Ensign Software training session on Channels: Paltalk: This is a G rated voice group intended for a General Audience including minors. Offensive language is not permitted. To speak, hold the ctrl key down. Welcome Msg: Receive support and training for Ensign Windows. Ensign Software: The spread line might also show a cycle in the band expanding or contracting. Ensign Software: Trend lines can be put on the spread line too. Ensign Software: To remove the study, you can use the study properties window and click REMOVE button, or use the chart objects list and click Remove button. MarkCA: Can custom formula quote sheets be created in Ensign? Ensign Software: The Keltner Channel will be applied to the chart next, by selecting it from the study drop down list. Ensign Software: The Keltner Channel is similar to Bollinger Bands, but uses the AVERAGE TRUE RANGE to make the channel band instead of the standard deviation. Ensign Software: ATR is the difference between the High-Low, but also considers where yesterday's close is. If yesterday's close is lower than today's low, then the ATR is High-Yesterday CLose. Ensign Software: Or, if the close yesterday is higher than today's high, then True Range is Yesterday's CLose - Low Ensign Software: Keltner measures the True Range for X number of bars and averages them. Ensign Software: This gives us the Average True Range. Ensign Software: The center lines is an exponential moving average, and the bands are created by adding or subtracting ATR from the center line. Ensign Software: Open the properties window by clicking on the center line, or by using the chart objects list. Ensign Software: The Keltner Properties window is similar the Bollinger Bands window. Ensign Software: The 1st parameter is a multiplier to amplify the ATR that is added and subtracted from the center line. Ensign Software: The AVE parameter creates the center line. Ensign Software: The Data Point for Keltner can be any part of the bar, and often is the (High+Low+Close)/3 Ensign Software: Again, the Spread will show a 4th line for the spread between the study bands. Ensign Software: The bands are traded the same way as discussed for Bollinger Bands. When the market is volatile, the bands will widen. Ensign Software: In a choppy market, fade the market by selling the top band and buying the bottom band. Ensign Software: Band studies can be located in any of the study sub-windows, however the most common location is on the Chart. Ensign Software: In a study sub-window, grid lines can be selected to be displayed. Ensign Software: The Average True Range can be plotted by itself by checking the Ave.True Range box. Ensign Software: This will change the study from being a Keltner Channel to being just a plot of the ATR on the bottom of the chart. For this, you probably want a multiplier of 1. Ensign Software: Remove Keltner from the chart, and we will now talk about the last two studies of the Uni-Channel and Regression Channel. Ensign Software: Add a Uni-Channel to the chart from the study drop down list. Ensign Software: The Uni-Channel is kind of an all purpose channel that is simple in its math. Ensign Software: The center line can be either a simple or exponential moving average of the data points. Ensign Software: The Uniform Channel bands can be created as a percentage of the price. Ensign Software: Enter a percentage value, such as 2 to plot channel bands that are 2 percent away from the center line. Ensign Software: Typically use smaller percentage values on lower time frame charts. Ensign Software: On a daily or weekly chart, percentages might be 5 to 10 percent. Ensign Software: If you do not want to use percent, you can have a channel at a fixed price distance. Ensign Software: Enter the percent parameter to be 0 (zero), and in the 3rd parameter box enter the channel distance, such as 500 for a fixed 500 point channel. Ensign Software: The fixed band distance is entered in the Offset U/D parameter box. Ensign Software: The trading logic would be the same as discussed before. Either a breakout above or below for a trending market, or fading the study bands when the market is in a sideways chop. Ensign Software: The spread on this study will be boring, almost a flat line because the channel spread is quite constant. Ensign Software: The last channel is the Regression Channel. Again add it to the chart from the study drop down list. Ensign Software: The Regression Channel is similar to the Uniform Channel, except the center line is NOT a moving average. Ensign Software: Instead, the center line is using least squares method to determine a best fit line through X number of bars. Ensign Software: For example, for the last 20 closes, there is a way to draw a straight line through these 20 prices such that is is the best fit through the data. Ensign Software: Ensign WIndows does have a linear regression line that will snap to the best fit slope through the data between your two construction points. Ensign Software: The regression channel determines a best fit data point for each bar location, and connects these as a center line. Ensign Software: The Bars parameter is the number of data points for the regression calculation. Ensign Software: The end of the trend line at the last bar in the period gives us the data point for the center line. Ensign Software: We connect these calculation points to make a center line. Ensign Software: The channel bands are then either a percent of the price or a constant offset, similar to the discussion just had for the Uniform Channel study. Ensign Software: This channel is traded in the same manner as discussed for the other channel studies. elly_34: will this be posted somewhere? Ensign Software: yes, a transcipt will be posted to the FAQ page of the Ensign web site. elly_34: ty GGriz: what is default data point for regression chan Ensign Software: Some of the discussion in chat rooms has been about how to trade through the chop. Ensign Software: You might consider using channel studies to trade in choppy markets. Ensign Software: The data point for all of these channel studies is typically Close, but can be any part of the bar's data. Ensign Software: The Bars parameter is the number of data points to be considered in making the study center line, either through averaging or in the regression calculation. GGriz: ty Ensign Software: The Data Point can increase the smoothing if (H+L)/2 is selected. Ensign Software: These studies can operate on the output of OTHER studies by selecting Study as the data point. Ensign Software: When Study is selected, there will appear a drop down box showing other studies presently on the chart. Ensign Software: For example, if RSI is already on the chart, then the channel can operate on RSI data points and you can have a channel on the RSI study. Ensign Software: Thus, you can do Bollinger Bands on Stochastic, or any other study, or even of the Volume. Ensign Software: That pretty well covers the subject of channel studies that are available in Ensign Windows. Orprepus: thanks Kimabll serjac: Where do I find the linear reg. lines in draw ensign_kimball: The Linear Regression Draw Tool is applied to a chart by clicking on the 'Linear Regression Tool'. Select a Start and End point. ensign_kimball: The Best Fit Line will snap to the screen when you complete the tool. serjac: Thanks! elly_34: lol Buffy_04364: LOL serjac: good one GGriz: or Jerry Lee Louis, but he was b4 ur time STUPIDO: thank you GGriz: I have been trying to use linear regr channels Buffy_04364: yes Buffy_04364: great Buffy_04364: thanks serjac: Can you add calender days to Fib and Gann cycles? Buffy_04364: yahoo different layouts for different studies Buffy_04364: thank you Buffy_04364: well worth waiting for Orprepus: ditto yahoo Buffy_04364: great won't have to go way over to the left monitor Buffy_04364: and chart properties colors? Buffy_04364: ]lost sound Buffy_04364: anyone else or me again drh_4: no sound Buffy_04364: tks Buffy_04364: hear you fine Ensign Software: sound now? Buffy_04364: howard disappeard drh_4: yes drh_4: no howard Buffy_04364: is the room in focus drh_4: i heard orp Orprepus: howard mic gone? Buffy_04364: this room has to be in focus also or will cut out Ensign Software: are you hearing now? drh_4: no Buffy_04364: no I take it the room is in focus Ensign Software: yes / no???? Buffy_04364: no Orprepus: no Ensign Software: room has focus, let me exit and reenter. serjac: no Buffy_04364: k Ensign Software: hear now? drh_4: yes Buffy_04364: yes bobh_1: yes serjac: yes SkipH: yes Buffy_04364: I forget to save many times too when doing that Howard. Very easy to do Orprepus: buffy - you got it? Buffy_04364: sorry haven't been here whole time Buffy_04364: I was late :-( Orprepus: howard I have it Buffy_04364: no that is where we lost you Buffy_04364: just saying they had been auto learning Buffy_04364: YAHOO GGriz: YAHOOOO Orprepus: yahoo too drh_4: thanks howard Buffy_04364: we appreciate it Howard serjac: Thank you Buffy_04364: those are some great changes howard Buffy_04364: please test thoroughly :-) Orprepus: Thanks you Howard & Kimball - looking forward to new features Buffy_04364: ditto Buffy_04364: you too Howard elly_34: thanks howard Buffy_04364: tk u 2 Kimball serjac: Thank you BOTH