Is it possible on TC 12.3 to create a chart showing the price relative to 3 channels: 1 times ATR, 2 times ATR and 3 times ATR with a moving average say 21 period in the center.

It would appear similar to bollinger bands except the bands would the dally ATR for example?

ander509

If we use the same moving average period and type to calculate the centerline and the average true range, this can be done relatively easily by using three Custom PCF Channel Indicators with the following settings for the first Custom PCF Channel Indicator:

- Period: 21
- Average Type: Up to you.
- Width Multiplier: 1.00
- Indicator Line Formula: C
- Channel Width Formula: (H - L + ABS(H - C1) + ABS(C1 - L)) / 2
- Plot Center Line: Checked

You would need to set the Width Muliplier to 2.00 and 3.00 for the other two Custom PCF Channel Indicators. You only need to have Plot Center Line checked for one of the three Custom PCF Channel Indicators.

New user.  I was looking for this.  This is essentially the same as your Keltner Channels, isn't it?

They differ from Keltner Channels in that the Indicator Line Formula is just the close or C while Keltner Channels use typical price instead or (H + L + C) / 3 instead of C for the Indicator Line Formula.