Possible scenario that may play out till MtGox announcement — Indicator by LazyBear

MtGox announcement is something everyone is waiting for...I am expecting a lot of sell off tomm.

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Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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Want to use this script on a chart?

//
// @author LazyBear
// @credits Formula taken from http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:keltner_channels
// v02 - fixed the bull/bear colors, I accidentally switched them in the prev ver. 
// v01 - initial release
//
study(title="Keltner Channel [LazyBear]", overlay=true)
offset = 1
lengthMiddle = input(20,  title="MiddleEMA")
channelATR = input(10, title="Channel wall ATR")
channelWidth = input(2, title = "Channel Width")
showBarColor = input(true, title="Highlight Bear/Bull indicators?", type=bool)

emaVal = ema(close,lengthMiddle)
upperVal = emaVal + channelWidth * atr(channelATR)
lowerVal = emaVal - channelWidth * atr(channelATR)

middle_line = plot(emaVal, style=circles, linewidth=2)
upper_line = plot(upperVal)
lower_line = plot(lowerVal)
fill(upper_line, lower_line, color=green, transp=80)

bearish = low < lowerVal
bear_point = bearish ? (low-offset) : na
bear_color = bearish ? red : na

bullish = high > upperVal 
bull_point = bullish ? (high+offset) : na
bull_color = bullish ? green : na

bar_color = bearish ? bear_color : (bullish ? bull_color : na)

plot(bear_point, color = bear_color, style=cross, linewidth=2)
plot(bull_point, color = bull_color, style=cross, linewidth=2)

bgcolor(showBarColor ? bar_color : na)