Kelter Channels

giorgos1982

I get a syntax error on a simple clause:

[Daily FORCE(2) x Kelt Chan(26,3,26)]

.... so trying to find crossings between the Force Index and the Low Kelter Channel but here is what I get:
<<<< Could not parse "KELT CHAN" located in the clause "DAILY FORCE(2) X KELT CHAN(26,3,26)" >>>>



Any help would be appreciated!
George

lmkwin

Keltner channels have an Upper and Lower qualifier. Put Upper or Lower in front of Kelt.

If you select options from the dropdowns, it fills in the appropriate wording. The Keltner channels are in the Technical Indicators dropdown.

giorgos1982

Imkwin, I appreciate your help on qualifiers. Corrected it, no syntax error but the results(94 hits) I am getting make no sense as I do NOT see a crossing between the Force Index & Lower Kelt Chan.

Here is the latest scan: << Starting 0 trading days before the Last Market Close (13 Jun) >>

[type = stock] and
[country = us] and
[group is not ETF] and
[Close > 20] and
[Volume > 1000000] and
[Today's FORCE(2) x Lower Kelt Chan(26,3,26)]

As an example, one of the hits is AAL, and when looking at its chart with the KELT CHAN added to the FI(2) indicator there has been no crossing between them (last one was in Dec 7, 2018)

markd

The scan doesn't know you want the Keltner Channel of Force. The default would be price and you haven't specified something different. So you have to figure out how to make the KC apply to Force(2). Maybe add it to the end of Kelt Chan( ).

Having trouble logging in to SC, so can't test it out.

markd

OK, tried it out adding Force(2) to lower Kelt chan.

It generates an error in the advanced editor but passes syntax and runs, but gets zero results.

So, it appears that, even though the chart engine will apply Keltner channels to indicators, in the scan engine, you can't scan for Keltner values on anything but price - and price is probably limited to close, not high or low or open.

giorgos1982

markd, thanks for responding and helping.
I fully understand now my mistake after you said: "The scan doesn't know you want the Keltner Channel of Force." , since Overlays are understood by the scan engine to be applied to Price.
But, overlaying the KC on the price chart I still do not see any crossing.
Again, lets take AAL from earlier mentioned. Here is tha Price Chart with the KC

markd

For the chart above, what's the scan code you want to see a hit for, and what date(s)?

P.S. the chart has several instances of closes below the lower Keltner Channel, e.g. last week of May, middle week of October 2018.

Also, I wouldn't make the blanket statement that "overlays are understood by the scan engine to be applied to price". It's true of Kelt Channels, but you would have to look at each indicator to see if it can be applied to things other than price (e.g. pretty sure you scan for ema of Force(x)).

giorgos1982

AAL (chart sent earlier) is the 1st hit out of 93.
So you can run the following and you will see AAL. But when you look at the price with the KC overlayed (see chart earlier) there is NO crossing !!!!! As far as Close, Low, High.... well, the whole bar never touched the KC. Am I interpretting things wrong here?

So here is again the code:
<< Starting 1 trading days before the Last Market Close (13 Jun) >>
[type = stock] and
[country = us] and
[group is not ETF] and
[Close > 20] and
[Volume > 1000000] and
[Today's FORCE(2) x Lower Kelt Chan(26,3,26)]

On your last sentence ("Also, I wouldn't make....), I am confused, as I am not sure what to think about applying KC on Force Index - I thought you said "you can't scan for Keltner values on anything but price".

markd

In your scan, you ask for Force to cross the lower KC. You don't ask for the close (price) to cross the lower KC. So for AAL maybe Force(2) did cross the lower KC of price. You just can't see it on the chart.

You can't tell from this chart whether Force(2) crossed the lower KC because Force(2) isn't on the chart. But, I don't think you could tell that from the chart even if Force(2) were on it because Force and price have to be plotted separately. (You could figure it out by inspecting the change in Force values from one bar to the next, and comparing those values to the Lower KC values, but you wouldn't "see" it).

But if you think about, Force values come from volume. KC values come from price. So in your scan you are asking for volume, which could be in the millions, to cross the lower KC of price, which is unlikely to be greater than say 200 or 300 in most cases. It can happen, because Force can be positive or negative. But what does it mean when it happens? It's comparing apples and oranges, isn't it?

What I understand you want to do is catch Force(2) going below the lower KC of Force(2). But it appears the scan engine won't let you do that.

lmkwin

I don't know how old this documentation is but it appears they don't display examples using ALL of the indicator overlays.

https://stockcharts.com/docs/doku.php?id=scans:advanced_scan_syntax:overlay_scans

markd

@lmkwin,

great link.

the key line on that page is that any function with "exp" as a parameter on the syntax reference page (link on the page you linked to) will take an indicator or other legal value. Keltner Channels isn't one of them.