j1O9SB

Keltner Channels Oscillator v2

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.
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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)
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
Reply
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?

Reply
j1O9SB kinggold
Of course. Just tell me which color you want them to be and I'll have the indicator up asap.
Reply
kinggold j1O9SB
Thanks, bull candles white and bear candles red.
Reply
j1O9SB kinggold


There is an issue with indicator candles where you can't have alternating wick or candle border colors.
Reply
kinggold j1O9SB
Candle color doesn't matter to me. Same candle color in white would be just as great.
Reply
j1O9SB kinggold
I'll be making the v3 oscillator into a candle version if you're interested.
Reply
kinggold j1O9SB
I prefer the unmarked 2nd version. The lines in the 3rd version are a little intrusive.
Reply
My apologies that the chart is a mess. I reposted it as an idea.
Reply
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