As far a I remember there is a keltner channel that uses averages (found this one for now : https://www.mql5.com/en/forum/general)
Check it. maybe that is what you are looking for
Thats the version im using right now, i put the deviation to tight today yesterday that i used today at work, i got 400 alerts in a 8 hour time.
So i changed it a bit, now its fine tuning that is needed to see if it works better, adding a picture so you understand what my goal is.
As you can se on the last bar it is very close to a band , and it just penetrated the lower band becuase when the market is moving it follows it too much and moves up in the price so the price dosnt penetrade it at all.. so i dont know if it will work at all, it should be amazing to trade it the other way around , because when the bands move in the price the bar is as far gone as it could be so you will always buy and sell on current bar highest high and lowest low. but if a trend apears it will blow up the account..
If it always adjusts current value(s) so that it does not get penetrated, how are you going to use it in trading?
Thats why im asking you , is it possible to change the indicators calculation lets say rsi or something else ?
I was looking at the indicator when a new bar was created and then the channel got tighter and then it formed around the new bar , so maybe it was the average i was using that caused that.
I have changed my settings a bit , raised the diviation ,period ,smoothing period and changed average.
So i will se if its any good to continue with this at all
HAHA took a picture of it, no shit it gives alot of alerts this way , there is no way what so ever for the bar to clear that when a new bar formes..
That is the problem
If you wish yo have "tight" bands, then you are going a lot of alerts
I have to see if there is any other indicator that behaves differently from this one .
I was thinking of one thing, would it help if the keltner channel were made adaptive lookback ?
It can be made adaptive, but adapting would not prevent that price penetrates the bands
I think that i explained poorly, i want the price to penetrate the bands , thats the idea about how i trade . but for now its the other way around. Its the band itself that moves in the price and that causes the indicator to give lets say a buy alert when the current bar is at its highest possible peak and gives a sell when it is as low as it can be, because the bands follow the current trend and gets pushed in the price.
So you will never get an alert in the exact moment the price penetrates because that never happends.
So hopefully adaptive lookback will help it a bit in the right direction :-)
It will alerts you as soon as the price penetrates the bands as long as you ask for alert on a current, still opened bar
If you ask for an alert on a closed bar, then it will alert only when the bar closes