Have now updated the Bollinger Universal and Keltner Universal indicators.

The indicators can be found here:

Download: Bollinger Universal V4 Exported using NT version 7.0.1000.27 This is a generalized version of the Bollinger Bands with a few options added: - The midband can be selected from a moving median, a moving mode or 27 different moving averages. - Midband and channels can … personFat Tails

Download: Keltner Universal V4 Exported using NT version 7.0.1000.27 This is a generalized version of the Keltner Channels with a few options added: - The midband can be selected from a moving median, a moving mode or 27 different moving averages, all of which are calculated … personFat Tails

Have now updated the Bollinger Universal and Keltner Universal indicators.

You can select the midband from moving median, moving mode and 27 moving averages. Period for the midband and the smoothing period for the range or true range can be different. Both indicators allows to color the plots according to their slope or alternatively according to the slope of the midband. The range where the slope is considered neutral can be adjusted. It is possible not to display midband or channels.

The last version of the indicators had not called the Butterworth, Gauss and Supersmoother filters in a proper way.
All other moving averages were not affected.

Therefore I had to update the indicators again. The indicators can be found here:

Download: Bollinger Universal V4 Exported using NT version 7.0.1000.27 This is a generalized version of the Bollinger Bands with a few options added: - The midband can be selected from a moving median, a moving mode or 27 different moving averages. - Midband and channels can … personFat Tails

Download: Keltner Universal V4 Exported using NT version 7.0.1000.27 This is a generalized version of the Keltner Channels with a few options added: - The midband can be selected from a moving median, a moving mode or 27 different moving averages, all of which are calculated … personFat Tails

Sorry for any inconvenience.

@Fat Tails, I may not have grasped all of your post several post ago, but if I could simplify what I read in terms for people like myself, if I used change of price over change of time, it would pass the C-2 test. Then 45 deg doesn't really mean anything because when a person running - velocity (mile/hour) or in trading (price changed/hour) would be the velocity. To know a flat period of time that price would be a low number under some arbitrary threshold. All that to say if I want to look at a chop filter, I could check velocity and if it's under x then its basically flat and not trending above my desired value.

If all that's valid, I could extend that by thinking, change in price/time would give me the acceleration (1st derivative of velocity) and I could use those values to indicate what some might call momentum.

Does that sound like I understand your points?

When charts were printed, angles were used as a proxy for momentum. A steep angle indicated high momentum, a flat angle low momentum. As the x-axis and y-axis of modern charting applications are scalable, this approximation does not make any sense today.

Momentum is in fact comparable to velocity, as momentum is price change over a time period. We cannot talk of a 1st derivative because the trades are discrete events and the discontinuous price function is not differentiable, but you may consider momentum as somewhat equivalent to the first derivative of price.

Angles could be used as tool to determine whether prices were rising, falling or flat, where "flat" was the equivalent of all smaller angles, for example all angles between -5° and + 5°. To find a similar threshold for momentum, we need to normalize momentum. The only possible input value to normalize momentum is the average bar size. Consider

-> bar size or range = 1-bar volatility (non-directional)
-> momentum(n) = n-bar volatility (directional)

By dividing momentum through the average range or average true range and the number of bars, you get a normalized value of momentum, which tells you whether a price move over n bars was steep or flat relative to intra-bar volatility. One possible formula would be

normalized momentum (n) = momentum(n) / ( n * SMA (true range (n)))

After applying such a normalization, you will also get reasonable results across different instrument and different timeframes. Such a normalized momentum will have a value between -100 and + 100 and you can define an upper and lower threshold such that all values contained between the threshold values can be considered as flat.

Thanks for the well thought out response. After reading it, the question it raised is won't the formula above be recursive since the result is part of the equations input?

I'm not sure you answered another question that I had about the possibility of using change of price over change of time to determine slope and use that slope as a value to set a threshold.

Have updated the two indicators today.

Have added paint bars to the Bollinger Universal indicator. Both indicators now use updated indicators for the Ehlers and Gauss filters. The mode is removed and no longer available. The indicator can now be displaced and will correctly align the plot colors and paint bars to the displacement.

Download: Bollinger Universal V4 Exported using NT version 7.0.1000.27 This is a generalized version of the Bollinger Bands with a few options added: - The midband can be selected from a moving median, a moving mode or 27 different moving averages. - Midband and channels can … personFat Tails

Download: Keltner Universal V4 Exported using NT version 7.0.1000.27 This is a generalized version of the Keltner Channels with a few options added: - The midband can be selected from a moving median, a moving mode or 27 different moving averages, all of which are calculated … personFat Tails