Keltner Channel setting

isabelds

I have always used the standard settings for Keltner Channels.

I understand that the Keltner Channels are plotted as follows:

(EMA, multiplier, ATR period) w Parameters:
EMA - Number of periods
multiplier - multiplier to multiply the ATR value by to determine channel width
ATR Period - number of periods for the ATR

But as far as I can tell this is for both upper and lower channel lines. What if I want different settings for the upper and lower lines?

How would the following be written into the scanner?


a 350-Day moving average of closing prices,
with the upper border plotted as 7 times 350-Day ATR
and the lower border as 3 times ATR.

TIA

markd

I don't think there is a built-in way to do that for either the scan engine or the charts.

If you want to display both on the same screen, you would need a chart style including the same symbol displayed again in the Price Indicator, with a Keltner overlay with the alternate parameters.

If you want to scan for both, you would need either two scans, one for each set of parameters, or a single scan with an "or" statement.

lmkwin

Just a thought:

Keltner Channel 350,7.0,350
Keltner Channel 350,3.0,350

Should give you a view on the chart. I'd suggest changing Style on the Keltner Channel 350,3.0,350 to Area and make the 7.0 a Thick (solid, dotted or dashed) line. The Top line and the bottom of the Area are your "channel". If you make them both Area then the 7.0 is going to shade below the 3.0 channel. You'd just have to disregard it for your channel desires.

Something else based on ATR is Chandelier Exits, but you'd have to play around with those and they don't add the Keltner smoothing.

isabelds

Thank you. I didn't think I would be able to display this in one indicator, wanted to be sure. Also, the ideas for viewing/displaying are great. Thanks again.