Keltner Channels Oscillator v2
צפיות 1494
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 would also be very appreciative of any Keltner Channels related ideas or concepts you may have run across to add features to this indicator.
study(title="Keltner Channels Oscillator",shorttitle="KCO",overlay=false,precision=1) //Inputs kc_len=input(21,title="Keltner Channel Length") kc_mult1=input(1,title="Keltner Channel First Multiple") kc_mult2=input(2,title="Keltner Channel Second Multiple") kc_src=input(close,title="Keltner Channel Source") //Keltner Channel kc_ma=ema(kc_src,kc_len) kc_rng=ema(tr,kc_len) kc_oneup=kc_ma+kc_rng*kc_mult1 kc_onedn=kc_ma-kc_rng*kc_mult1 kc_twoup=kc_ma+kc_rng*kc_mult2 kc_twodn=kc_ma-kc_rng*kc_mult2 //Oscillator kc_lvlclose=(close-kc_ma)/kc_rng kc_lvlopen=(open-kc_ma)/kc_rng kc_lvlhigh=(high-kc_ma)/kc_rng kc_lvllow=(low-kc_ma)/kc_rng kc_lvloneup=(kc_oneup-kc_ma)/kc_rng kc_lvlonedn=(kc_onedn-kc_ma)/kc_rng kc_lvltwoup=(kc_twoup-kc_ma)/kc_rng kc_lvltwodn=(kc_twodn-kc_ma)/kc_rng //Color kc_col=kc_lvlclose>0?green:red kc_colbar=(close>open)?white:black //Plots plotbar(kc_lvlopen,kc_lvlhigh,kc_lvllow,kc_lvlclose,color=kc_colbar,editable=true) plot(0,color=gray,style=line,linewidth=1,editable=false) plot(2,color=white,style=line,linewidth=1,editable=false) plot(1,color=white,style=line,linewidth=1,editable=false) plot(-1,color=black,style=line,linewidth=1,editable=false) plot(-2,color=black,style=line,linewidth=1,editable=false)
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
There is an issue with indicator candles where you can't have alternating wick or candle border colors.