Re-interpreted from @Morpheus_Trading_Suite for visual purposes and re-worked the math on the Keltner formula.
Keltner Channel Calculation
Keltner Channel Middle Line=EMA
Keltner Channel Upper Band=EMA+multiplier∗ATR
Keltner Channel Lower Band=EMA−multiplier∗ATR
where:
EMA=Exponential moving average (typically over 20 periods)
ATR=Average True Range (typically over 10 or 20 periods)
I wanted dual Keltner channels in a single indicator. If you add the default Tradingview Keltner channels twice with multipliers of 1 and 2, it should overlay exactly.
Keltner Channel Calculation
Keltner Channel Middle Line=EMA
Keltner Channel Upper Band=EMA+multiplier∗ATR
Keltner Channel Lower Band=EMA−multiplier∗ATR
where:
EMA=Exponential moving average (typically over 20 periods)
ATR=Average True Range (typically over 10 or 20 periods)
I wanted dual Keltner channels in a single indicator. If you add the default Tradingview Keltner channels twice with multipliers of 1 and 2, it should overlay exactly.