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Multiple Keltner Channels (amaMultiKeltner)
Version 1.6 November 25, 2017
The
Multiple Keltner Channels
are a generalized version of the Keltner Channels.
Standard Keltner channels are built from a simple moving average (SMA) and two channels lines above and below. The two lines above and below are drawn at a distance from the center line, a distance which is a multiple of the simple moving average of the ranges of the past N bars.
The generalized concept has the SMA replaced with any of 30 moving averages. The volatility measure used to calculate the distance of upper and lower line from the center line can be derived from an average range (AR) or average true range (ATR). You may select different lookback periods for the moving average that serves as the center line and the moving average which is applied to the range or true range.
The Multiple Keltner Channels come with an additional smoothing option for center line and channel lines. The additional smoothing is obtained by further smoothing all plots with a 3-period simple moving average (SMA).
Moving averages available for calculating the center line:
- Adaptive Laguerre Filter
- ADXVMA
- Butterworth Filter
- DEMA
- Distant Coefficient Filter
- Double Weighted Moving Average (DWMA)
- Exponential Hull Moving Average (EHMA)
- EMA
- Gaussian Filter
- HMA
- Holt EMA
- Laguerre Filter
- LinReg
- Moving Mean TPO
- Moving Median
- Moving Median TPO
- Range Weighted Moving Average (RWMA)
- Sine Weighted Moving Average (SWMA)
- SMA
- SuperSmoother
- TEMA
- Tillson T3
- TMA
- Triple Weighted Moving Average (TWMA)
- Wilder's Average
- WMA
- ZerolagHATEMA
- ZerolagTEMA
- ZLEMA
Moving averages colored according to slope:
You may also use this indicator to display any of the above listed moving averages and color them according to slope. The slope is not based on a geometrical concept, as this would not be compatible with the scalability of modern charting applications. The indicator adjusts slope to bar volatility such that the indicator may be used across all instruments and bar types with the same settings. The slope is shown as upsloping, downsloping or flat. The degree of flatness which is still considered as being flat may be adjusted via the neutral threshold parameter. When you set that parameter to zero, the slope will not show any flat sections, but the moving average will always be identified as upsloping or downsloping. Channel lines may be unselected, if you just wish to display the selected moving average.
Volatility measures:
The standard Keltner channel uses the range. This indicator also for substituting the range with the average true range. The average true range is used as default option to facilitate the application of the Multiple Keltner Channels to other indicators.
Applying the Multiple Keltner Channels to indicators:
When an indicator is used as input series, the range will always return the value 0. However, the average true range will return the absolute amount of the difference of two neighbouring data points of the selected input series. Therefore the indicator may only be applied to other indicators, as long as the offset formula is set to "True_Range".
Paint Bars:
The Multiple Keltner Channel indicator comes with paint bars. The paint bars are colored according to the slope of the center line. The paint bars may be displayed without the indicator plots. The colors of the paint bar will then show the slope of the moving average selected as center line.
Sound Alerts:
In case that the sound alerts are active, the indicator will alert you when the trend derived from the slope of the center line changes. Currently, there are no sound files included with the zip file, but it is easy to create them and copy them to the NinjaTrader sounds directory.
Category
NinjaTrader 8 Indicators and More
Details:
Multiple Keltner Channels (amaMultiKeltner)
Category:
NinjaTrader 8 Indicators and More
November 25th, 2017
Size: 81.22 KB
Downloaded: 1734 times
Keywords:
channel
keltner
keltnerchannel
movingaverage
range
slope
truerange
volatility
1939
Fat Tails
Comments/ratings
zohar
November 25th, 2017 04:30 PM
thanks
jta3
November 26th, 2017 07:15 AM
Nice, Only missing Square root as moving average.
ztekinos
November 26th, 2017 03:08 PM
No Comment
stef
November 27th, 2017 05:48 AM
Thanks !
Buscador
December 26th, 2017 12:02 PM
No Comment
panamajack
February 2nd, 2018 02:41 AM
Thanks for the indicator..
hautetoddy
April 30th, 2018 12:51 PM
Most helpful. Thanks
datahogg
May 8th, 2018 10:40 AM
Thanks for your work.
Botts
May 11th, 2018 11:05 AM
Nicely done, as always.
rickr
September 10th, 2018 01:33 PM
Thanks once again Fat Tails . . .
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