Enhanced Keltner Channel

Description - Click here to view the full size chart

In the typical version of Keltner Channels, the central line is (typically) a 20-period Exponential Moving Average. Our version gives you many more moving average options (see Key Features).
The upper and lower bands are drawn at an equal distance from the central line. The distance is defined as a specified multiplier of the ATR. All these can be modified, if so desired.
Our Keltner Channel uses three parameters:
- “Length” is the number of bars to be used in calculation of the central line.

- “Offmultiplier”is the distance to define band expansion from the center line

- “ATRLength” is the number of bars to be used in calculation of the ATR (average true range of “X” bar).
A strategy for trading the Keltner is to regard a close above the upper line as a strong bullish signal, or a close below the lower line as strong bearish sentiment, and buy or sell with the trend.

Key Features

Selectable Moving Average Type (SMA, EMA, HMA, VWMA, WMA, Triple Exponential Moving Average, Triangular Moving Average
Ability to set the length of the ATR used in the calculation which controls the sensitivity of the Channel.
Ability to color the channel
Sound alert when price leaves the channel.


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