PROTECTED SOURCE SCRIPT
Updated Keltner Color count [DinhChienFX]
Use the synchronization of the 3 lines Basis, Upper, Lower to calculate whether the trend will continue or not.
1. Color the 3 lines Basis, Upper, Lower of the Keltner channel
- If the value of 3 Basis, Upper, and Lower lines in front of a candle increases, fill in green.
- If the value of 3 Basis, Upper, and Lower lines in front of one candle decreases, color in red.
- If 1 of the 3 lines Basis, Upper, and Lower are not in the same direction, paint in gray.
2. Identify the trend.
a. Assign a score for the channel color.
... If blue plus 1 point.
... If red subtracts 1 point.
... If gray gives 0 points.
b. Formula for calculating trend:
Take the total number of past candles. If total> 0 is an Up trend. If total <0 is the downtrend. If total = 0 is sideways.
...Uptrend
...Downtrend
Example: Counting 25 past candles equates to 1 day + 1 hour to determine a trend.
1. Color the 3 lines Basis, Upper, Lower of the Keltner channel
- If the value of 3 Basis, Upper, and Lower lines in front of a candle increases, fill in green.
- If the value of 3 Basis, Upper, and Lower lines in front of one candle decreases, color in red.
- If 1 of the 3 lines Basis, Upper, and Lower are not in the same direction, paint in gray.
2. Identify the trend.
a. Assign a score for the channel color.
... If blue plus 1 point.
... If red subtracts 1 point.
... If gray gives 0 points.
b. Formula for calculating trend:
Take the total number of past candles. If total> 0 is an Up trend. If total <0 is the downtrend. If total = 0 is sideways.
...Uptrend
...Downtrend
Example: Counting 25 past candles equates to 1 day + 1 hour to determine a trend.
Release Notes
Add to Keltner Upper 3 & Keltner Lower 3 lineRelease Notes
Use or not use color lookbackProtected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.