LazyBear

Keltner Channel v2 - Auto highlighting of Bull/Bear trends

1221 7 114
Please do not use the previous version (https://www.tradingview.com/v/WH1PVDTO/), I was using wrong colors for Bull/Bear there.

All options configurable.

Reversals are marked using crosses. as well as highlighted using green/red color (depending on bull/bear). Enjoy!

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//
// @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)
List of my free indicators: http://bit.ly/1LQaPK8
List of my indicators at Appstore: http://blog.tradingview.com/?p=970

Works Great!
+2 Reply
LazyBear PRO QuantitativeExhaustion
2 years ago
:)
+2 Reply
sublimares2
2 years ago
I cannot keep up with you:) great work- tnx for sharing
+1 Reply
LazyBear PRO sublimares2
2 years ago
Thx. Feel free to fix the colors :P
+1 Reply
sublimares2 LazyBear
2 years ago
I always do:)
+1 Reply
haq2fame
a year ago
how install this script on exness chart and other broker chart
Reply
LazyBear PRO haq2fame
a year ago
This is coded in Pinescript, TradingView's scripting language. This code cannot be used in any other platform as-is.
+1 Reply
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