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Keltner Zones

shtcoinr  
Keltner Channels (KC) support Support and Resistance zones levels priceaction
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keltnerchannels support supportandresistance zones levels priceaction
This is an indicator that draws support and resistance zones / levels based on price action in and around Keltner Channels.

There are 3 different modes;
  • Draw zones based on price breaking the upper band
  • Draw zones based on price breaking the lower band
  • Draw zones if price stays within the bands for a prolonged period of time.

You can also decide if you want the indicator to paint zones or levels. The Zones can grow rather large if there is a volatility shock since they are drawn using the true range around the trigger price.

Upper Band Zones
snapshot

Lower Band Zones
snapshot

Congestion Zone
snapshot
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.

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.

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