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Registered User
Joined: 11/28/2005
Posts: 38
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I am looking to insert Keltner Channels on my chart, the criteria I am looking for is:
Keltner channels based on the ATR over last 10 periods. However, I want the channels to be 2.5 ATR away from the 20 EMA. How do I do this?
In addition, I would like a PCF for the same Keltner Channels mentioned above so as I can put it into an easyscan and ask if price is greater than or less than the upper or low channel.
Thanks.
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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The use of ATR over last 10-Periods would lead me to believe the Value is calculated using only the last 10-Periods which would mean it is a 10-Period Simple Moving Average of True Range. If you mean a standard 10-Period Average True Range (using Wilder's Smoothing) or a 10-Period Exponential Moving Average of True Range instead, the formulas are provided in Sir Old Viking Trader and PCFs and can be used as the Channel Width Formula below:
Select Chart Template | Add Indicator | Price Channel.
- Visible: Checked
- Plot Formula Line: Up to you.
- Smoothing Average: 1
- Average Type: Doesn't matter (because the Smoothing Average is 1)
- Width Multiplier: 25
- Indicator Line Formula: XAVGC20
- Channel Width Formula: (AVGH10 - AVGL10) / 2 + (ABS(H - C1) + ABS(C1 - L) + ABS(H1 - C2) + ABS(C2 - L1) + ABS(H2 - C3) + ABS(C3 - L2) + ABS(H3 - C4) + ABS(C4 - L3) + ABS(H4 - C5) + ABS(C5 - L4) + ABS(H5 - C6) + ABS(C6 - L5) + ABS(H6 - C7) + ABS(C7 - L6) + ABS(H7 - C8) + ABS(C8 - L7) + ABS(H8 - C9) + ABS(C9 - L8) + ABS(H9 - C10) + ABS(C10 - L9)) / 20
A Personal Criteria Formula for the Upper Channel would be:
XAVGC20 + 2.5 * ((AVGH10 - AVGL10) / 2 + (ABS(H - C1) + ABS(C1 - L) + ABS(H1 - C2) + ABS(C2 - L1) + ABS(H2 - C3) + ABS(C3 - L2) + ABS(H3 - C4) + ABS(C4 - L3) + ABS(H4 - C5) + ABS(C5 - L4) + ABS(H5 - C6) + ABS(C6 - L5) + ABS(H6 - C7) + ABS(C7 - L6) + ABS(H7 - C8) + ABS(C8 - L7) + ABS(H8 - C9) + ABS(C9 - L8) + ABS(H9 - C10) + ABS(C10 - L9)) / 20)
While a PCF for the Lower Channel would be:
XAVGC20 - 2.5 * ((AVGH10 - AVGL10) / 2 + (ABS(H - C1) + ABS(C1 - L) + ABS(H1 - C2) + ABS(C2 - L1) + ABS(H2 - C3) + ABS(C3 - L2) + ABS(H3 - C4) + ABS(C4 - L3) + ABS(H4 - C5) + ABS(C5 - L4) + ABS(H5 - C6) + ABS(C6 - L5) + ABS(H6 - C7) + ABS(C7 - L6) + ABS(H7 - C8) + ABS(C8 - L7) + ABS(H8 - C9) + ABS(C9 - L8) + ABS(H9 - C10) + ABS(C10 - L9)) / 20)
You may wish to review the following:
Help with writing a scan
Bollinger/Keltner Cross
TTM Squeeze Indicator
Keltner Channels
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 11/28/2005
Posts: 38
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Bruce,
Thank you, does that mean then what you have provided above is based on a 10 perdiod SMA of the ATR?
The Sir Old Viking Trader and PCFs post relates to the same but for an EMA instead?
I have another request, could you please post the 14 period ATR formula, both the SMA and EMA versions as I would like to use these as a volatility indicator.
Many thanks for being the genius you are.
Much apreciated.
Kardaya
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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What I have posted is base on a 10-Period Simple Moving Average of True Range. The Sir Old Viking Trader and PCFs topic includes three versions of a 10-Period ATR including the SMA version. The Please provide a description and PCF for calculating an ATR value to be used as a stop loss value provides those same three formulas for a 14-Period ATR instead.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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