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Keltner Channels Explained.
http://www.financial-spread-betting.com/course/technical-analysis.html PLEASE LIKE AND SHARE THIS VIDEO SO WE CAN DO MORE! If you just looked at the last lesson about Bollinger bands, the chart using Keltner channels will look very familiar. Both types of indicator are used in generally the same way. But it is important to note the differences because they can be significant.
You’ll notice that the Bollinger bands, which are based on two times the standard deviation, tend to open and close fairly readily. On the other hand, Keltner channels use the ATR (generally a value of two times ATR) to position the high and low level boundaries, and therefore don’t seem to fluctuate so wildly.
While the Bollinger bands contain about 95% of all price movement, Keltner channels don’t work in this way. In fact you will see the price outside the channel fairly frequently. Because of this, you may need to be more subjective in picking your trades.
However some of the same principles apply in using Keltner channels as do for Bollinger bands. In a trending market, you can expect the price to stay to one side of the middle line – above it in an uptrend and below it in a downtrend. As mentioned, the price will go past the upper and lower channel lines, so these aren’t so readily used as constraints when considering the price action.
In an uptrend, the principle of looking to go long when the price dips to the midline, and of scaling out of your position when the price reaches the upper channel line is common to both indicators. Similarly, go short in a downtrend when the price touches the middle line and consider closing the position when it reaches the boundary lower line. That is the way that many traders use the Keltner and Bollinger indicators to enhance their trading.
You’ll also find that some traders put both sets of channels on the same chart, and play off the differences between them. It can be informative to do this when you’re learning to trade using these channels, because it highlights the differences that you need to be aware of when choosing which to use on a regular basis.
For those who prefer things neat and contained, Bollinger bands may be a preference, with their much more tight action around the price. But you will find many traders who believe that Keltner channels give them the edge, and prefer the smoother action and less volatility in the indicator.
Finally, you can also experiment with increasing the distance of the channels from the middle line. All charting software allows you to set your own parameters, and some traders prefer to use three times ATR on the Keltner channels. As demonstrated in the video, increasing the width of the channels this much allows most of the price action to be constrained within the boundaries. Inevitably, this is a trade-off, because by having a wider channel you will have fewer touches of the outer bands and therefore less signals to trade. As with all trading analysis techniques, you should experiment and find out what works best for you.
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