OPEN-SOURCE SCRIPT
Keltner Trend
This indicator takes the concept of Keltner Channels and uses them as a trend following system by using a deviation band of 1 ATR, such that when the price closes above the upper band a bull trend is predicted to follow, and when the price closes below the lower band the start of a bear trend is assumed.
Only 1 band is plotted at all times depending on the bias of the trend.
Default settings are a 21 EMA as a centerline with a 13 period ATR.
Enjoy!
Only 1 band is plotted at all times depending on the bias of the trend.
Default settings are a 21 EMA as a centerline with a 13 period ATR.
Enjoy!
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