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 Keltner Pullback Rate this Topic:
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topmarx
 Posted : Thursday, August 3, 2017 6:44:18 PM
Registered User
Joined: 6/24/2017
Posts: 15

Hello

I am trying to create a scan for a Keltner pullback,

Bullish - price action scaling along the upper edge of the Keltner Channel, and then pullback would be to mid-line of the channel. Bear - price action scaling along the bottom of Keltner Channel, and then pullback would be to mid-line of the channel.

I was thinking touch of upper channel X bars ago, and then pullback to touch mid-line Y bars ago - this way can experiment with pullback delay, unless there is a better way?

Thanks Marc

Bruce_L
 Posted : Friday, August 4, 2017 10:01:27 AM

Worden Trainer

Joined: 10/7/2004
Posts: 65,138

The Keltner Channels help topic has templates for constructing formulas. I am going to rewrite them slightly in that I am going to use p for the period so I can use `x` and `y `for the described bars ago parameters.

Top:

`tAVG((Hx + Lx + Cx) / 3 + w * ATR1.x, p)`

Center:

`tAVG(Hy + Ly + Cy, p) / 3`

So for the top if want the close to be at or above the upper exponential Keltner Channel 20, 1.50 `x` bars ago and at or below the center channel `y` bars ago, we get:

`Cx >= XAVG((Hx + Lx + Cx) / 3 + 1.5 * ATR1.x, 20) AND Cy <= XAVG(Hy + Ly + Cy, 20) / 3`

So if `x` = 10 and `y` = 4:

`C10 >= XAVG((H10 + L10 + C10) / 3 + 1.5 * ATR1.10, 20) AND C4 <= XAVG(H4 + L4 + C4, 20) / 3`

-Bruce
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