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AlchemyUpperKeltner (Function)

AlchemyUpperKeltner function returns the upper band of the Keltner Channel.  Keltner Channel is a channel that is based on a multiple of average true ranges above and below a moving average. KeltnerChannel is most commonly used with studies or strategies that measure or take advantage of market volatility. It is similar in concept to the BollingerBand function.

AlchemyUpperKeltner (Price, Length, Factor)

Parameters

Price

Specifies a numeric expression representing the price of a bar to be averaged (that is, Close, Open, Volume, and so on)

Length

Specifies the period of time (in bars) over which an average for the Mid Keltner will be taken

Factor

A multiplier applied to the current bar’s range. Factor will be positive for the upper band and negative for the lower band

Returns

The function returns a numeric value containing the upper Keltner Channel value for a specified bar.

Usage

Keltner Channel is a channel that is based on a multiple of average true ranges above and below a moving average. KeltnerChannel is most commonly used with studies or strategies that measure or take advantage of market volatility. It is similar in concept to the BollingerBand function.

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