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Keltner Channel

Category: Indicators By: lolo Created: October 12, 2015, 8:15 PM

October 12, 2015, 8:15 PM

Indicators

4 Comments

A keltner channel is based on two bands, plotted above and a moving average. It is similar to bollinger bands except it uses Average true range instead of standard deviation. The upper band is a moving average plus some multiple of the Average True Range. The lower band is the moving average minus a multiple of the Average True Range.

Parameters

Period (Period = 10)

BandMovingAverage=AVERAGE[period](high-low)
MiddleMovingAverage=AVERAGE[period](TypicalPrice)

upperband=MiddleMovingAverage+BandMovingAverage
lowerband=MiddleMovingAverage-BandMovingAverage

DMA= AVERAGE[period](TypicalPrice)

RETURN upperband COLOURED (0,200,0) AS"Keltner Upper Band", lowerband COLOURED (0,200,0) AS"Keltner Lower Band", DMA COLOURED (0,0,255) AS"DMA"

Download

Filename: Keltner-Channel.itf

Downloads: 302

lolo Average

Currently debugging life, so my bio is on hold. Check back after the next commit for an update.

Author’s Profile

Similar code

Keltner Channel (EMA, ATR)Indicators

Comments

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ed65

6 years ago

hi is it possible to duplicate 2 different keltners on same price ie one at 34 2nd at 17 , i cant seem get both

torkelab

9 years ago

Sorry, cant seem to submit an image..?? The link contains one however..

torkelab

9 years ago

Keltner EMA 20 ATR 2.25

torkelab

9 years ago

Hi Nicholas, How would you apply this indicator to Adam H Grimes settings? "On these charts, I have Keltner channels (set 2.25 ATRs around a 20 period EMA) " https://adamhgrimes.com/technicals-everyone-overbought-oversold/ Keltner ATR 2.25 EMA 20

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