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Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (12360)	11/11/2002 11:52:01 AM
From: benchpress550	Read Replies (2) \| Respond to of 57110

Use the Keltner Channel Study to identify market trends by comparing today’s prices with yesterday’s prices. An absence of new highs indicates a down trend. An absence of new lows indicates an up-trend. A Keltner Channel study consists of a moving average and two channel lines. The channel lines are drawn by adding to and subtracting from the current moving average value the product of constant multiplied by the average true range of each bar. Formula: Center Line : CL= EAVGx(n-1)+ P --------------------- n Where: CL = center line EAVG = exponential moving average N = number of bars P = price And: Average True Range: ATR= (Rx(n-1) + (H-L)) N Where: ATR = average true range R = range N = number of bars H = high L = low And: Upper Channel Line: UP= (CL+ATR)xC Where: UP = upper channel value CL = center line ATR = average true range C = constant And: Lower Channel Line: CN=(CL-ATR)xC Where: DN = lower channel value CL = center line ATR = average true range C = constant Study Variables: Type Exponential Simple Smoothed Weighted Triangular Shift -50 – 50 Line Style Choice of five line styles. Line Thickness Choice of six-line thickness. Period or Smoothed Factor Color Choice of twenty colors or create a custom color. Upper Multi Upper Color Choice of twenty colors or create a custom color. Lower Multi Lower Color Choice of twenty colors or create a custom color. Related Topics Adding a Chart Element