Keltner Channel SE

Definition

Keltner Channel bands occur above and below the market. Prices within the bands are considered "normal".
When the breakout is below the lower Kelther band, a setup is established. When the breakout appears, a sell stop order is placed at the low of the bar where the breakout appeared minus 1 point.
The number of bars and the multiplier used for Keltner Channel bands calculation can be adjusted.

Usage

Short entry based on prices that cross the lower Keltner Channel band.

Default Inputs

Price - price to consider for the breakout.
Length - number of bars used for Keltner Channel calculation.
NumATRs - multiple of the average true range used for the Keltner Channel band calculation.

Note: Use Keltner Channel LE for entering a long position.