LazyBear

Keltner Channel v2 - Auto highlighting of Bull/Bear trends

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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)
Works Great!
+2 Reply
LazyBear PRO QuantitativeExhaustion
:)
+2 Reply
I cannot keep up with you:) great work- tnx for sharing
+1 Reply
LazyBear PRO sublimares2
Thx. Feel free to fix the colors :P
+1 Reply
sublimares2 LazyBear
I always do:)
+1 Reply
how install this script on exness chart and other broker chart
Reply
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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