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
Release Notes:
Add to Keltner Upper 3 & Keltner Lower 3 line
Release Notes:
Use or not use color lookback
