Keltner Channel with 3 sets of Bands

[GoldBands]

I have a custom KC indicator. I would like it to have 3 sets of bands. I've seen other posts where they've had to create 3 indicators to achieve this. Is there another way?

I'm using the following code to add the basic mid and upper lower bands.

AddPlot(Brushes.Lime, NinjaTrader.Custom.Resource.KeltnerChannelMidline) ;
AddPlot(Brushes.Blue, NinjaTrader.Custom.Resource.NinjaScriptIndicator Upper);
AddPlot(Brushes.Blue, NinjaTrader.Custom.Resource.NinjaScriptIndicator Lower);

Any ideas would be appreciated.

Thanks

[NinjaTrader_ChrisL]

Hi GoldBands, thanks for posting.

The Bollinger indicator will be the best example to demonstrate this. It can be viewed from the Indicators folder of the NinjaScript editor.

Kind regards,
-ChrisL

[GoldBands]

Sorry, maybe I wasn't clear. I want a Keltner channel with
1 mid line
3 bands above and below the midline.

The Bollinger Band example you pointed me to has the same 3 lines as the standard Keltner channel. That is not what I want. Here's the BB code:

AddPlot(Brushes.Goldenrod, NinjaTrader.Custom.Resource.BollingerUpperBand);
AddPlot(Brushes.Goldenrod, NinjaTrader.Custom.Resource.BollingerMiddleBand);
AddPlot(Brushes.Goldenrod, NinjaTrader.Custom.Resource.BollingerLowerBand);

I want

UpperBand3
UpperBand2
UpperBand1
Midline
LowerBand1
LowerBand2
LowerBand3

Any help is appreciated.

Thanks

[NinjaTrader_ChrisL]

Hi, The custom indicator will need to add more plots and set a higher and lower deviation for each plot added. Firstly, right click the Keltner code>Save As>give it a new name to save a copy of this script that can be edited. Then add more plots e.g.:

AddPlot(Brushes.DarkGray, NinjaTrader.Custom.Resource.KeltnerChannelMidline) ;
AddPlot(Brushes.DodgerBlue, NinjaTrader.Custom.Resource.NinjaScriptIndicatorUpper);
AddPlot(Brushes.DodgerBlue, NinjaTrader.Custom.Resource.NinjaScriptIndicatorLower);
AddPlot(Brushes.DodgerBlue, NinjaTrader.Custom.Resource.NinjaScriptIndicatorUpper1);
AddPlot(Brushes.DodgerBlue, NinjaTrader.Custom.Resource.NinjaScriptIndicatorUpper2);
AddPlot(Brushes.DodgerBlue, NinjaTrader.Custom.Resource.NinjaScriptIndicatorLower1);
AddPlot(Brushes.DodgerBlue, NinjaTrader.Custom.Resource.NinjaScriptIndicatorLower2);

Then define more offsets in OnBarUpdate, just for an example, this can be different:

double offset    = smaDiff[0] * OffsetMultiplier;
double offset1    = smaDiff[0] * OffsetMultiplier*2;
double offset2   = smaDiff[0] * OffsetMultiplier*4;

double upper1 = middle + offset1;
double upper2 = middle + offset2;
double lower1 = middle - offset1;
double lower2 - middle - offset2;

Values[3][0] = upper1; 
Values[4][0] = upper2;
Values[5][0] = lower1;
Values[6][0] = lower2;

[GoldBands]

Hi Chris,

Thanks for the code. I thought I had actually tried something like that but got compile errors at some point. Now that I know this is the correct approach I will give it another try.

Thanks,

Ned

[GoldBands]

Hi Chris,

I am getting an error

"ninjascript custom resource does not contain a definition for NinjaScriptIndicatorUpper1"

I am getting it for the 4 bands I want to add.

How do I add the definition? I am using the script editor, not visual studio.

Thanks.

[NinjaTrader_ChrisL]

Hi GoldBands, sorry that was my mistake from just pasting the code into the forum. We can use our own String for that parameter:

AddPlot(Brushes.DarkGray, NinjaTrader.Custom.Resource.KeltnerChannelMidline) ;
AddPlot(Brushes.DodgerBlue, NinjaTrader.Custom.Resource.NinjaScriptIndicatorUpper);
AddPlot(Brushes.DodgerBlue, NinjaTrader.Custom.Resource.NinjaScriptIndicatorLower);
AddPlot(Brushes.DodgerBlue, "Upper1");
AddPlot(Brushes.DodgerBlue, "Upper2");
AddPlot(Brushes.DodgerBlue, "Lower1");
AddPlot(Brushes.DodgerBlue, "Lower2");

[GoldBands]

Thanks, Chris, that worked!