Here's an updated version of the CBG Keltner Channel indicator.
1. Added a new option for painting bars and backgrounds.
- Option 5 will paint up bars if the midline moving average is moving up and price is above the control moving average. It will paint down bars if the opposite is true. If neither are true, it will paint a neutral color. The neutral color...
The Keltner Channel, a classic indicator of technical analysis developed by Chester Keltner in 1960.
The indicator is a bit like Bollinger Bands and Envelopes.
This variation uses the Hull Moving Average as the centre line for the channel.
Hello Fellow Traders!
Keltner Channel uses Average True Range and Bollinger Bands uses Standard Deviation.
And if you compare the two, you’ll realize Keltner Channel is “smoother” version to Bollinger Bands.
I have included a one hour backtest including slippage and 0.075% commissions to meet most exchanges standards, as you can see it...
There are quite a few band indicators out there, ATR, VWAP, Bollinger, Fib, etc. however, I could never find anything that could scale accurately during periods of high volatility. That brought me to writing this indicator.
These bands use my Volume-Weighted Anchored Trend (VWAT) for the basis and highlight the standard deviation that you might expect high...
We used Marc Chaikin’s Chaikin Volatility as somewhat of a baseline for this indicator and then built on it. Like Chaikin Volatility, our indicator draws primarily upon high-low spreads to quantify a security’s volatility. It also has similarities to Keltner Channels as it uses ATR rather than standard deviations in its calculation of the different bands....
Uses volume weighted (optional) applied to the McGinley Dynamic for the basis of either a Bollinger Band or Keltner Channel.
When volume weighting is enabled it uses a volume weighted standard deviation to calculate the bollinger width.
Keltner channel also uses the McGinley formula to calculate the ATR used to determine the width of the channel.
Both the 1x...
This multi-timeframe 21-period true range channel uses an improved calculation to accurately calculate the indicator's value with every new bar on the time frame your chart is set to. Previously the indicator only recalculated with every new update on the timeframe used in its security function. This means that this improved script plots the real, current value of...
The averages 17, 34 and 66 are very good with keltner is best
Three moving averages for trend
17, 34 and 66
>66 buy only
<66 sell only
else against trend
use with 1 larger time and 1 smaller
>keltner buy strong
volume(1) and volume(2) and volume(3)