OPEN-SOURCE SCRIPT
Updated Zero Lag Keltner Channels
This is Keltner Channelz (KC) with Zero Lag Moving Average (ZLMA as base). It is smoother and has less lag than the original (EMA/SMA) variant.
It also can be used as a trend indicator and trend confirmation indicator. The upper and lower bands are green if it is an up trend, and red if a down trend. If both have the same color it is a stronger trend.
It also can be used as a trend indicator and trend confirmation indicator. The upper and lower bands are green if it is an up trend, and red if a down trend. If both have the same color it is a stronger trend.
Release Notes
- dynamically colorized center line
- dynamically colorized background: it will be green if all lines are green, red if all lines are red and gray otherwise
- cleaned and commented code
Release Notes
You can now select between Zero Lag EMA (ZLEMA) and Hull MA, which is similar low lag and smooth moving average.Release Notes
- Added ALMA (ARNAUD LEGOUX MOVING AVERAGE) to selectable moving average types
- It measures the width of the channel and print it with blue color
Release Notes
- Use function for MA selection
- Different MAs for base line and range (ATR)
- Added lagging moving averages for reference (SMA, EMA, RMA)
- It can remove outliers by using stdev for True Range, the same idea as in my other indicator: "ATR Without Outliers" (ATRWO)
- Fixed plotting channel width into data window only (TradingView removed the original method I used)
- Added ATR into data window
Release Notes
Fixed HMARelease Notes
Fixed range MA input nameRelease Notes
- Uses my TAExt library
- Support different sources for upper and lower bands
- More MAs, also lagging ones, but this makes a whole lot of usage possibilities (e.g. dynamic support resistance cloud)
- Setting look back period for trend coloring is now possible
- Ability to turn off trend colors if you use it just for stop and take profit levels or S/R cloud
- Parameter grouping and tooltips
Release Notes
Multiple timeframe support
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 publication is governed by House rules. You can favorite it to use it on a chart.
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