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High Customizable Keltner
Source: https://fxcodebase.com/code/viewtopic.php?f=48&t=66043
Forum: 48 · Topic 66043 · 1 post(s)
High Customizable Keltner
Alexander.Gettinger · Wed May 02, 2018 11:39 am
Keltner indicator looks similar and is calculated similar to the Bollinger Band Indicator.
In common, formula is:
Keltner.High(i) = Smooth(Source) + Variation * Factor Keltner.Low(i) = Smooth(Source) - Variation * Factor
There are many choices how to smooth the source and what is the variation.
The most common cases are: Case 1). Smoothing is Moving Average, Source is Close, Variation is average of the differences between high and low: Keltner.High = Avg(Close) + Avg(High - Low) Keltner.Low = Avg(Close) - Avg(High - Low)
Case 2). Smoothing is Moving Average, the Source is Median and Variation is Average True Range Keltner.High = Avg((High + Low + Close)/3) + ATR(Bar) Keltner.Low = Avg((High + Low + Close)/3) - ATR(Bar)
The implementation here lets you customize the source, smoothing method and variation method. Source can be: a) Close Price b) Median as (High + Low) / 2 c) Median as (High + Low + Close) / 3
Smoothing could be: a) Simple Moving Average (MVA) b) Exponential Moving Average (EMA) c) Linear Weighted Moving Average (LWMA) d) Smoothed Moving Average (SMMA) e) Wilder’s Moving Average (WMA)
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