Keltner Channels

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KeltnerChannelTop(Periods, MA Type, Multiplier) or
KCT(Periods, MA Type, Multiplier)

KeltnerChannelMedian(Periods, MA Type, Multiplier) or
KCM(Periods, MA Type, Multiplier)

KeltnerChannelBottom(Periods, MA Type, Multiplier) or
KCB(Periods, MA Type, Multiplier)

Overview
Keltner channels are calculated from the Average True Range and shifted up and down from the median based on the multiplier.

Interpretation
Like other bands, Keltner channels can be imposed over an actual price or another indicator. Keltner bought when prices closed above the upper band and sold when prices closed below the lower band. Keltner channels can also be interpreted the same way as Bollinger bands are interpreted.

Recommended Parameters
Periods: 15
MA Type: EXPONENTIAL
Shift: 1.3

Example
set BUY = CLOSE > KCT(15, EXPONENTIAL, 1.3)
Evaluates to buy when the close closes above the Keltner channel top.

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