Keltner Channel Indicator
Keltner Channel is an oscillator like Bollinger Bands.
Keltner Channel displays a channel where price is supposed to stay unless we are in overbought or oversold situations.
Various strategies use Keltner Channel indicator successfully to spot overbought / oversold situations and look for reversals.
Keltner Channel indicator uses ATR to determine overbought and oversold situations.
Inputs of the indicator are the followings:
- Keltner Period: period to be used for the moving average calculation
- MovingAverageMethod: method to be used for the moving average calculation (exponential, simple, smoothed, linear weighted)
- KeltnerDeviation: deviation to be used for calculation of upper and lower bands
- ATRPeriod: ATR period to be used for calculation of upper and lower bands