ATR Channel Indicator Development

[Rainbowlighthousecp]

Hi,

I tried searching through this forum and was unable to locate this indicator. Appreciate if this has been developed before, please point me to it. If it has not been build before, I would be grateful if you can build it.

Formula for ATR Channel:

Channel High = Opening price + (40% x 3 day true range averaged out)
Channel Low = Open price - 40% x 3 day true range averaged out)

Additional notes -
True range = (today's High) - (today's Low)
average these "True Ranges" over the past 3 days

Please develop this indicator so that it can be inserted in the price chart and not as a lower study indicator like the MACD Histogram.

Thanks!!

[Apprentice]

As far as I know such indicator is not developed.
Give me a few days.

[Apprentice]

Try Keltner Channel, it should help.
http://fxcodebase.com/code/viewtopic.php?f=17&t=280&start=0&hilit=Keltner

In any case I'll make the required Indicator, because of certain discrepancies in your definition, and some cool features to me.

[Apprentice]

Here you can find several versions of the indicators.
http://fxcodebase.com/code/viewtopic.php?f=17&t=858&start=0

[Rainbowlighthousecp]

Hello,

Wow, you've put some speed into this! Thank you, thank you, thank you!! And a multiple channel one too!! I can't wait to test all these out!