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Keltner Channels

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Center Line :  MA(CL, Period, Type)
Hi Band :  Center Line + MA(True Range, Period, Type) * HiMultiplier
Lo Band :  Center Line – MA(True Range, Period, Type) * LoMultiplier

True Range
TR = MAX{
1- ABS(HI1 – LO)
2- ABS(HI – CL1)
3- ABS(CL1 – LO)

Above is a Daily Line Chart of an S&P 500 Future contract (SP`M) .  The white line is the center line of the Keltner study, while the Blue lines represent the high and low bands, based on the preferences specified below.

The Preferences . . .
1- MA Type Moving Average type, which is applied to both the true range, and the closing price in the calculation.
2- MA Period Moving Average period, which is applied to both the true range, and the closing price in the calculation.
3- Center Line Color Color of the Center Line.
4- Hi Band Color Color of the High Band.
5- Lo Band Color Color of the Low Band.

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