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Creator: Chester Keltner
Default period: 10
In the Keltner ATR indicator, three lines are plotted below the chart.
1 – Green line is the Upper Band
2 – Red line is the Middle Band
3 – Blue line is the Lower Band
The Keltner channel calculates the average typical price and plots the upper and lower bands based on the average range from the average typical price. The typical price is the average of the high, low, and closing prices of the session.
A price that is above the upper band of the Keltner channel is bullish. A price below the lower band of the Kelter channel indicates a bearish trend. The price zone between the bands is regarded as neutral.
Click here to know more about Keltner channel and Keltner ATR bands.
The indicator table value in TradePoint & RZone also provides you with a list of all values of this indicator for any group of stocks. This will allow you to compare the readings of this indicator across different stocks.
This indicator is also available in the System Builder of RZone & TradePoint for all charting methods. Using the system builder, you can develop various strategies based on the different conditions already present in this indicator. Additionally, it can be used with other indicators or price patterns to develop effective trading strategies. For any group of stocks and market segments, you can scan and backtest stocks based on those strategies.
The indicator is applicable to all types of charting. Calculated based on the number of columns on P&F charts, bricks on Renko charts, lines on Line-break charts, candles on Heikin ashi charts, and lines on Kagi charts. While the formula and reading of the indicators remain the same, they become more dynamic on these charts.