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Trade Station has an indicator that paints the bars on the Keltner Channel (DIG Keltner Channel 2.0) Has anyone found a similar one for Ninja Trader? It is a great visual read on a trend movement.
Can you help answer these questions from other members on NexusFi?
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 …
- which allows to use a Median, a Mode and 26 different moving averages as the midband
- which allows you to select between simple range (original) and true range for the bands
- which allows you to set different periods for calculating the midband and the volatility
- which allows you to further smooth midband and channels
- which allows you to color the channels according to the slope of the midband
- which uses a normalized (!) slope with a user selectable neutral area
- which comes with an option to display paint bars
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 …
Have made an update of the Keltner Channels today. There were a few reasons:
1. When displaced by one bar the Keltner Channel can be used to create PLDot Channel, a technique that is part of the Drummond Geometry, for further information see link below. The band colors and paint bars will now correctly align to the displacement of the indicator.
Hermo: What you look for is a variation of the Keltner Channel. The center line (PL Dots) is a simple moving average SMA(3) calculated from the typical price and displaced by one bar. The offset of the bands is calculated as the triangular moving average …
2. @Zondor discovered a little bug, which affected the opacity of the paint bars in COBC = false mode. More details here:
I had introduced the variable trendColor, which should be used in that line, aBarColor is therefore not required. It was just a slip of the pen, the correct code would be
if(candles && Close[0] > Open[0])
BarColor …
3. I have updated the Ehlers and Gauss filters, further removed the moving mode as an option for the midband, as it was not useful.
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 …
Below is a variation of the Keltner Universal Channel, which was used to approximate the PBF iTunnel. More information is here:
The indicator is built from a moving average with more or less fixed channel lines added. This is really nothing you should spend money on. I do neither know, which moving average was used nor what its settings were, but if you want to build something …
-> Added a second indicator which calculates the upper band from an average of the highs and the lower band from an average of the lows.
-> Removed a little bug. The average range or average true range can also be calculated as a Butterworth, Gauss or Supersmoother average from the true range. I had inverted the parameters in the formulae, which is now corrected.
A chart of the updated indicator is shown below.
-> anaKeltnerUniversal is the traditional version of the indicator.
-> anaKeltnerUniversalHiLo is a modified version which calculates the upper band from the average of the highs and the lower band from the average of the lows.
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 …
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 …
