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Keltner Channel Volatility Filter

OVERVIEW
The Keltner Channel Volatility Filter indicator is a technical indicator that gauges the amount of volatility currently present in the market. The purpose of this indicator is to filter out with-trend signals during ranging/non-trending/consolidating conditions.


CONCEPTS
This indicator assists traders in capitalizing on the assumption that trends are more likely to start during periods of high volatility compared to periods of low volatility . This is because high volatility indicates that there are bigger players currently in the market, which is necessary to begin a sustained trending move.

So, to determine whether the current volatility in the market is low, the KCVF will grey out all bars whose average price is within the Keltner Channels .

If the average price breaks out of the Keltner Channels , it is reasonable to assume we are in a high-volatility period. Thus, this is the ideal time to enter a trending trade due to the assumption that trends are more likely to start during these high-volatility periods.


HOW DO I READ THIS INDICATOR
When the candles are greyed out, don't take any trend trades since the current volatility is less than the usual volatility experienced in the market.

When the candles aren't greyed out, take all valid with-trend trades since the current volatility is greater than the usual volatility experienced in the market.
Skrip open-source

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