OPEN-SOURCE SCRIPT
Keltner Worm Forecast
Updated
Beta V0.1.0
This Keltner Channel Worm gives 6 different KCs at max, and allows you to set a multiplier for the offset and worm settings (exponential).
The idea behind this script is that the overall brightness of the Keltner Channel will indicate the strength of the forecast. If the candles are shrouded by darkness, a correction is due.
Enjoy and let me know if you have any suggestions for improvements down below!
<3 Happy Trading
Sir Poggy
This Keltner Channel Worm gives 6 different KCs at max, and allows you to set a multiplier for the offset and worm settings (exponential).
The idea behind this script is that the overall brightness of the Keltner Channel will indicate the strength of the forecast. If the candles are shrouded by darkness, a correction is due.
Enjoy and let me know if you have any suggestions for improvements down below!
<3 Happy Trading
Sir Poggy
Release Notes
- Added a status box for the Worm with a single true/false forecast. (May add more forecasting in the future)
Release Notes
- Changed how forecast is detected (uses high/low instead of close)
Release Notes
- Added inputs for color and transparency
Release Notes
v0.5.0 BETA- Added forecast strength percentage calculation
- Added alert for Strong Worm Forecast
- Reordered the worm printing text to make more sense
- Various bug fixes
- Added comments
Release Notes
- I accidentally removed the color code
Release Notes
v1.0.0 Full Release version- Changed default values, cleaned up code.
Release Notes
- Added Long and Short alerts - Alerts for Long and Short are triggered when the outermost Keltner Worm value is crossed down [S] or up [L]
- Some bug fixes.
- Added display in the status box for a long and short opportunity.
Release Notes
v1.1.0- Added long and short labels to the chart
Release Notes
- Made some changes to some formulas
- Fixed an issue with worm exit alert repeatedly triggering
- Added options to enable or disable alerts separate from hiding and showing labels.
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 publication is governed by House rules. You can favorite it to use it on a chart.
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.