// Keltner Channels are constructed similar to Bollinger Bands
// around a moving average +/- volatility.
// The difference is in the measurement of volatility.
// Bollinger uses standard deviation. MA(Close,20) +/- #STDs
// Keltner uses ATR (Average True Range). MA(Close,20) +/- #ATRs
// Keltner channels may be easier to use for detecting oversold / overbought conditions
Length = 20; Num_ATRs = 2;
// Length and Num_ATRs parameters should be personalized for your preferred settings.
Mov_Avg = MA(C,Length);
KUP = Mov_Avg + Num_ATRs * ATR(Length);
KDOWN = Mov_Avg - Num_ATRs * ATR(Length);
Plot (KUP,"KUP",1,1);
Plot (KDown,"Kdown",1,1);
Plot (Mov_Avg,"Mov_Avg",6,1);