OPEN-SOURCE SCRIPT

Original Keltner with Support And Resistance

Aktualisiert
This indicator is based on the original Keltner Channels using typical price and calculating the 10 period average of high - low

Typical price = (high + low + close)/3

In this case, I've taken Typical price as (open + high + low + close)/4 on the advice of John Bollinger from his book Bollinger on Bollinger Bands.

Buy Line = 10 Period Typical Price Average + 10 Period Average of (High - Low)
Sell Line = 10 Period Typical Price Average - 10 Period Average of (High - Low)

This is the basis for the indicator. I've added the highest of the Buy Line and lowest of the Sell Line for the same period which acts as Support and Resistance.

If price is trending below the Lowest of Sell Line, take only sell trades and the Lowest Line acts as resistance.

If price is trending above the Highest of Buy Line, take only buy trades and the Highest Line acts as support.
Versionshinweise
Removed the bool argument since it doesn't get with the indicator's purpose.
Bands and Channelskeltnerchannel

Open-source Skript

Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun das Script auch andere Trader verstehen und prüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden. Die Nutzung dieses Codes in einer Veröffentlichung wird in unseren Hausregeln reguliert. Sie können es als Favoriten auswählen, um es in einem Chart zu verwenden.

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