RicardoSantos

[RS]Scalpers Channels V0

EXPERIMENTAL:
Scalper channel inspired by keltner's channels
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.

Want to use this script on a chart?
study(title="[RS]Scalpers Channels V0", shorttitle="SC", overlay=true)
useTrueRange = input(true)
length = input(1440, minval=1)
smooth = input(1)
extrasmooth = input(1)
mult_increment = input(0.1)
mult = na(mult[1]) ? mult_increment : high >= upper[1] ? mult[1] + mult_increment : low <= lower[1] ? mult[1] + mult_increment : mult[1]
src = input(close, title="Source")
plot(mult, color=black)
ma = ema(ema(ema(src, length), smooth), extrasmooth)
range = useTrueRange ? tr : cum(tr)/(n+1)
rangema = ema(ema(ema(range, length), smooth), extrasmooth) * mult
upper = ma + rangema * 1
u0882 = ma + rangema * 0.882
u0764 = ma + rangema * 0.764
u0618 = ma + rangema * 0.618
u0500 = ma + rangema * 0.500
u0382 = ma + rangema * 0.382
u0236 = ma + rangema * 0.236
l0236 = ma - rangema * 0.236
l0382 = ma - rangema * 0.382
l0500 = ma - rangema * 0.500
l0618 = ma - rangema * 0.618
l0764 = ma - rangema * 0.764
l0882 = ma - rangema * 0.882
lower = ma - rangema * 1
c = blue
u = plot(upper, color=c, title="Upper")
plot(title='U0882', series=u0882, style=circles, color=black, linewidth=1)
plot(title='U0764', series=u0764, style=circles, color=black, linewidth=1)
plot(title='U0618', series=u0618, style=circles, color=black, linewidth=1)
plot(title='U0500', series=u0500, style=circles, color=black, linewidth=1)
plot(title='U0382', series=u0382, style=circles, color=black, linewidth=1)
plot(title='U0236', series=u0236, style=circles, color=black, linewidth=1)
plot(title='L0236', series=l0236, style=circles, color=black, linewidth=1)
plot(title='L0382', series=l0382, style=circles, color=black, linewidth=1)
plot(title='L0500', series=l0500, style=circles, color=black, linewidth=1)
plot(title='L0618', series=l0618, style=circles, color=black, linewidth=1)
plot(title='L0764', series=l0764, style=circles, color=black, linewidth=1)
plot(title='L0882', series=l0882, style=circles, color=black, linewidth=1)
plot(ma, color=c, title="Basis")
l = plot(lower, color=c, title="Lower")
fill(u, l, color=c)