Keltner Channel: Documentation needs to be updated

[mgbloomfield]

In the documentation for Keltner Channel (http://www.ninjatrader-support.com/H...erChannel.html), it says:

"Keltner Channel indicator is based on volatility using a pair of values placed as an "envelope" around the data field. Values are calculated by taking the Exponential Moving Average of the data and adding or subtracting the average true range multiplied by an offset value from the moving average."

I opened the source code. It's using SMA, not EMA.

protected override void OnBarUpdate()
{
diff.Set(High[0] - Low[0]);

double middle = SMA(Typical, Period)[0];
double offset = SMA(diff, Period)[0] * offsetMultiplier;

double upper = middle + offset;
double lower = middle - offset;

Midline.Set(middle);
Upper.Set(upper);
Lower.Set(lower);
}

[NinjaTrader_JoshP]

Thanks for bringing this to our attention. We will get it corrected.

[NinjaTrader_Ray]

Our implementation is correct. The original Keltner Channel uses SMA. Later variations NOT by the original author uses EMA and sometimes even offsets of ATR. The documentation is incorrect and I will change that.

[mgbloomfield]

Our implementation is correct. The original Keltner Channel uses SMA. Later variations NOT by the original author uses EMA and sometimes even offsets of ATR. The documentation is incorrect and I will change that.

Agreed, the original uses SMA.

[geotrader]

keltner channel with EMA

Hello. I am looking for the Keltner Channel with the EMA.

Any help would be appreciated.

Thanks.

[NinjaTrader_Austin]

geotrader, you can open up the source code for the Keltner Channel indicator, make a copy (make sure to change the Keltner Channel name in the code itself!) of it, and then every time you see a reference to SMA, you can just change it to EMA and then compile it and you'll have an EMA Keltner Channel ready to go.