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garykong  
#1 Posted : Tuesday, August 2, 2005 11:41:17 AM(UTC)
garykong

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Hi there, Can anyone give me the Keltner Channel formula for 20, 20, 1.5? I don't know why my MS doesn't has the formula... Gary
wabbit  
#2 Posted : Tuesday, August 2, 2005 12:30:13 PM(UTC)
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Try this.... {Keltner Bands} {edited - Thanks IR} prd1:= Input("EMA Periods",1,100,20); prd2:= Input("ATR Periods",1,100,20); multiplier:= Input("ATR Multiplier",1,10,1.5); x:=Input("Data: 1-O 2-H 3-L 4-C 5-MP 6-Typ",1,6,4); x:=If(x=1,O,If(x=2,H,If(x=3,L,If(x=4,C,If(x=5,MP(),Typical()))))); AV:= Mov(x,prd1,e); UL:= AV+ATR(prd2)*multiplier; LL:= AV-ATR(prd2)*multiplier; AV;UL;LL; See also : http://www.chartfilter.com/reports/c19.htm wabbit :D
investorretired  
#3 Posted : Tuesday, August 2, 2005 2:43:54 PM(UTC)
investorretired

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I have a question on your Indicator formula. Are the UL and LL formulas correct? I tried it and I got an error message. Maybe it's me.
wabbit  
#4 Posted : Tuesday, August 2, 2005 2:49:32 PM(UTC)
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...fixed
Jose  
#5 Posted : Wednesday, August 3, 2005 7:43:09 AM(UTC)
Jose

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Also take a look at this MS indicator code if you like: [code:1:aa8466de0c] ========================= Keltner & Bollinger Bands ========================= ---8<--------------------------- { ©Copyright 2004~2005 Jose Silva } { For personal use only } { http://www.metastocktools.com } { User inputs } pds:=Input("Keltner/Bollinger Bands periods", 1,252,20); spread:=Input("Keltner Bands % spread", 0,1000,100)/100; dev:=Input("Bollinger Bands deviation", .001,10,1.5); plot:=Input("[1]Keltner, [2]Bollinger, [3]Keltner+Bollinger",1,3,1); { Keltner bands } KBmid:=Mov(Typ(),pds,S); KBtop:=KBmid+Mov(H-L,pds,S); KBtopDiff:=(KBtop-KBmid)*spread; KBtop:=KBmid+KBtopDiff; KBbot:=KBmid-Mov(H-L,pds,S); KBbotDiff:=(KBbot-KBmid)*spread; KBbot:=KBmid+KBbotDiff; KBwidth:=KBtop-KBbot; KBwidthAvg:=Cum(KBwidth)/Cum(KBwidth>-1); { Bollinger bands } BBtop:=BBandTop(C,pds,S,dev); BBmid:=Mov(C,pds,S); BBbot:=BBandBot(C,pds,S,dev); { Plot on price chart } If(plot=1,KBtop,BBtop); If(plot=1,KBmid,If(plot=2,BBmid,KBtop)); If(plot=1,KBbot,BBbot); If(plot=1,KBbot,If(plot=2,BBbot,KBbot)) ---8<--------------------------- [/code:1:aa8466de0c] jose '-) http://www.metastocktools.com .
garykong  
#6 Posted : Wednesday, August 3, 2005 8:40:11 AM(UTC)
garykong

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Hi Jose and Wabbit, I notice that there are two difference in your formulae:- EXPONENTIAL VS. SIMPLE: -- Wabbit: AV:= Mov(x,prd1,e); Jose:- KBmid:=Mov(Typ(),pds,S); AND MOV(H-C) VS ATR():---- Jose: KBtop:=KBmid+Mov(H-L,pds,S); Wabbit: UL:= AV+ATR(prd2)*multiplier; Are the two formulae correct knowing that there are only a minor difference? Besides, with reference to http://www.chartfilter.com/reports/c19.htm it seems to be that it is exactly as Wabbit's version. Is this the "original" version of Keltner Bands?? Regards, Gary :?:
Jose  
#7 Posted : Wednesday, August 3, 2005 9:32:49 AM(UTC)
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From http://www.trading-naked...20Manual_C25_213-224.pdf :
Quote:
The (Keltner) bands are created by employing a moving average of each bar’s volatility from high to low, and then multiplying that moving average by a constant number to adjust the band distances from the moving average line.
I'm no expert on Keltner bands, but it is my understanding that they are derived as per the explanation above. In any case, plot both variations on a chart, and use the one that looks/works best for you. jose '-) http://metastocktools.com/#metastock .
wabbit  
#8 Posted : Wednesday, August 3, 2005 10:56:57 AM(UTC)
wabbit

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One of the problems with some of these 'named' systems/indicators is that over time they get 'customised' by users and re-promulgated, often with the same name. Eventually, it becomes very difficult to find the original indicator. This could be one of these cases. Take my interpretation, and Jose's interpretation, add them together, customise the product to your liking, test it, manipulate it some more, then name it the JoKongBit Indicator (Jose, GaryKong & Wabbit)!! It's what these indicator 'authors' do anyway! wabbit :D P.S. Remember to post your version of the code
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