KELTNER()

Definition Keltner Channel center line. The Keltner centerline is a moving average of the specified period (for the study function, a simple moving average is always used). The upper and lower channel lines are the centerline plus and minus a scale factor times the modified moving average of true range. To obtain the upper channel line, specify a positive multiplier; to obtain the lower line, specify a negative multiplier. Note that since the true range is used, the data series must be an unqualified instrument name.

Syntax

Formula Center Line:

Where:

CL = center line

EAVG = exponential moving average

n = number of bars

P = price

And:

Average True Range:

Where:

ATR = average true range

R = range

n = number of bars

H = high

L = low

And:

Upper Channel Line:

Where:

UP = upper channel value

CL = center line

ATR = average true range

C = constant

And:

Lower Channel Line:

Where:

DN = lower channel value

CL = center line

ATR = average true range

C = constant

Parameters SERIES
Required if the formula name declares the SERIES parameter.

INPUT
Required if the formula name declares the INPUT parameter.

PERIOD
Required if the formula name declares the PERIOD parameter.

<shift>
A number, positive or negative, enclosed in brackets defining the number of bars (periods) to shift the formula line. Typically used only in formulas that will be rendered in chart windows.

<multiplier>
Number of bars. See Center Line calculation, above.

Examples KELTNER_EX1(SERIES,PERIOD=9,MULT=12)=KELTNER(SERIES,PERIOD,MULT)

KELTNER_EX2(INPUT,PERIOD=9,MULT=12)=KELTNER(INPUT,PERIOD,MULT)