Keltner Channels Strategy

Add It to Your TradingView Chart

1. 1Copy the scriptPress Copy script above, or the copy button on the code below.
2. 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
3. 3Paste over the templateCreate a new strategy, select all of the template text and paste. Press Save and give it a name.
4. 4Add it to the chartPress Add to chart. The trades and results appear in the Strategy Tester tab; adjust the settings with the gear icon.

Source Code

38 lines of Pine Script v5 from Strategies/All Strategies are Here 🤩/Keltner-Channel Strategy.pine, published under MIT. Keep the author's credit and licence lines when you reuse it.

//@version=5
strategy(title="Keltner Channels Strategy", overlay=true)
length = input.int(20, minval=1)
mult = input.float(2.0, "Multiplier")
src = input(close, title="Source")
exp = input(true, "Use Exponential MA")
BandsStyle = input.string("Average True Range", options = ["Average True Range", "True Range", "Range"], title="Bands Style")
atrlength = input(10, "ATR Length")
esma(source, length)=>
    s = ta.sma(source, length)
    e = ta.ema(source, length)
    exp ? e : s
ma = esma(src, length)
rangema = BandsStyle == "True Range" ? ta.tr(true) : BandsStyle == "Average True Range" ? ta.atr(atrlength) : ta.rma(high - low, length)
upper = ma + rangema * mult
lower = ma - rangema * mult
crossUpper = ta.crossover(src, upper)
crossLower = ta.crossunder(src, lower)
bprice = 0.0
bprice := crossUpper ? high+syminfo.mintick : nz(bprice[1])
sprice = 0.0
sprice := crossLower ? low -syminfo.mintick : nz(sprice[1])
crossBcond = false
crossBcond := crossUpper ? true
     : na(crossBcond[1]) ? false : crossBcond[1]
crossScond = false
crossScond := crossLower ? true
     : na(crossScond[1]) ? false : crossScond[1]
cancelBcond = crossBcond and (src < ma or high >= bprice )
cancelScond = crossScond and (src > ma or low <= sprice )
if (cancelBcond)
    strategy.cancel("KltChLE")
if (crossUpper)
    strategy.entry("KltChLE", strategy.long, stop=bprice, comment="KltChLE")
if (cancelScond)
    strategy.cancel("KltChSE")
if (crossLower)
    strategy.entry("KltChSE", strategy.short, stop=sprice, comment="KltChSE")

Overview

Band width uses average true range, raw true range, or a smoothed high-low range, scaled by a multiplier. When the source crosses above the upper band, it places a long stop order one tick beyond that bar's high; a cross below the lower band places a short stop one tick beyond the low. Pending orders cancel if price returns through the average or reaches the stop. It overlays the price chart and has no stop loss or exit rules by default.

• EMA or SMA center line
• ATR, true range, or range width
• Long stop entry beyond the bar high
• Short stop entry beyond the bar low
• Pending order cancellation around the average

Details

Settings

The inputs you can change from the gear icon on the chart. Defaults are the author's.

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