During replication of one strategy that uses SQ_KeltnerChannel indicator, I have found several bugs in this indicator.
https://www.investopedia.com/terms/k/keltnerchannel.asp
First bug is that TypicalPrice is used statically in this indicator.
Based on online docs Close should be used here.
This variable can be used dynamically: Close, Open, Low, TypicalPrice, etc...
Second bug is that Average (SMA) is used.
Based on online docs EMA should be used.
This variable can be used dynamically: SMA, EMA, WMA, etc...
Third bug is that in the offset Range is used instead of TrueRange.
Not sure about this. Might be actually not a bug.
After all fixes I think KeltnerChannelDown, KeltnerChannelMiddle and KeltnerChannelUp should be unified too.
Description changed:
During replication of one strategy that uses SQ_KeltnerChannel indicator, I have found several bugs in this indicator.
https://www.investopedia.com/terms/k/keltnerchannel.asp
First bug is that TypicalPrice is used statically in this indicator.
Based on online docs Close should be used here.
This variable can be used dynamically: Close, Open, Low, TypicalPrice, etc...
Second bug is that Average (SMA) is used here?
Based on online docs EMA should be used here.
This variable can be used dynamically: SMA, EMA, WMA, etc...
Third bug is that in the offset Range is used instead of TrueRange.
Not sure about this.
After all fixes I think KeltnerChannelDown, KeltnerChannelMiddle and KeltnerChannelUp should be unified too.
Description changed:
During replication of one strategy that uses SQ_KeltnerChannel indicator, I have found several bugs in this indicator.
https://www.investopedia.com/terms/k/keltnerchannel.asp
First bug is that TypicalPrice is used statically in this indicator.
Based on online docs Close should be used here.
This variable can be used dynamically: Close, Open, Low, TypicalPrice, etc...
Second bug is that Average (SMA) is used here?
Based on online docs EMA should be used here.
This variable can be used dynamically: SMA, EMA, WMA, etc...
Third bug is that in the offset Range is used instead of TrueRange.
Not sure about this. Might be actually not a bug.
After all fixes I think KeltnerChannelDown, KeltnerChannelMiddle and KeltnerChannelUp should be unified too.
Description changed:
During replication of one strategy that uses SQ_KeltnerChannel indicator, I have found several bugs in this indicator.
https://www.investopedia.com/terms/k/keltnerchannel.asp
First bug is that TypicalPrice is used statically in this indicator.
Based on online docs Close should be used here.
This variable can be used dynamically: Close, Open, Low, TypicalPrice, etc...
Second bug is that Average (SMA) is used.
Based on online docs EMA should be used.
This variable can be used dynamically: SMA, EMA, WMA, etc...
Third bug is that in the offset Range is used instead of TrueRange.
Not sure about this. Might be actually not a bug.
After all fixes I think KeltnerChannelDown, KeltnerChannelMiddle and KeltnerChannelUp should be unified too.
Status changed from New to Refused
We can make a "standard" implementation of KeltnerChannel as a separate building block, but it is a feature request, not a bug.
And it doesn't have that big priority right now.