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PCF Help with Keltner Channels Rate this Topic:
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cheddarjim
Posted : Wednesday, April 6, 2011 5:43:39 PM
Registered User
Joined: 1/13/2005
Posts: 16
Need help with the PCF for Keltner Channels with the following parameters: 20 ema, 2.0 ATR multiplier, and 10 period ATRThanks.
Bruce_L
Posted : Thursday, April 7, 2011 8:55:03 AM


Worden Trainer

Joined: 10/7/2004
Posts: 65,138
There is no universal agreement on how Keltner Channels are calculated. In the TC2000.com version 11 beta, the Centerline and Average True Range use exactly the same Moving Average Period and Type in their calculations. The Centerline is a Moving Average of the following:

(C + H + L) / 3

So when set to a 20-Period Exponential Moving Average, the Centerline would be:

(XAVGC20 + XAVGH20 + XAVGL20) / 3

Many times a Keltner Channel will be calculated using a much simpler Centerline and is a Moving Average of:

C

In such cases, the 20-Period Exponential Moving Average would result in a formula for the Centerline of:

XAVGC20

In the TC2000.com version 11 beta, the distance of the Channels both above and below the Centerline is a Moving Average of the same Period and Type of the Centerline, but of True Range:

(H - L + ABS(H - C1) + ABS(C1 - L)) / 2

So in the case of a 20-Period Exponential Keltner Channel, the formula for this distance would be:

XAVGH20 - XAVGL20 + .0953245136006837 * ((H < C1) * (H - C1) + (C1 < L) * (C1 - L) + 19 / 21 * ((H1 < C2) * (H1 - C2) + (C2 < L1) * (C2 - L1) + 19 / 21 * ((H2 < C3) * (H2 - C3) + (C3 < L2) * (C3 - L2) + 19 / 21 * ((H3 < C4) * (H3 - C4) + (C4 < L3) * (C4 - L3) + 19 / 21 * ((H4 < C5) * (H4 - C5) + (C5 < L4) * (C5 - L4) + 19 / 21 * ((H5 < C6) * (H5 - C6) + (C6 < L5) * (C6 - L5) + 19 / 21 * ((H6 < C7) * (H6 - C7) + (C7 < L6) * (C7 - L6) + 19 / 21 * ((H7 < C8) * (H7 - C8) + (C8 < L7) * (C8 - L7) + 19 / 21 * ((H8 < C9) * (H8 - C9) + (C9 < L8) * (C9 - L8) + 19 / 21 * ((H9 < C10) * (H9 - C10) + (C10 < L9) * (C10 - L9) + 19 / 21 * ((H10 < C11) * (H10 - C11) + (C11 < L10) * (C11 - L10) + 19 / 21 * ((H11 < C12) * (H11 - C12) + (C12 < L11) * (C12 - L11) + 19 / 21 * ((H12 < C13) * (H12 - C13) + (C13 < L12) * (C13 - L12) + 19 / 21 * ((H13 < C14) * (H13 - C14) + (C14 < L13) * (C14 - L13) + 19 / 21 * ((H14 < C15) * (H14 - C15) + (C15 < L14) * (C15 - L14) + 19 / 21 * ((H15 < C16) * (H15 - C16) + (C16 < L15) * (C16 - L15) + 19 / 21 * ((H16 < C17) * (H16 - C17) + (C17 < L16) * (C17 - L16) + 19 / 21 * ((H17 < C18) * (H17 - C18) + (C18 < L17) * (C18 - L17) + 19 / 21 * ((H18 < C19) * (H18 - C19) + (C19 < L18) * (C19 - L18) + 19 / 21 * ((H19 < C20) * (H19 - C20) + (C20 < L19) * (C20 - L19) + 19 / 21 * ((H20 < C21) * (H20 - C21) + (C21 < L20) * (C21 - L20) + 19 / 21 * ((H21 < C22) * (H21 - C22) + (C22 < L21) * (C22 - L21) + 19 / 21 * ((H22 < C23) * (H22 - C23) + (C23 < L22) * (C23 - L22) + 19 / 21 * ((H23 < C24) * (H23 - C24) + (C24 < L23) * (C24 - L23) + 19 / 21 * ((H24 < C25) * (H24 - C25) + (C25 < L24) * (C25 - L24) + 19 / 21 * ((H25 < C26) * (H25 - C26) + (C26 < L25) * (C26 - L25) + 19 / 21 * ((H26 < C27) * (H26 - C27) + (C27 < L26) * (C27 - L26) + 19 / 21 * ((H27 < C28) * (H27 - C28) + (C28 < L27) * (C28 - L27) + 19 / 21 * ((H28 < C29) * (H28 - C29) + (C29 < L28) * (C29 - L28) + 19 / 21 * ((H29 < C30) * (H29 - C30) + (C30 < L29) * (C30 - L29) + 19 / 21 * ((H30 < C31) * (H30 - C31) + (C31 < L30) * (C31 - L30) + 19 / 21 * ((H31 < C32) * (H31 - C32) + (C32 < L31) * (C32 - L31) + 19 / 21 * ((H32 < C33) * (H32 - C33) + (C33 < L32) * (C33 - L32) + 19 / 21 * ((H33 < C34) * (H33 - C34) + (C34 < L33) * (C34 - L33) + 19 / 21 * ((H34 < C35) * (H34 - C35) + (C35 < L34) * (C35 - L34) + 19 / 21 * ((H35 < C36) * (H35 - C36) + (C36 < L35) * (C36 - L35) + 19 / 21 * ((H36 < C37) * (H36 - C37) + (C37 < L36) * (C37 - L36) + 19 / 21 * ((H37 < C38) * (H37 - C38) + (C38 < L37) * (C38 - L37) + 19 / 21 * ((H38 < C39) * (H38 - C39) + (C39 < L38) * (C39 - L38) + 19 / 21 * ((H39 < C40) * (H39 - C40) + (C40 < L39) * (C40 - L39) + 19 / 21 * ((H40 < C41) * (H40 - C41) + (C41 < L40) * (C41 - L40) + 19 / 21 * ((H41 < C42) * (H41 - C42) + (C42 < L41) * (C42 - L41) + 19 / 21 * ((H42 < C43) * (H42 - C43) + (C43 < L42) * (C43 - L42) + 19 / 21 * ((H43 < C44) * (H43 - C44) + (C44 < L43) * (C44 - L43) + 19 / 21 * ((H44 < C45) * (H44 - C45) + (C45 < L44) * (C45 - L44) + 19 / 21 * ((H45 < C46) * (H45 - C46) + (C46 < L45) * (C46 - L45) + 19 / 21 * ((H46 < C47) * (H46 - C47) + (C47 < L46) * (C47 - L46) + 19 / 21 * ((H47 < C48) * (H47 - C48) + (C48 < L47) * (C48 - L47) + 19 / 21 * ((H48 < C49) * (H48 - C49) + (C49 < L48) * (C49 - L48) + 19 / 21 * ((H49 < C50) * (H49 - C50) + (C50 < L49) * (C50 - L49) + 19 / 21 * ((H50 < C51) * (H50 - C51) + (C51 < L50) * (C51 - L50) + 19 / 21 * ((H51 < C52) * (H51 - C52) + (C52 < L51) * (C52 - L51) + 19 / 21 * ((H52 < C53) * (H52 - C53) + (C53 < L52) * (C53 - L52) + 19 / 21 * ((H53 < C54) * (H53 - C54) + (C54 < L53) * (C54 - L53) + 19 / 21 * ((H54 < C55) * (H54 - C55) + (C55 < L54) * (C55 - L54) + 19 / 21 * ((H55 < C56) * (H55 - C56) + (C56 < L55) * (C56 - L55) + 19 / 21 * ((H56 < C57) * (H56 - C57) + (C57 < L56) * (C57 - L56) + 19 / 21 * ((H57 < C58) * (H57 - C58) + (C58 < L57) * (C58 - L57) + 19 / 21 * ((H58 < C59) * (H58 - C59) + (C59 < L58) * (C59 - L58) + 19 / 21 * ((H59 < C60) * (H59 - C60) + (C60 < L59) * (C60 - L59) + 19 / 21 * ((H60 < C61) * (H60 - C61) + (C61 < L60) * (C61 - L60) + 19 / 21 * ((H61 < C62) * (H61 - C62) + (C62 < L61) * (C62 - L61) + 19 / 21 * ((H62 < C63) * (H62 - C63) + (C63 < L62) * (C63 - L62) + 19 / 21 * ((H63 < C64) * (H63 - C64) + (C64 < L63) * (C64 - L63) + 19 / 21 * ((H64 < C65) * (H64 - C65) + (C65 < L64) * (C65 - L64) + 19 / 21 * ((H65 < C66) * (H65 - C66) + (C66 < L65) * (C66 - L65) + 19 / 21 * ((H66 < C67) * (H66 - C67) + (C67 < L66) * (C67 - L66) + 19 / 21 * ((H67 < C68) * (H67 - C68) + (C68 < L67) * (C68 - L67) + 19 / 21 * ((H68 < C69) * (H68 - C69) + (C69 < L68) * (C69 - L68) + 19 / 21 * ((H69 < C70) * (H69 - C70) + (C70 < L69) * (C70 - L69)))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))

Resulting in the following formula for the Upper Keltner Channel:

(XAVGC20 + XAVGH20 + XAVGL20) / 3 + 2 * (XAVGH20 - XAVGL20 + .0953245136006837 * ((H < C1) * (H - C1) + (C1 < L) * (C1 - L) + 19 / 21 * ((H1 < C2) * (H1 - C2) + (C2 < L1) * (C2 - L1) + 19 / 21 * ((H2 < C3) * (H2 - C3) + (C3 < L2) * (C3 - L2) + 19 / 21 * ((H3 < C4) * (H3 - C4) + (C4 < L3) * (C4 - L3) + 19 / 21 * ((H4 < C5) * (H4 - C5) + (C5 < L4) * (C5 - L4) + 19 / 21 * ((H5 < C6) * (H5 - C6) + (C6 < L5) * (C6 - L5) + 19 / 21 * ((H6 < C7) * (H6 - C7) + (C7 < L6) * (C7 - L6) + 19 / 21 * ((H7 < C8) * (H7 - C8) + (C8 < L7) * (C8 - L7) + 19 / 21 * ((H8 < C9) * (H8 - C9) + (C9 < L8) * (C9 - L8) + 19 / 21 * ((H9 < C10) * (H9 - C10) + (C10 < L9) * (C10 - L9) + 19 / 21 * ((H10 < C11) * (H10 - C11) + (C11 < L10) * (C11 - L10) + 19 / 21 * ((H11 < C12) * (H11 - C12) + (C12 < L11) * (C12 - L11) + 19 / 21 * ((H12 < C13) * (H12 - C13) + (C13 < L12) * (C13 - L12) + 19 / 21 * ((H13 < C14) * (H13 - C14) + (C14 < L13) * (C14 - L13) + 19 / 21 * ((H14 < C15) * (H14 - C15) + (C15 < L14) * (C15 - L14) + 19 / 21 * ((H15 < C16) * (H15 - C16) + (C16 < L15) * (C16 - L15) + 19 / 21 * ((H16 < C17) * (H16 - C17) + (C17 < L16) * (C17 - L16) + 19 / 21 * ((H17 < C18) * (H17 - C18) + (C18 < L17) * (C18 - L17) + 19 / 21 * ((H18 < C19) * (H18 - C19) + (C19 < L18) * (C19 - L18) + 19 / 21 * ((H19 < C20) * (H19 - C20) + (C20 < L19) * (C20 - L19) + 19 / 21 * ((H20 < C21) * (H20 - C21) + (C21 < L20) * (C21 - L20) + 19 / 21 * ((H21 < C22) * (H21 - C22) + (C22 < L21) * (C22 - L21) + 19 / 21 * ((H22 < C23) * (H22 - C23) + (C23 < L22) * (C23 - L22) + 19 / 21 * ((H23 < C24) * (H23 - C24) + (C24 < L23) * (C24 - L23) + 19 / 21 * ((H24 < C25) * (H24 - C25) + (C25 < L24) * (C25 - L24) + 19 / 21 * ((H25 < C26) * (H25 - C26) + (C26 < L25) * (C26 - L25) + 19 / 21 * ((H26 < C27) * (H26 - C27) + (C27 < L26) * (C27 - L26) + 19 / 21 * ((H27 < C28) * (H27 - C28) + (C28 < L27) * (C28 - L27) + 19 / 21 * ((H28 < C29) * (H28 - C29) + (C29 < L28) * (C29 - L28) + 19 / 21 * ((H29 < C30) * (H29 - C30) + (C30 < L29) * (C30 - L29) + 19 / 21 * ((H30 < C31) * (H30 - C31) + (C31 < L30) * (C31 - L30) + 19 / 21 * ((H31 < C32) * (H31 - C32) + (C32 < L31) * (C32 - L31) + 19 / 21 * ((H32 < C33) * (H32 - C33) + (C33 < L32) * (C33 - L32) + 19 / 21 * ((H33 < C34) * (H33 - C34) + (C34 < L33) * (C34 - L33) + 19 / 21 * ((H34 < C35) * (H34 - C35) + (C35 < L34) * (C35 - L34) + 19 / 21 * ((H35 < C36) * (H35 - C36) + (C36 < L35) * (C36 - L35) + 19 / 21 * ((H36 < C37) * (H36 - C37) + (C37 < L36) * (C37 - L36) + 19 / 21 * ((H37 < C38) * (H37 - C38) + (C38 < L37) * (C38 - L37) + 19 / 21 * ((H38 < C39) * (H38 - C39) + (C39 < L38) * (C39 - L38) + 19 / 21 * ((H39 < C40) * (H39 - C40) + (C40 < L39) * (C40 - L39) + 19 / 21 * ((H40 < C41) * (H40 - C41) + (C41 < L40) * (C41 - L40) + 19 / 21 * ((H41 < C42) * (H41 - C42) + (C42 < L41) * (C42 - L41) + 19 / 21 * ((H42 < C43) * (H42 - C43) + (C43 < L42) * (C43 - L42) + 19 / 21 * ((H43 < C44) * (H43 - C44) + (C44 < L43) * (C44 - L43) + 19 / 21 * ((H44 < C45) * (H44 - C45) + (C45 < L44) * (C45 - L44) + 19 / 21 * ((H45 < C46) * (H45 - C46) + (C46 < L45) * (C46 - L45) + 19 / 21 * ((H46 < C47) * (H46 - C47) + (C47 < L46) * (C47 - L46) + 19 / 21 * ((H47 < C48) * (H47 - C48) + (C48 < L47) * (C48 - L47) + 19 / 21 * ((H48 < C49) * (H48 - C49) + (C49 < L48) * (C49 - L48) + 19 / 21 * ((H49 < C50) * (H49 - C50) + (C50 < L49) * (C50 - L49) + 19 / 21 * ((H50 < C51) * (H50 - C51) + (C51 < L50) * (C51 - L50) + 19 / 21 * ((H51 < C52) * (H51 - C52) + (C52 < L51) * (C52 - L51) + 19 / 21 * ((H52 < C53) * (H52 - C53) + (C53 < L52) * (C53 - L52) + 19 / 21 * ((H53 < C54) * (H53 - C54) + (C54 < L53) * (C54 - L53) + 19 / 21 * ((H54 < C55) * (H54 - C55) + (C55 < L54) * (C55 - L54) + 19 / 21 * ((H55 < C56) * (H55 - C56) + (C56 < L55) * (C56 - L55) + 19 / 21 * ((H56 < C57) * (H56 - C57) + (C57 < L56) * (C57 - L56) + 19 / 21 * ((H57 < C58) * (H57 - C58) + (C58 < L57) * (C58 - L57) + 19 / 21 * ((H58 < C59) * (H58 - C59) + (C59 < L58) * (C59 - L58) + 19 / 21 * ((H59 < C60) * (H59 - C60) + (C60 < L59) * (C60 - L59) + 19 / 21 * ((H60 < C61) * (H60 - C61) + (C61 < L60) * (C61 - L60) + 19 / 21 * ((H61 < C62) * (H61 - C62) + (C62 < L61) * (C62 - L61) + 19 / 21 * ((H62 < C63) * (H62 - C63) + (C63 < L62) * (C63 - L62) + 19 / 21 * ((H63 < C64) * (H63 - C64) + (C64 < L63) * (C64 - L63) + 19 / 21 * ((H64 < C65) * (H64 - C65) + (C65 < L64) * (C65 - L64) + 19 / 21 * ((H65 < C66) * (H65 - C66) + (C66 < L65) * (C66 - L65) + 19 / 21 * ((H66 < C67) * (H66 - C67) + (C67 < L66) * (C67 - L66) + 19 / 21 * ((H67 < C68) * (H67 - C68) + (C68 < L67) * (C68 - L67) + 19 / 21 * ((H68 < C69) * (H68 - C69) + (C69 < L68) * (C69 - L68) + 19 / 21 * ((H69 < C70) * (H69 - C70) + (C70 < L69) * (C70 - L69))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))

And the following formula for the Lower Keltner Channel:

(XAVGC20 + XAVGH20 + XAVGL20) / 3 - 2 * (XAVGH20 - XAVGL20 + .0953245136006837 * ((H < C1) * (H - C1) + (C1 < L) * (C1 - L) + 19 / 21 * ((H1 < C2) * (H1 - C2) + (C2 < L1) * (C2 - L1) + 19 / 21 * ((H2 < C3) * (H2 - C3) + (C3 < L2) * (C3 - L2) + 19 / 21 * ((H3 < C4) * (H3 - C4) + (C4 < L3) * (C4 - L3) + 19 / 21 * ((H4 < C5) * (H4 - C5) + (C5 < L4) * (C5 - L4) + 19 / 21 * ((H5 < C6) * (H5 - C6) + (C6 < L5) * (C6 - L5) + 19 / 21 * ((H6 < C7) * (H6 - C7) + (C7 < L6) * (C7 - L6) + 19 / 21 * ((H7 < C8) * (H7 - C8) + (C8 < L7) * (C8 - L7) + 19 / 21 * ((H8 < C9) * (H8 - C9) + (C9 < L8) * (C9 - L8) + 19 / 21 * ((H9 < C10) * (H9 - C10) + (C10 < L9) * (C10 - L9) + 19 / 21 * ((H10 < C11) * (H10 - C11) + (C11 < L10) * (C11 - L10) + 19 / 21 * ((H11 < C12) * (H11 - C12) + (C12 < L11) * (C12 - L11) + 19 / 21 * ((H12 < C13) * (H12 - C13) + (C13 < L12) * (C13 - L12) + 19 / 21 * ((H13 < C14) * (H13 - C14) + (C14 < L13) * (C14 - L13) + 19 / 21 * ((H14 < C15) * (H14 - C15) + (C15 < L14) * (C15 - L14) + 19 / 21 * ((H15 < C16) * (H15 - C16) + (C16 < L15) * (C16 - L15) + 19 / 21 * ((H16 < C17) * (H16 - C17) + (C17 < L16) * (C17 - L16) + 19 / 21 * ((H17 < C18) * (H17 - C18) + (C18 < L17) * (C18 - L17) + 19 / 21 * ((H18 < C19) * (H18 - C19) + (C19 < L18) * (C19 - L18) + 19 / 21 * ((H19 < C20) * (H19 - C20) + (C20 < L19) * (C20 - L19) + 19 / 21 * ((H20 < C21) * (H20 - C21) + (C21 < L20) * (C21 - L20) + 19 / 21 * ((H21 < C22) * (H21 - C22) + (C22 < L21) * (C22 - L21) + 19 / 21 * ((H22 < C23) * (H22 - C23) + (C23 < L22) * (C23 - L22) + 19 / 21 * ((H23 < C24) * (H23 - C24) + (C24 < L23) * (C24 - L23) + 19 / 21 * ((H24 < C25) * (H24 - C25) + (C25 < L24) * (C25 - L24) + 19 / 21 * ((H25 < C26) * (H25 - C26) + (C26 < L25) * (C26 - L25) + 19 / 21 * ((H26 < C27) * (H26 - C27) + (C27 < L26) * (C27 - L26) + 19 / 21 * ((H27 < C28) * (H27 - C28) + (C28 < L27) * (C28 - L27) + 19 / 21 * ((H28 < C29) * (H28 - C29) + (C29 < L28) * (C29 - L28) + 19 / 21 * ((H29 < C30) * (H29 - C30) + (C30 < L29) * (C30 - L29) + 19 / 21 * ((H30 < C31) * (H30 - C31) + (C31 < L30) * (C31 - L30) + 19 / 21 * ((H31 < C32) * (H31 - C32) + (C32 < L31) * (C32 - L31) + 19 / 21 * ((H32 < C33) * (H32 - C33) + (C33 < L32) * (C33 - L32) + 19 / 21 * ((H33 < C34) * (H33 - C34) + (C34 < L33) * (C34 - L33) + 19 / 21 * ((H34 < C35) * (H34 - C35) + (C35 < L34) * (C35 - L34) + 19 / 21 * ((H35 < C36) * (H35 - C36) + (C36 < L35) * (C36 - L35) + 19 / 21 * ((H36 < C37) * (H36 - C37) + (C37 < L36) * (C37 - L36) + 19 / 21 * ((H37 < C38) * (H37 - C38) + (C38 < L37) * (C38 - L37) + 19 / 21 * ((H38 < C39) * (H38 - C39) + (C39 < L38) * (C39 - L38) + 19 / 21 * ((H39 < C40) * (H39 - C40) + (C40 < L39) * (C40 - L39) + 19 / 21 * ((H40 < C41) * (H40 - C41) + (C41 < L40) * (C41 - L40) + 19 / 21 * ((H41 < C42) * (H41 - C42) + (C42 < L41) * (C42 - L41) + 19 / 21 * ((H42 < C43) * (H42 - C43) + (C43 < L42) * (C43 - L42) + 19 / 21 * ((H43 < C44) * (H43 - C44) + (C44 < L43) * (C44 - L43) + 19 / 21 * ((H44 < C45) * (H44 - C45) + (C45 < L44) * (C45 - L44) + 19 / 21 * ((H45 < C46) * (H45 - C46) + (C46 < L45) * (C46 - L45) + 19 / 21 * ((H46 < C47) * (H46 - C47) + (C47 < L46) * (C47 - L46) + 19 / 21 * ((H47 < C48) * (H47 - C48) + (C48 < L47) * (C48 - L47) + 19 / 21 * ((H48 < C49) * (H48 - C49) + (C49 < L48) * (C49 - L48) + 19 / 21 * ((H49 < C50) * (H49 - C50) + (C50 < L49) * (C50 - L49) + 19 / 21 * ((H50 < C51) * (H50 - C51) + (C51 < L50) * (C51 - L50) + 19 / 21 * ((H51 < C52) * (H51 - C52) + (C52 < L51) * (C52 - L51) + 19 / 21 * ((H52 < C53) * (H52 - C53) + (C53 < L52) * (C53 - L52) + 19 / 21 * ((H53 < C54) * (H53 - C54) + (C54 < L53) * (C54 - L53) + 19 / 21 * ((H54 < C55) * (H54 - C55) + (C55 < L54) * (C55 - L54) + 19 / 21 * ((H55 < C56) * (H55 - C56) + (C56 < L55) * (C56 - L55) + 19 / 21 * ((H56 < C57) * (H56 - C57) + (C57 < L56) * (C57 - L56) + 19 / 21 * ((H57 < C58) * (H57 - C58) + (C58 < L57) * (C58 - L57) + 19 / 21 * ((H58 < C59) * (H58 - C59) + (C59 < L58) * (C59 - L58) + 19 / 21 * ((H59 < C60) * (H59 - C60) + (C60 < L59) * (C60 - L59) + 19 / 21 * ((H60 < C61) * (H60 - C61) + (C61 < L60) * (C61 - L60) + 19 / 21 * ((H61 < C62) * (H61 - C62) + (C62 < L61) * (C62 - L61) + 19 / 21 * ((H62 < C63) * (H62 - C63) + (C63 < L62) * (C63 - L62) + 19 / 21 * ((H63 < C64) * (H63 - C64) + (C64 < L63) * (C64 - L63) + 19 / 21 * ((H64 < C65) * (H64 - C65) + (C65 < L64) * (C65 - L64) + 19 / 21 * ((H65 < C66) * (H65 - C66) + (C66 < L65) * (C66 - L65) + 19 / 21 * ((H66 < C67) * (H66 - C67) + (C67 < L66) * (C67 - L66) + 19 / 21 * ((H67 < C68) * (H67 - C68) + (C68 < L67) * (C68 - L67) + 19 / 21 * ((H68 < C69) * (H68 - C69) + (C69 < L68) * (C69 - L68) + 19 / 21 * ((H69 < C70) * (H69 - C70) + (C70 < L69) * (C70 - L69))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))

Another common method used in Keltner Channel construction is to base the distance above and below the Centerline on Range instead of True Range. In such cases, the Moving Average is of the following instead:

H - L

A 20-Period Exponential Moving Average of this would be:

XAVGH20 - XAVGL20

Now you have specified a 10-Period ATR for your channels. The Sir Old Viking Trader and PCFs has different formulas for a 10-Period Average True Range depending on if the Moving Average is Simple, Wilder's Smoothed or Exponential. You will need to multiply whichever of these formulas you want to use by 2 and add the result from your chosen formula for the Centerline to get the Top Channel or subtract the result from your chosen formula for the Centerline to get Bottom Channel.

PCF Formula Descriptions
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-Bruce
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