OPEN-SOURCE SCRIPT
Keltner Channels + EMA 56 Colorizer
his indicator is a complete trend-following system designed to visually guide you through strong market trends by combining the volatility-based Keltner Channels with a medium-term 56-period Exponential Moving Average (EMA).
Instead of just plotting lines, this script repaints the chart's candles based on the current trend phase, allowing for split-second market context recognition. It also includes a built-in Multi-Timeframe (MTF) Dashboard to check trend alignment across higher timeframes without leaving your current chart.
How the Logic Works:
The indicator analyzes the relationship between the Keltner Channels boundaries and the 56 EMA:
Bullish Trend (Buy Zone): When the Lower Band of the Keltner Channel crosses above the 56 EMA. The market is in a strong uptrend, and candles are colored in bullish tones.
Bearish Trend (Sell Zone): When the Upper Band of the Keltner Channel crosses below the 56 EMA. The market is in a strong downtrend, and candles are colored in bearish tones.
Neutral Zone: When the EMA is trading inside the Keltner Channels. The market is consolidating or transitioning, and candles are colored in neutral (gray/black) tones.
Key Features:
Dynamic Candle Coloring: Total control over candle colors. The script distinguishes between up-candles (close > open) and down-candles (close < open) within each trend phase, giving you 18 independent color settings for bodies, borders, and wicks.
MTF Dashboard: A small, fully customizable table displayed on your chart showing the current signal (Buy, Sell, or Neutral) across 5 different timeframes. Perfect for top-down analysis.
Fully Customizable: You can adjust the Keltner Channel parameters (Length, Multiplier, ATR/True Range/Range style, SMA/EMA basis), the EMA length, and the dashboard position to fit your personal trading strategy.
Usage Tip:
Because this indicator draws custom colored candles over the chart to give you independent control over bodies, borders, and wicks, we highly recommend hiding the default chart candles.
How to hide: Right-click the chart background > Settings > Symbol > Uncheck "Body", "Borders", and "Wick" under the Candlesticks section.
Instead of just plotting lines, this script repaints the chart's candles based on the current trend phase, allowing for split-second market context recognition. It also includes a built-in Multi-Timeframe (MTF) Dashboard to check trend alignment across higher timeframes without leaving your current chart.
How the Logic Works:
The indicator analyzes the relationship between the Keltner Channels boundaries and the 56 EMA:
Bullish Trend (Buy Zone): When the Lower Band of the Keltner Channel crosses above the 56 EMA. The market is in a strong uptrend, and candles are colored in bullish tones.
Bearish Trend (Sell Zone): When the Upper Band of the Keltner Channel crosses below the 56 EMA. The market is in a strong downtrend, and candles are colored in bearish tones.
Neutral Zone: When the EMA is trading inside the Keltner Channels. The market is consolidating or transitioning, and candles are colored in neutral (gray/black) tones.
Key Features:
Dynamic Candle Coloring: Total control over candle colors. The script distinguishes between up-candles (close > open) and down-candles (close < open) within each trend phase, giving you 18 independent color settings for bodies, borders, and wicks.
MTF Dashboard: A small, fully customizable table displayed on your chart showing the current signal (Buy, Sell, or Neutral) across 5 different timeframes. Perfect for top-down analysis.
Fully Customizable: You can adjust the Keltner Channel parameters (Length, Multiplier, ATR/True Range/Range style, SMA/EMA basis), the EMA length, and the dashboard position to fit your personal trading strategy.
Usage Tip:
Because this indicator draws custom colored candles over the chart to give you independent control over bodies, borders, and wicks, we highly recommend hiding the default chart candles.
How to hide: Right-click the chart background > Settings > Symbol > Uncheck "Body", "Borders", and "Wick" under the Candlesticks section.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.