Gap between Keltner Channels/Bollinger Bands in scanner

JMath3

New member
Would it be possible to add how much % gap I want between Keltner Channels and Bollinger Bands for scanner? Would appreciate any insight, thank you!

DwRg1YO.png
 
Yes, that would be possible... You just need to do the math to get the values you desire... The trick is that you need both studies combined or reference each study in order to do the comparisons...
 
Yes, that would be possible... You just need to do the math to get the values you desire... The trick is that you need both studies combined or reference each study in order to do the comparisons...
Yes, Ive looked at the % manually. I just want to add that to a scanner. What i would like to do is find stocks with Kelt upper or lower outside of BB with a percentage difference of 6% and under.
 
Last edited:
can you post a screenshot of what the studies and what they are exactly called in thinkorswim or alternativly you can post the code to the studies you are reffering to as your screenshot doesnt show it.
 
can you post a screenshot of what the studies and what they are exactly called in thinkorswim or alternativly you can post the code to the studies you are reffering to as your screenshot doesnt show it.
These are studies in thinkorswim "Bollinger Bands" and "Keltner Channels". Im not a coder, thats why I'm if I can get some help in setting it up for the scanner.
 
@JMath3 What you are actually looking for is the "squeeze"... The TTM_Squeeze indicator is actually an indicator that monitors the gap created when the Bollinger Bands "squeeze" inside the Keltner Channels... Researching TTM_Squeeze, as well as other scripts promoted by John Carter should yield you some valuable information...
 
you stated "how much % gap I want between Keltner Channels and Bollinger Bands" unfortunately there are many bands and you didnt specify what bands you wanted to compare for the gap percent. you will have to pick 2 bands to compare. let me know what you are trying to compare.
 
I was tinkering with Bollinger Bands, Keltner Channels, and TTM_Squeeze today as I considering a visual representation of what a Squeeze actually is and remembered this topic... I believe what @JMath3 is looking for is a percentage measurement of the amount of Squeeze but the problem is in the length of the Squeeze... Taking the length into consideration one would have to sum the values of each band during the Squeeze, average each bangs Squeeze value, find the difference between the Keltner Channels and Bollinger Bands, and then divide the difference by the sum of the Keltner Channels upper and lower band averages... The following is a mathematical example for a single candle... The calculation is based off of a random Squeeze on TLT from yesterday...

Upper KC Price: 157.57
Lower KC Price: 157.28
KC Price Diff: 00.29

Upper BB Price: 157.53
Lower BB Price: 157.32
BB Price Diff: 00.21

KC Price Diff: 00.29
BB Price Diff: 00.21
KC - BB Diff: 00.08

Percent = KC - BB Diff / KC Price Diff = 00.08 / 00.29 = 27.58% GAP

Average of Gap: 00.08 / 00.29 = 27.58% Gap

If someone wants to take the logic and extend it to the entire length of squeezes, go for it... If only the gap between the upper or lower band is desired, it should end up being somewhat close unless there is a great disparity between the upper and lower gaps...
 
For the KeltnerChannels there is
KeltnerChannels Avg Band
KeltnerChannels Upper_Band
KeltnerChannels Lower_Band



For the Bollinger Bands there is
Bollinger Bands MidLine
Bollinger Bands LowerBand
Bollinger Bands UpperBand

he didnt state in detail what two data points he was trying to compare for the GAP% ... OP will have to give more details on what he is trying to accomplish.
 

Join useThinkScript to post your question to a community of 21,000+ developers and traders.

Thread starter Similar threads Forum Replies Date
T Gap Between Candles? Questions 2
S Identify Gap-Up Pattern Questions 6
M ES gap for the next day? 4pm or 4:15pm. Questions 1
B Gap Up % on Watchlist Questions 0
Eyl Gap reduction Questions 1

Similar threads

Not the exact question you're looking for?

Start a new thread and receive assistance from our community.

87k+ Posts
412 Online
Create Post

Similar threads

Similar threads

The Market Trading Game Changer

Join 2,500+ subscribers inside the useThinkScript VIP Membership Club
  • Exclusive indicators
  • Proven strategies & setups
  • Private Discord community
  • ‘Buy The Dip’ signal alerts
  • Exclusive members-only content
  • Add-ons and resources
  • 1 full year of unlimited support

Frequently Asked Questions

What is useThinkScript?

useThinkScript is the #1 community of stock market investors using indicators and other tools to power their trading strategies. Traders of all skill levels use our forums to learn about scripting and indicators, help each other, and discover new ways to gain an edge in the markets.

How do I get started?

We get it. Our forum can be intimidating, if not overwhelming. With thousands of topics, tens of thousands of posts, our community has created an incredibly deep knowledge base for stock traders. No one can ever exhaust every resource provided on our site.

If you are new, or just looking for guidance, here are some helpful links to get you started.

What are the benefits of VIP Membership?
VIP members get exclusive access to these proven and tested premium indicators: Buy the Dip, Advanced Market Moves 2.0, Take Profit, and Volatility Trading Range. In addition, VIP members get access to over 50 VIP-only custom indicators, add-ons, and strategies, private VIP-only forums, private Discord channel to discuss trades and strategies in real-time, customer support, trade alerts, and much more. Learn all about VIP membership here.
How can I access the premium indicators?
To access the premium indicators, which are plug and play ready, sign up for VIP membership here.
Back
Top