OPEN-SOURCE SCRIPT
Optimized Keltner Channels Strategy [NIFTY]
Two gentle, mathematically sound optimization methods have been added to the original logic:
Optional 200 EMA Trend Filter: Keeps your breakouts aligned with the macro trend (Longs only above 200 EMA, Shorts only below)[1].
Optional Mid-Band Close Exit: Instead of waiting for a full opposite-channel breakout to exit, this closes the trade if the price closes past the Middle Band (the baseline). This cuts losses early without choking the trade with a tight ATR stop.
Optional 200 EMA Trend Filter: Keeps your breakouts aligned with the macro trend (Longs only above 200 EMA, Shorts only below)[1].
Optional Mid-Band Close Exit: Instead of waiting for a full opposite-channel breakout to exit, this closes the trade if the price closes past the Middle Band (the baseline). This cuts losses early without choking the trade with a tight ATR stop.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.