A cleaner aesthetic and an introduction to the indicator's uses. I would also be very appreciative of any Keltner Channels related ideas or concepts you may have run across to add features to this indicator.
I like this. Turning the KC into an indicator helps to keep my chart clean. If you are going to make another version in the future, could you do one with color coding that represents high/low vs Channel. For example, something like:
Color 1 = High > KC+2 and Low > KC-1 Color 2 = High > KC+1 and High < KC+2 and Low > KC-1 Color 3 = Low < KC-1 and and Low > KC-2 and High < KC+1 Color 4 = Low < KC-2 and High < KC+1 Color 5 = None of the above
Thank you.
ChartSmartTrading
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Great Indy, thank you. I am struggling to get the oscilator value to show on the scale, am I missing something?
maroof81
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thanks
sriramksharma
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Thank you ! for the novel way of representing the Keltner Channel and that too as an Oscillator with a slight twist to the calculation.
Though I am very late to see the Indicator, Just by glancing at this, I started liking it very much. In order to identify extremes, I have added the following third levels.
kc_mult3=input(3,title="Keltner Channel Third Multiple") // added by me
kc_threeup=kc_ma+kc_rng*kc_mult3 // added by me
kc_threedn=kc_ma-kc_rng*kc_mult3 // added by me
kc_lvlthreeup=(kc_threeup-kc_ma)/kc_rng // added by me
kc_lvlthreedn=(kc_threedn-kc_ma)/kc_rng // added by me
kc_colbar=((kc_lvlclose>kc_lvlonedn)and(kc_lvllow<kc_lvlonedn))?green:((kc_lvlclose<kc_lvloneup)and(kc_lvlhigh>kc_lvloneup))?red:(close>open)?blue:black // moidified by me - instead of white I changed it to blue
plot(kc_lvlthreeup,color=#C285E6,style=line,linewidth=1,editable=false) // added by me
plot(kc_lvlthreedn,color=#C285E6,style=line,linewidth=1,editable=false) // added by me
kinggold
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Thank you for coding this, this indicator is a great research tool. I have one idea for the indicator. Can you add an option to change the bars to candles?
j1O9SB
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Of course. Just tell me which color you want them to be and I'll have the indicator up asap.
Color 1 = High > KC+2 and Low > KC-1
Color 2 = High > KC+1 and High < KC+2 and Low > KC-1
Color 3 = Low < KC-1 and and Low > KC-2 and High < KC+1
Color 4 = Low < KC-2 and High < KC+1
Color 5 = None of the above
Thank you.