Keltner Channels simple but effective profit targets
Updated
Our new super simple KC Crypto Profit Targets +/- 2 script (OK we gotta work on the title) works like a charm. The circles show almost exact hits of the price at the 2 ATR (All Time Range) multiplier levels (upper and lower blue bands).
Our script discards the +/- 1 and +/- 3 ATR multipliers for simplicity and conservative profit taking sake.
Note that this is the HOURLY chart for a rather volatile and - let's be honest - irrational period in crypto, in particular ETHEREUM. Even so, we see lots of ideal profit opportunities thanks to this simplified Keltner Channels script. Not bad!
Hope it helps!
Our script discards the +/- 1 and +/- 3 ATR multipliers for simplicity and conservative profit taking sake.
Note that this is the HOURLY chart for a rather volatile and - let's be honest - irrational period in crypto, in particular ETHEREUM. Even so, we see lots of ideal profit opportunities thanks to this simplified Keltner Channels script. Not bad!
Hope it helps!
Note
Important note: it's imperative you identify whether you're trading in an UP trend or DOWN trend. Notice how the left of the chart shows a clear UP trend, and as such the KC bands are expectedly hitting the UPPER band, then go down to the 21 EMA (mean reversion) until they again move up and stop around the UPPER band. But beginning at the middle/right chart, the trend REVERSES - we're not looking at a DOWN trend. As such, the KC bands are hitting the LOWER band, then go up to the 21 EMA (-ish; mean reversion) until they again move DOWN and stop around the LOWER band.
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