Keltner channel is a technical analysis indicator showing a central moving average line plus channel lines at a distance above and below.

 

To create a Keltner Channel Trading Blox provides two indicators to create the upper and lower channel indicator calculations.  it also provides the simple Average function to create the average price line created by the average of the High, Low and Close price values.

 

Example shows the period lengths for the Keltner upper and lower bands, Average True Range, and Center price average.  All the calculations used  the same parameter bar count value.

 

Indicator lines displayed above and below the center average price are drawn a distance from center indicator price using the a floating point parameter value to spread the channel lines.

 

Parameter:

Description:

KeltnerBars

Integer value of the number of price bars to use in the calculation of the moving average, and the number of bars to use in the calculation of the ATR Bars (Average True Range).  It is also the parameter used in the calculation of the average price shown between the upper and lower channel bands.

KeltnerBandOffset

Decimal value used to expand the average price standard deviation distance for the upper and lower bands from the average price value.

 

Setup Example (Click on Images to enlarge):

Keltner Upper Channel

Keltner Upper Channel setup dialog.

 

Keltner Lower Channel

Keltner Lower Channel setup dialog.

 

Keltner Average Price

Keltner Average Price setup dialog

 

Chart Example (Click on image to enlarge):

Keltner Average Price

Keltner Upper, Lower and Average Price indicators

 

 


 

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