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[EquisMetaStock Group] Re: from easylanguage to metastock...Keltner



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Claudio,

I've done quite a bit of research on this today.
It seems that Metastock Pro FX includes the Keltner Channels. 
The indicator was introduced by Chester W. Keltner (in his book "How 
To Make Money In Commodities" (1960)).  Later it was modified by 
Linda Raschke. Keltner Channels, also known as Keltner Bands are a 
volatility-based technical indicator. The Channels are composed of 
two bands plotted around an Exponential Moving Average of the data 
for a given period and are they are calculated by adding/subtracting 
twice the average true range from the moving average. There was a 
good bit of discussion on the Equis Forum about it. Here are some 
links that I think you will find interesting. 

http://forum.equis.com/search/SearchResults.aspx?q=keltner

http://en.wikipedia.org/wiki/Keltner_channel

http://www.futurespartners.com/articles/traders/raschke2.html

TASC   December 1999   Stuart Evens 
traders.com/Documentation/Feedbk_docs/Archive/.../Evens/Evens.html


So what is different about Olivier Seban's (at 
www.aaztrading.com) "SuperTrend" ? Nothing more than midband or 
moving average options that he provides. Six in total. I wasn't able 
to interpret exactly what he was using or what he meant 
by "threshold" but I certainly see an exponential moving average as 
an option. A basic indicator is listed below. To make modifications 
simply change the moving average to what you would like.

Hope this helps,

Preston


Pds:= Input("MA Periods",1,100,20);
Mult:= Input("ATR Multiple",1,10,2.0);
MA:=Mov(C, Pds, E);{MA choice here}                                  
Diff:= ATR(Pds/2) * Mult;
Sup:= MA + Diff;
Inf:= MA - Diff;
MA; Sup; Inf;







--- In equismetastock@xxxxxxxxxxxxxxx, pumrysh <no_reply@xxx> wrote:
>
> Thanks :D,
> 
> You found a better version than I did.
> 
> Here's the translation and certainly more to go on:
> 
> {HBKeltnerbandesPGI: Bands Higher Low and average on interval 
gives 
> (standard supertrend of Seban) Standard calcul=
> 1 moy arith without threshold
> 2 moy arith with threshold
> 3 moy expo without threshold
> 4 moy expo with threshold
> 5 moy lays without threshold
> 6 moy lays with threshold
> 
> 
> While I may not be able to give a perfect translation, there 
should 
> be no problem giving the Keltners with some or most of these 
options.
> 
> You're right the coding is EasyLanguage but I think a portion is 
> specific to the application because it is profiding plot colors.
> 
> More in a bit.
> 
> Thanks again :D,
> 
> Preston
> 
>   
> 
> --- In equismetastock@xxxxxxxxxxxxxxx, "jimmydahands" 
> <bellamy_29m@> wrote:
> >
> > --- In equismetastock@xxxxxxxxxxxxxxx, pumrysh <no_reply@> wrote:
> > >
> > > Claudio,
> > > 
> > > Sorry, just not enough info to go on. I did a google and saw a 
> chart 
> > > that looked like a Bollinger Band with an additional set of 
> bands 
> > > but its impossible to make sure that this is the code for it.
> > > 
> > > Preston
> > > 
> > 
> > 
> > Preston,
> > 
> > For what its worth the full code in EL (including errors, bad 
code
> > sections and false logic) is available here:
> > http://www.sierrachart.com/discus/messages/2/supertrend-20831.txt
> > 
> > The system appears to be based on Keltner Bands.  If Keith or 
> Claudio
> > desperately want to see this in MS maybe they should get in 
touch, 
> but
> > I dare say it might not be worth it?
> > 
> > :D
> >
>




 
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