What is SqueezedSetup and Squeeze Level % ?

Definition:
When Bollinger bands get inside the Keltner channels then the stock is considered inside the TTM Squeeze.

Example:

Squeeze Level is a score defined by Jarvis to indicate the degree of squeezed-ness.
Higher the score %, higher the squeeze for the stock.

Okay But what does it really mean ?

This one gets confused a lot, it’s not at all about the popular squeezes out there like Short Squeeze, Gamma Squeeze. Stocks which are just stuck and tightening on the daily timeframe.
When a stock is in SqueezedSetup, it basically not doing much. Its just waiting for something, some catalyst, could be ER, FDA approval or rejection, anything else that market participants are just waiting for. And while they wait, the stock does not really move much.

Squeezed Setup is a consolidation scanner. The expectation is the longer the consolidation the explosive the move after.

But what direction ?
no body knows. So these stocks are just to be kept on watch and monitored, no action is expected, other than watching for Squeezed Stocks which have abnormal volumes.
Eventually the Stock will move out of the Keltner Channels and Bollinger Bands, and that can be when you take an action.

Example: