Double Keltner Bands
I have added a 2nd Keltner to the standard TV Keltner Bands indicator. This allows for several different combinations available to the user -
1. Can use same moving avg length for both, with different multipliers, thus having an "outer" and "inner" set of bands.
2. Can use different moving avg lengths with same/different multipliers, providing some possible occurrences where both sets of bands come together, or one exceeds the other at key turning points, etc.
3. Can show just one set of bands, but have 2 different mov avgs shown (for crossings, for example, a 10prd and 20prd).
4. Can just use the 2 different mov avgs, no bands shown.
These are just a few ideas. The avgs can be either exponential or simple, or can combine one of each. There's room for creativity as to how they are used.
Hope you find these of value in some way.
1. Can use same moving avg length for both, with different multipliers, thus having an "outer" and "inner" set of bands.
2. Can use different moving avg lengths with same/different multipliers, providing some possible occurrences where both sets of bands come together, or one exceeds the other at key turning points, etc.
3. Can show just one set of bands, but have 2 different mov avgs shown (for crossings, for example, a 10prd and 20prd).
4. Can just use the 2 different mov avgs, no bands shown.
These are just a few ideas. The avgs can be either exponential or simple, or can combine one of each. There's room for creativity as to how they are used.
Hope you find these of value in some way.
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.