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Scanning Keltner Channel around Force Index

Would like to scan extremes of Keltner Channel (20,3.0,20) ie above/below channel using the Force Index (13) instead of price.
See attached chart of AEP with the bottom of the chart indicator of Keltner Channel around the Force Index. Notice at several locations where Force Index exceeded the top Keltner channel in March 2017 and below the Keltner Channel in November 2016, this is what I would like to scan for. Thanks in advance.

Answers

  • markdmarkd ✭✭✭
    edited April 29
    @RWzz

    I don't see the attached chart, but I'm assuming you have the Force indicator above or below the chart (not overlaid on price) with Keltner channels overlaid on Force, not price.

    This is a little tricky for scanning because it is not documented that you can add a parameter to the Keltner indicator parameter list and it will pass syntax, but you can.

    Keltner is meant to be used with price - two of the parameters in Keltner are for Average True Range. Force doesn't have a range in the usual sense, so I'm guessing when you apply Keltner channels to Force, Keltner is really using the difference in closing Force values as the range. I haven't thought it through but I guess that's OK.

    So here's the scan for Force cutting above the Upper Keltner channel. All the parameters are the defaults. You can change them, but if you change the Force parameter, remember to change each instance, not just one.

    and [FORCE(13) x Upper Kelt Chan(20,2,10, Force(13))]

    And for Force crossing below the lower channel, it would be:

    and [Lower Kelt Chan(20,2,10, Force(13)) x Force(13)]
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