shtcoinr

Keltner Zones

This is an indicator that draws support and resistance zones / levels based on price action in and around Keltner Channels .

There are 3 different modes;
  • Draw zones based on price breaking the upper band
  • Draw zones based on price breaking the lower band
  • Draw zones if price stays within the bands for a prolonged period of time.

You can also decide if you want the indicator to paint zones or levels. The Zones can grow rather large if there is a volatility shock since they are drawn using the true range around the trigger price.

Upper Band Zones

Lower Band Zones

Congestion Zone
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 a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?