Keltner Channels Linda Raschk LBR For ThinkOrSwim

[jhorton56]

This channel is a second version designed by the famous American analyst Linda Raschke; it allows you to find the main trend and to implement a trend-following strategy. You can open a new long/short position when the price cross up the basis and the upper/lower band (jointly with other indicators).

Can someone please give this conversion a shot?
https://www.tradingview.com/script/JtDuXJox/

 

[samer800]

View attachment 22246

Can someone please give this conversion a shot?

This channel is a second version designed by the famous American analyst Linda Raschke; it allows you to find the main trend and to implement a trend-following strategy. You can open a new long/short position when the price cross up the basis and the upper/lower band (jointly with other indicators).

https://www.tradingview.com/script/JtDuXJox/

//@version=3
study(title="Keltner Channels Linda Raschke", shorttitle="KCLR", overlay=true)
useTrueRange = input(true)
length = input(20, minval=1)
mult = input(1.5)
src = input(close, title="Source")
length2 = input(10, minval=1)
ma = ema(src, length)
range = useTrueRange ? tr : high - low
rangema = ema(range, length2)
upper = ma + rangema * mult
lower = ma - rangema * mult
c = fuchsia
cb = purple
u = plot(upper, color=c, title="Upper")
plot(ma, color=cb, title="Basis")
l = plot(lower, color=c, title="Lower")
fill(u, l, color=c)

check the below.

#
# Request from useThinkScript.com member
# Sam4Cok@Samer800    - 06/2024

declare weak_volume_dependency;

input displace = 0;
input useTrueRange = yes;
input price = close;
input baseLineLength = 20;
input bandLength = 10;
input factor = 1.5;
input averageType = AverageType.EXPONENTIAL;
input trueRangeAverageType = AverageType.EXPONENTIAL;


def tr = TrueRange(high, close, low);
def range = if useTrueRange then tr else high - low;
def rangema = factor * MovingAverage(trueRangeAverageType, range, bandLength);

def ma  = MovingAverage(averageType, price, baseLineLength);

plot Avg = ma [-displace];
Avg.SetDefaultColor(Color.MAGENTA);

plot Upper_Band = ma [-displace] + rangema[-displace];
Upper_Band.SetDefaultColor(Color.PLUM);

plot Lower_Band = ma [-displace] - rangema[-displace];
Lower_Band.SetDefaultColor(Color.PLUM);

AddCloud(Upper_Band, Lower_Band, Color.PLUM);

#- End of CODE

 

[jhorton56]

She's a beauty! Thanks, Samer!