Indicator on Indicator

[Harry]

I can apply a Bollinger Band or a moving average or the ATR(14) to the StDev indicator.

If I try to apply a Keltner Channel to StDev, there will be just the moving average but no channel.

Am I doing something wrong?

[NinjaTrader_Brett]

Hello,

Thank you for your forum post.

The StdDev only was one plot line. The keltner channel input you selected will only input the Midline of the Keltner channel thus giving you the one plot line of the StdDev. You can specify the plot you want inputed to the stdDev.

To do what your looking for you will need to apply 2 StdDev indicators. One with the input indicator of Keltner channel with the upper plot line and the second one with the lower plot line to get both lines to create the channel.

Let me know if I can be of further assistance.

[Harry]

My problem was the other way round. I first add a StDev below price. When I apply a Bollinger Band to that standard deviation, it works. When I apply a Keltner Channel to that standard deviation it does not work.

I suppose that this is a bug.

Chart attached.

[NinjaTrader_Brett]

Harry,

I see thanks for clarifying your setup. I see the same on my side. I have sent this to development to see what is going on here.

[NinjaTrader_Bertrand]

Thanks for reporting in, this is expected though, the Keltner formula uses the High and Low value of the input series for it's range calc to add / substract to the midline, this would not make much sense if applied to non price data.

[Harry]

There are several versions of Keltner Channels around. Some of them - since they were reworked by Linda B. Raschke - use the ATR() instead of the simple range. No problem, I can modify the formula for my personal use to calculate the channels from an exponential moving average and the ATR(). It will then work on the StdDev() as well.

[NinjaTrader_Bertrand]

I see, you refer to something like the attached?

Now that you mention it I remember an article from Linda where she reported preferring Keltners over Bollingers as it was 'easier' on the eyes...

[Harry]

Yes, I prefer Keltner over Bollingers. My Keltner uses a smoothed EMA as the center line and then adds and subtracts multiples of ATR, so it displays nicely on indicators.

I see, you refer to something like the attached?

Now that you mention it I remember an article from Linda where she reported preferring Keltners over Bollingers as it was 'easier' on the eyes...