Keltner Channels Bands (RMA)

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Keltner Channel Bands
These normally consist of:
Keltner Channel Upper Band = EMA + Multiplier ∗ ATR
Keltner Channel Lower Band = EMA − Multiplier ∗ ATR

However instead of using ATR we are using RMA
This gives us a much smoother take of the KCB

We are also using 2 sets of bands built on 1 Moving average, this is a common set up for mean reversion strategies.
This can often be paired with RSI for lower timeframe divergences

This is using the RSI to calculate when price sets new lows/highs whilst the RSI movement is in the opposite direction.
The way this is calculated is slightly different to traditional divergence scripts. instead of looking for pivot highs/lows in the RSI we are logging the RSI value when price makes it pivot highs/lows.

Gradient Bands
The Gradient Colouring on the bands is measuring how long price has been either side of the MA.
As Keltner bands are commonly used as a mean reversion strategy, I thought it would be useful to see how long price has been trending in a certain direction, the stronger the colours get,
the longer price has been trending that direction which could suggest we are looking for a retrace soon.

Alerts included let you choose whether you want to receive an alert for the inside, outside or both band touches.
To set up these alerts, simply toggle them on in the settings, then click on the 3 dots next to the indicators name, from there you click 'Add Alert'.
From there you can customise the alert settings but make sure to leave the 2 top boxes which control the alert conditions. They will be default selected onto your correct settings, the rest you may want to change.
Once you create the alert, it will then trigger as soon as price touches your chosen inside/outside band.

Please feel free to offer any suggestions which you think could improve the script

The default settings/parameters were shared by Jimtalbott, feel free to play about with the and use this code to make your own strategies.
Nota Keluaran:
Divergence Signals now calculated on close prices rather than wicks

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