Analysis Techniques & Strategies
|Price||Numeric||Close||Price value to consider for the breakout.|
|Length||Numeric||20||The number of bars used to calculate the Keltner Channel.|
|NumATRs||Numeric||1.5||Multiple of the average true range used to calculate the Keltner Channel band.|
Short entry based on prices crossing the lower Keltner Channel band.
Keltner Channel bands appear above and below the market. Prices that are within these bands are said to be 'normal' prices.
A setup is established upon the breakout below the lower Keltner band. Once the breakout has occurred, a sell stop order is placed at the low of the bar on which the breakout occurred minus 1 point.
You can change the number of bars and the multiplier used to calculate the Keltner Channel bands.
Order Name: KltChSE
Related Strategy: Keltner Channel LE
Related Function(s): AverageFC, AvgTrueRange