A cleaner aesthetic and an introduction to the indicator's uses.
I would also be very appreciative of any Keltner Channels related ideas or concepts you may have run across to add features to this indicator.
First and most importantly: For this script I have used the relatively new "plotcandle" feature. YOU MUST TURN OFF THE BUILT IN CANDLES/BARS at the top of the screen.
If you don't know how to hide the built-in candles/bars and need help message me.
This is candle coloring as per Leaf_West : tradingwithleafwest.net
Elsewhere I have...
**** [Edit: New version (v02) posted, see the comments section for the code *****
Simple strategy. You only consider taking a squeeze play when both the upper and lower Bollinger Bands go inside the Keltner Channel. When the Bollinger Bands (BOTH lines) start to come out of the Keltner Channel, the squeeze has been released and a move is about to take place.