KeltnerBandCenter
ProRealTime v11Returns the Keltner Band center line value.
Syntax:
|
1 |
KeltnerBandCenter[period] |
Where:
- period= calculation period of the Keltner Band
Keltner Channel Calculation:
The middle line of a Keltner Channel is simple a n-day moving average applied to typical price. Typical price is calculated in the following way: Typical price = (high+low+close)/3 The upper and lower lines of the channel are determined by adding or subtracting a simple moving average of daily range (daily high – daily low) from the middle line. As a result, the width of the keltner channel depends on daily trading volatility. Interpretation If price closes above the upper line of the keltner channel, a bullish signal is given. If price closes below the lower line of the keltner channel, a bearish signal is given.
