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)
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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" |
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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/
Sorry, cant seem to submit an image..?? The link contains one however..
hi is it possible to duplicate 2 different keltners on same price ie one at 34 2nd at 17 , i cant seem get both