OPEN-SOURCE SCRIPT
Keltner Channel MTF Oscillator
OVERVIEW
The Keltner Channel MTF Oscillator brings eight intraday Keltner Channels into one normalized oscillator pane, making it easier to compare trend, volatility, and price location across multiple timeframes without stacking indicators.
INCLUDED TIMEFRAMES
• 1 minute
• 3 minutes
• 5 minutes
• 15 minutes
• 30 minutes
• 1 hour
• 2 hours
• 4 hours
Every timeframe can be enabled or disabled independently.
HOW IT WORKS
Each channel uses an EMA centerline with ATR-based upper and lower bands. The EMA length, ATR length, ATR multiplier, and source are adjustable.
All plotted values are normalized against the 4-hour Keltner Channel:
• 4H upper band = +100
• 4H basis = 0
• 4H lower band = -100
The thick white line represents the current chart-timeframe price source. The colored envelopes display the upper band, basis, and lower band for each enabled timeframe.
FEATURES
• Eight independently toggleable timeframes
• Colored multi-timeframe channel envelopes
• Optional basis lines and channel fills
• Adjustable EMA and ATR settings
• Optional strict -100 to +100 clamping
• Clear 4-hour reference levels
• Separate oscillator pane
INTERPRETATION
Values above zero place price above the 4-hour Keltner basis, while values below zero place it beneath the basis. Readings near +100 approach the 4-hour upper channel, and readings near -100 approach the lower channel.
Channel compression can highlight volatility contraction. Expansion or separation between timeframe channels can help reveal increasing volatility or disagreement across timeframes.
When clamping is disabled, values may exceed +/-100, allowing breakouts beyond the 4-hour envelope to remain visible.
NOTES
Higher-timeframe values can change until their corresponding candles close. Lower-timeframe information displayed on a higher-timeframe chart is sampled according to TradingView's multi-timeframe behavior.
This indicator is intended for informational and educational purposes only. It is not financial advice and does not guarantee future results.
The Keltner Channel MTF Oscillator brings eight intraday Keltner Channels into one normalized oscillator pane, making it easier to compare trend, volatility, and price location across multiple timeframes without stacking indicators.
INCLUDED TIMEFRAMES
• 1 minute
• 3 minutes
• 5 minutes
• 15 minutes
• 30 minutes
• 1 hour
• 2 hours
• 4 hours
Every timeframe can be enabled or disabled independently.
HOW IT WORKS
Each channel uses an EMA centerline with ATR-based upper and lower bands. The EMA length, ATR length, ATR multiplier, and source are adjustable.
All plotted values are normalized against the 4-hour Keltner Channel:
• 4H upper band = +100
• 4H basis = 0
• 4H lower band = -100
The thick white line represents the current chart-timeframe price source. The colored envelopes display the upper band, basis, and lower band for each enabled timeframe.
FEATURES
• Eight independently toggleable timeframes
• Colored multi-timeframe channel envelopes
• Optional basis lines and channel fills
• Adjustable EMA and ATR settings
• Optional strict -100 to +100 clamping
• Clear 4-hour reference levels
• Separate oscillator pane
INTERPRETATION
Values above zero place price above the 4-hour Keltner basis, while values below zero place it beneath the basis. Readings near +100 approach the 4-hour upper channel, and readings near -100 approach the lower channel.
Channel compression can highlight volatility contraction. Expansion or separation between timeframe channels can help reveal increasing volatility or disagreement across timeframes.
When clamping is disabled, values may exceed +/-100, allowing breakouts beyond the 4-hour envelope to remain visible.
NOTES
Higher-timeframe values can change until their corresponding candles close. Lower-timeframe information displayed on a higher-timeframe chart is sampled according to TradingView's multi-timeframe behavior.
This indicator is intended for informational and educational purposes only. It is not financial advice and does not guarantee future results.
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.