The user can add the Keltner Channels indicator to their chart by right clicking the chart and selecting Study Config to open the study configure window first, then select the “Keltner Channels” study from the Available Studies list and add it into the Current Studies list.
Explanation of Each Field
Middle Line section: Allows the user to adjust the middle line’s study parameters in the Keltner Channels study.
- MA Type: Select the type of moving average used for the study.
- MA Period: Enter the study period for the exponential moving average.
- MA Source: Use the drop down menu to select the study source for the exponential moving average.
- Open: Use the open price data to calculate the exponential moving average.
- High: Use the highest price data to calculate the exponential moving average.
- Low: Use the lowest price data to calculate the exponential moving average.
- Close: Use the close price data to calculate the exponential moving average.
- (High+Low)/2: Use this equation to calculate the price first, then use those price data to calculate the exponential moving average.
- (High+Low+Close)/3: Use this equation to calculate the price first, then use those price data to calculate the exponential moving average.
- (Open+High+Low+Close)/4: Use this equation to calculate the price first, then use those price data to calculate the exponential moving average.
- Line Style: Allows the user to modify the middle line’s line style, line color, and line width.
Channel Lines section: Allows the user to adjust the channel lines’ study parameters in the Keltner Channels study.
- ATR Period: Allows the user to adjust the Average True Range (ATR)’s study period for channel lines in the Keltner Channels study.
- ATR Multiplier: Allows the user to adjust the Average True Range (ATR)’s study multiplier for channel lines in the Keltner Channels study.
- Line Style: Allows the user to modify the channel lines’ line style, line color, and line width.
