentumIndicator1.SqueezeDef, SqueezeMomentumIndicator1.IsSqueezes, 1))
{
ExitLong(Convert.ToInt32(DefaultQuantity), "", "");
}

[NinjaTrader_BrandonH]

Hello NellyN,

Thanks for your post.

The code you shared would check if the SqueezeDef plot of the SqueezeMomentumIndicator script crosses above the IsSqueezes plot and calls EnterLong() to place an order.

It also checks if the SqueezeDef plot crosses below the IsSqueezes plot and calls ExitLong() to exit your position.

That said, I cannot say for certain how exactly your script would function. You would need to test your script to see exactly how it performs based on your overall goals.

Note that you could consider using Greater Than/Less Than comparisons instead of CrossAbove/CrossBelow.

Let me know if I may assist further.