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Does anyone know a way to get the keltner channel to adapt to a
logarithmic chart? The channel works well on a standard chart but
goes wacky on a logarithmic chart.
TIA
Here is the code off the AFL website.
// Keltner Channels are constructed similar to Bollinger Bands
// around a moving average +/- volatility.
// The difference is in the measurement of volatility.
// Bollinger uses standar= 2d deviation. MA(Close,20) +/- #STDs
// Keltner uses ATR (Average True Range). MA(Close,20) +/- #ATRs
// Keltner channels may be easier to use for detecting oversold /
overbought conditions
Length = 22; Num_ATRs = 2;
// Length and Num_ATRs parameters should be personalized for your
preferred settings.
Mov_Avg = EMA(C,Length);
KUP = Mov_Avg + Num_ATRs * ATR(Length);
KDOWN = Mov_Avg - Num_ATRs * ATR(Length);
Plot (KUP,"KUP",1,1);
Plot (KDown,"Kdown",1,1);
Plot (Mov_Avg,"Mov_Avg",6,1);
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