Bruce

can you show me a PCF for when Bollinger bands break inside of keltner channels?

Thanks

It very much depends on what you mean by Bollinger Bands breaking inside of Keltner Channels.

Note for example that Bollinger Bands and Keltner Channels do not have the same centerline. This means there are three possibilities for the Bollinger Bands being inside the Keltner Channels. The Upper Bollinger Band can be inside with the Lower Bollinger Band outside, the Upper Bollinger Band can be outside with the Lower Bollinger Band inside or both Bollinger Bands can be inside the Keltner Channels.

Are you interested in identify when both Bollinger Bands are inside the Keltner Channel or just one of the Bollinger Bands?

Is having a condition which just identifies that the Bollinger Bands are inside the Keltner Channels enough, or do you need to actually identify the bar where such crossovers occur? Note that if you are interested in crossovers, the Upper Bollinger Band and Lower Bollinger Band can crossover on different bars.

The settings of the Bollinger Bands and Keltner Channels can also make a difference.

These types of questions have led to the TTM Squeeze indicator entirely ignoring the fact that the centerlines are different. It just compares the width of the bands. A Condition Formula which returns true when there is an active TTM Squeeze can be written as:

SQR(ABS(C ^ 2 + C1 ^ 2 + C2 ^ 2 + C3 ^ 2 + C4 ^ 2 + C5 ^ 2 + C6 ^ 2 + C7 ^ 2 + C8 ^ 2 + C9 ^ 2 + C10 ^ 2 + C11 ^ 2 + C12 ^ 2 + C13 ^ 2 + C14 ^ 2 + C15 ^ 2 + C16 ^ 2 + C17 ^ 2 + C18 ^ 2 + C19 ^ 2 - 20 * AVGC20 ^ 2) / 20) * 4 / 3 / ((AVGH20 - AVGL20) / 2 + (ABS(H - C1) + ABS(L - C1) + ABS(H1 - C2) + ABS(L1 - C2) + ABS(H2 - C3) + ABS(L2 - C3) + ABS(H3 - C4) + ABS(L3 - C4) + ABS(H4 - C5) + ABS(L4 - C5) + ABS(H5 - C6) + ABS(L5 - C6) + ABS(H6 - C7) + ABS(L6 - C7) + ABS(H7 - C8) + ABS(L7 - C8) + ABS(H8 - C9) + ABS(L8 - C9) + ABS(H9 - C10) + ABS(L9 - C10) + ABS(H10 - C11) + ABS(L10 - C11) + ABS(H11 - C12) + ABS(L11 - C12) + ABS(H12 - C13) + ABS(L12 - C13) + ABS(H13 - C14) + ABS(L13 - C14) + ABS(H14 - C15) + ABS(L14 - C15) + ABS(H15 - C16) + ABS(L15 - C16) + ABS(H16 - C17) + ABS(L16 - C17) + ABS(H17 - C18) + ABS(L17 - C18) + ABS(H18 - C19) + ABS(L18 - C19) + ABS(H19 - C20) + ABS(L19 - C20)) / 40 + .000001) < 1

TTM squeeze revisited

The best way to do this is not with a formula, but with an EasyScan comprised of conditions created by clicking on the chart in TC2000 version 12.4. These types of conditions are almost always more efficient than a Condition Formula attempting to do the same thing with the added bonus that they are easier to create.

Start by adding both the Bollinger Bands and Keltner Channels to the chart and adjust the settings as desired.

Adding and Moving Indicators

Click on the Bollinger Bands and select Create Scan Condition. Expand the Bollinger Bands vs Keltner Channels section of the Condition drop-down and choose Chan Top - Below Keltner Channels - Chan Top.

Create Conditions from Your Chart

At this point you will probably want to choose to Scan in New Window, but you could also give the condition a name and save it to add to an EasyScan later.

Click on the Bollinger Bands and select Create Scan Condition. Expand the Bollinger Bands vs Keltner Channels section of the Condition drop-down and choose Chan Bottom - Above Keltner Channels - Chan Bottom.

If you created a new EasyScan when creating the first condition, you will probably want to select Add to an existing WatchList or Scan at this point and then choose Add to Conditions in the EasyScan created earlier. You could also give the condition a name and save it to add to an EasyScan later however.

Either way, you eventually want to end up with an EasyScan containing both of the conditions created above as EasyScan Conditions. The list of symbols returned by the EasyScan will only include symbols in the List to Scan of the EasyScan which also meet all of the EasyScan Conditions.

Building a Scan with Multiple Conditions

my version is TC2000 version 7

I am unable to add keltner channels, or create and easy scan from bollinger bands with this version

is there some work around for TC 2000?

The best workaround for TC2000 version 7 is to ignore that the centerlines are different and use the formula given in my Monday, November 25, 2013 12:05:47 PM ET post.