triple Keltner Channels with Z-Score V2

This script expands on the classic Keltner Channel by plotting three adaptive volatility bands around an EMA baseline and introducing a dynamic Z-Score calculation to quantify price positioning within or beyond those bands.

Features

Three Keltner Channels:

Inner Channel at ×2 ATR

Outer Channel at ×3 ATR

Extended Channel at ×3.5 ATR

Customizable Inputs: EMA length, ATR length, and multipliers can be adjusted to suit different market conditions or asset volatility.

Z-Score Integration: Converts price location relative to the channels into standardized scores (from +2.5 to –2.5). Positive Z indicate a good value/zone to buy while negative one is the contrary (do not use it alone, use it with other indicators )
This provides a statistical lens for identifying overextended, neutral, or mean-reverting conditions.

Visual Clarity: Channel fills highlight volatility zones, while an on-chart label dynamically displays the current Z-Score.

How to Use

Overbought/Oversold Signals: Extreme Z-Score readings (±2 and beyond) suggest stretched conditions that often precede pullbacks or reversions.

Mean Reversion vs Breakout: Traders can assess whether price is likely to revert to the mean (EMA) or sustain momentum beyond outer bands.

Originality

Unlike a standard Keltner Channel, this one:

Uses three progressively wider ATR multiples for deeper volatility mapping.

Adds a Z-Score framework to statistically measure price displacement.

Provides a visual + numerical hybrid output (bands + live Z-Score label).

use only on 1W timeframe