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CQ KeltnerPosition

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This indicator shows where price is positioned inside a Keltner Channel using a normalized scale.

The output is a single oscillator that ranges from −1 to +1:

−1 when price is at the lower Keltner band

0 when price is at the channel midpoint

+1 when price is at the upper Keltner band

Values between these levels represent the relative position of price within the channel.

How it works

The Keltner Channel is built using a moving-average basis and an ATR-based range.

Upper and lower bands are calculated as:

Upper = Basis + (Multiplier × ATR)

Lower = Basis − (Multiplier × ATR)

The position is then normalized as:

((price − lower) / (upper − lower)) × 2 − 1

This normalization ensures consistent behavior across symbols, timeframes, and volatility regimes.

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