This Trading Indicator is Incredible (Detects snapbacks AND major moves)
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- Опубликовано: 31 июл 2023
- Learn the top 3 trade setups we are using on the desk here: tinyurl.com/3m9ma3yt
GARRETT TWITTER / garrettdrinon
#tradingindicators #tradingstrategy #daytrading
SMB Disclosures www.smbtraining.com/blog/smb-...
SMB WORKSHOP: tinyurl.com/3m9ma3yt
GARRETT'S TWITTER twitter.com/GarrettDrinon
I like Garrett’s style of teaching a lot. You can clearly see how passionate he is about trading.
Garrett is a fantastic educator and I could listen to him for hours. Always very clear in his videos and easy to follow explanations of crucial concepts! Great video!!!
He's got surf vibes bra
In response to Garret's request for comments on ATR/Keltner use: I tweak the length of moving average for each particular ticker to match the price curve as close as possible (as it would be done in statistical regression analysis and classic smoothing of a data set to create an approximating function that attempts to capture specific historical pattern).
i am so glad I started watching the SMB videos. You guys are great and provide a lot of information for us to follow up on.
Garrett, you showed two settings for daily charts, one 21 and 4, the other 50 and 8. But I didn't catch any distinction about the purpose behind the two different settings on the same time frame.
I assume the daily chart with the short time frame settings is for your intraday charts, the 2m or 3m chart or whatever time frame you trade on and the longer settings is for the 1y1d. I asked the same question but didn't get a response.
This is my 3rd time watching this video and I have to say that Garrett hits on so many points here that resonate with everything Ive learned from SMB over the years. Garrett, you are the man. I really appreciate your videos. You show me frameworks and tools to use. Its hard to express how grateful I am to be able to listen to you speak about trading. I greatly appreciate you taking the time to share this with the community.
8 yrs experience. Wish I could have listened to Garret when I first started!
Great video! I’m glad to see Keltner channels getting some love. I personally use them for scalps on the one minute timeframe when I’m trading an uptrend to look for an exit at the top of the move.
SMB is the best channel for traders, no doubt. Thank you guys🙏👏
Yes i like this one ,you can optimize the indicator by adjusting the parameters(like you said) or adding additional filters trend confirmation indicators...
Awesome Garrett. Please do more videos that covers ATR. Thank you again.
Yes finally a great explanation of using of volatility based indicator for mean reversion trades within the context of the big market moves, economic news cycle etc
Garrett is the best! 🐐
One of the best educational videos I have ever seen. Hope to learn more from him and SMB. Thank you!!!
So many good nuggets of information in here. Excellent instructor!
Yes, please due a Total ATR video and how you use all! Would be very useful
One other question .
For daytrading, have you come up with a series if indicators or algos that can help provide a Trade NOW filter to now let system trade.
Things I think about are,
1. Tick speed of market to show trades coming in more quickly
2. Block and trade size as part of this.
This would be a "final filter" assuming all other conditions in ones system has been achieved such a price level relative to S/R, momentum indicators in positions...entry triggers have fired but waiting for this final filter condition to go +1; expecting the poaaiblilty that this is going to a decent move off last pivot regardless of type of trade, continuation, mean reversion; breakout etc.
I have some great systems but haven't got this last one figured out yet so I can backtest the ide and worward walk it...thanks! Rod...
Garrett, 10 stars...first, you cleared up some muddy waters for me as reading Linda Bradford Rasche's books are great, and improved when you show applications in your video...then you used your tools, NOT just mouse movements, (fantastic choice by you and great for the student, highlights on the subject item) making comprehension smooth and easy...and like others have hinted here, you, unlike others, must have had an outline, including potential student questions, as you provided a very orderly solidly designed curriculum...and I bet this also helps your own trading too! Most grateful, keep it up, and if you and Jeff decide to collaborate again, if past is prolog, I will enjoy another ecstasy learning day, thanks
Thank you so much Garret your education was phenomenal and much appreciated I hope you make more of these types of videos such fantastic information for new students like me
you’re welcome! glad you enjoyed
Thank you so much for this video. It was much appreciated!
Garrett, my gratitude and thanks for a very clean and clear presentation of Keltner channels, I know more about them now to make more effective use, and it is because you obviously cared about your work and I must assume, you planned this out , had a good outline guiding you and we who appreciate good , no very good teachers, appreciate what you did here, thank you, please choose any other analysis tool you enjoy using and have at it , I will wait till its ready, your worth every minute!
thanks for the kind feedback! i do care, so i’m glad to hear it comes across clearly
Fantastic stuff. Love Garrett's lessons.
Thanks, Garrett, these explanations are very helpful and practically useful.
Thanks SMB and Garrett.
you’re welcome!
I loved this Video guys. Sometimes it takes hearing something multiple times then you hear it said in just a certain way and it clicks. This is going to benefit my trading strategy alot. Thank you
Great video! I’ve used keltner in squeeze, but you have given me a whole new perspective on it! Yes, would love to see more along these or similar lines!
I'm a newbie just learning the basics. SMB is helping me level up with videos like this, thank you.
I was like yes please go on about ATR's, I want to learn more. He's a good teacher.
It would be great to have ATR to standard deviation converter indicator programmed.
always have to do it manually
Great explanation. Loved the video. Ty
Thanks Garrett! Great info. Yes definitely more ATR content!
glad you enjoyed! and yes more ATR sounds like a good idea
Yes please more ATR Videos will be great . Thanks
Great video with excellent explanation. Looks like it will be a GREAT help for me!
Another awesome video from Garrett and SMB!
glad you enjoyed!
Yes, please more videos on how you use ATR, standard deviation, IV & HV. Thank you 👍🏿
Thanks, Garrett, your explanations of the ATR and Keltner channels are very helpful ! :o)
What I like to do when playing around with my custom indicators, is combine the keltner channels with the Bollinger bands. So I have an indi that takes the highest of the 2 (sometimes the bollinger band is too much contracted to my taste, so it takes whatever min ATR I put in for the Keltner value). Or sometimes, just to avoid the contraction part of discussed at 22:35, I just put a minimum of % from the mean, to avoid the cases when the Keltner channels are too narrow.
Also played around with multiple "bands", of 2, 4, 6 ATR, etc. Playing around with Keltner channels is fun! :D
interesting idea!
Nice idea. Is the indicator available for others. Willing to pay for it
awesome and simple way to explain atr thank you!
you’re welcome, glad you enjoyed!
I prefer watching Garrett teach without the frustration of another trader interrupting him (in another SMB video ... was not amusing but distracting and annoying). He is amazing!!
great video, thanks!
Super helpful! Thank you!
Great video as always - thank you! I use ATR everywhere; in my scans, in my watchlist, on my charts. This morning I was choosing between 2 stocks that had similar price action - I chose the one with higher ATR. I never knew ATR was used in Keltner bands - I tried them this morning and found it very useful while following AMD make it's crazy 9 point dive.
awesome
Hey, thank you very much for the information you are giving to us, it seems really valuable compared to what we usually have on the internet. Just one question comes to my mind, which tools are you using to do your analysis. It seems like I can never find everything I need at the same time or in an easy way…
Loved this video! More ATR!!
Loved the part about breaking out of a tight contracting Keltner channel and hitting the upper band being a sign of strength.
Thank you
Great teaching. Much appreciated.
really glad you enjoyed
Great video Garrett, thank you to share your experience. Do you have some valuable books to suggest regarding indicators?
Thanks Garrett
SMB and DR Brett S for the win!! Can't thank your team enough
Hey guys, thank you for this fantastic webinar. Could you find good working settings to use the KC for quick, profitable scalps? Especially in indices/commodities or FX like Cable, GBPJPY, or EURUSD? For example, combined with the 50 and 110 EMA on the 1 and 5-minute timeframe. I would love to quickly exchange information with Garrett.
Best regards, and thanks for sharing all this knowledge!
Outstanding…thank you
God bless you, such good teacher.... It's Like listening to a book❤❤❤❤
For your example, I would also short the trade based on the wide gap at the opening. Gaps are meant to be filled sooner or later.
Thank you SMB Capital for providing free training material
Great jacket on Mike today 👌
Very interesting, thanks
So, I already watched the video on the Bollinger band squeeze. Is it better to use the ATR & upper & lower bands of the Keltner Channel to look for bounces instead of attempting to draw correct areas of Support & Resistance?
Thanks for sharing your knowledge of how to use ATR! Great explanation. You just taught me a new language how many ATR the stock moves instead of dollars amount! One question, you listed two different settings on the daily chart, which one do you use for what context(length 21, ATR 4 vs length 50, ATR 8)?
you’re welcome! i typically use the 50 8 setting on the daily chart…the 21 4 really on any timeframe
Awesome! Understood the perspective you wanted to share vis a vis ATR based Keltner Channel... Loved the video and started to study the same on my charts. Thanks a lot.
As he said, the entry is when price follows the bands either up or down, if you're trend trading. As condition for algos, the price should be within a limit from the bands and the band and the EMA should point in the same direction. Reversal trading is much more difficult, since the trend can continue against you. As for breakouts, the periods with low volatility is when the big banks accumulate positions, so just wait and see the direction of the breakout and follow. To reveal the levels where they accumulate, use the volume profile. They cannot hide the volume...
Great explanation, it would be great if you can make a video on using ATR for indices like s&p 500 for intraday. Thanks for sharing 🙏
Great video - I am going to combine this indicator with a Williams % R or RSI overbought/oversold design a fully automated trading system for reversals. Thanks.
Awesome video
Also, on the keltner channel settings you have a "average type" & "true range avg type," are both those set to exponential or just the avg type set to exponential?
how did u come up with your settings. Do u change the setting for each timeframe you use. Espcially the 78ema /10 for 5 min thx
Thanks for your excellent insights, delivery and enthusiasm. I was trying to differentiate what the keltner channels measure as compared to the bollinger bands. Is there a distinction? Well done, once again.
they both aim at solving the same problem with different approaches, mainly one using ATR to do it and the other using standard deviation. Bollinger band responds much more dramatically to changes in volatility so i find the keltner is more stable
thanks! and yeah, it really comes down to atr vs standard deviation… which creates slightly different characteristics of the bands
Great video! Yes, do more ATR videos.
you got it!
thank you
you’re welcome!
It sounds like you are primarily using Keltner channels as a take profit signal (overextended),
yet it seems the original use case described by Keltner is to use the upper band as a breakout signal, and lower band as a breakdown signal.
I suppose it makes sense to use the channel to trade within ranges, but mixing the idea with trading along trends feels like a setup to cut winners short
Just came across this video and am going to add this indicator on my charts for some back testing. I see your settings has 2 daily settings, one for the 1Y1D chart and one for intra day chart. I'm assuming the 50/8 setting is for the 1y1d chart and the 21/4 is for your intraday chart. What time frame are you using on intraday? 2 or 3 mins or something else? Also, I understand the exponential MA on shorter time frame charts but are you using a simple MA on longer time frame charts or just using exponential on all time frames shoter and longer? I was taught to use EMA's on shorter time frame MA's such as the 9 and 20 for example and the simple on 50 100 & 200. So I was wondering if I were to set the channels the same way with the EMA on the 2 or 3 min intraday and 5m & 15m but the SMA on the 1y1d. Or just as all Exponentials on all charts? Thank You! Love your channel and insight on all the indicators.
curious if you have had any experience with standard error bands compared to keltner
Linear Regression bands do the same job, when price jumps out know that it will come back to MA soon
i want to see more Garret videos please
Hey, just wanted to say thank you for this great content. SMB is a great channel that covers a plethora of knowledge. Nevertheless, are the ones I most enjoy watching. In your different KS set-ups, the length parameter refers to the MA/EMA lengths or the look back period of the ATR average? Should both lengths be aligned? Thx
it refers to both lengths
however, if you’re using a very short EMA i’d recommend using a much longer period to calculate the ATR
This is excellent
Amazing
Mike B with the MF FASHION STATEMENT THO. Nice jacket !!!!!!
Faherty Brand. I am calling it Jersey Shore cool...
is there a way we can create an intraday scanner on TOS? For example 5min time-frame (Price>$15, Volume>=1,000,000, Keltner ATR factor 10 and length 78). when stock touches upper-band of Keltner then scanner pops-up with that ticker.
yes you can set alerts with inducators, you can also create a metric like “how far from kektner” and have that as a column in a watchlist and sort by that column
Yes please more about atr
is there a good book that covers a bunch of indicators and goes somewhat in depth with each one
Great video .. my question in my trading software I only have two parameters to adjust “ period 1” and “period 2” how would I apply your settings in my case
i’m assuming one period is for the moving average and the other is for the atr… there should also be an atr factor or multiplayer…
15:30... two dailies, id assume ones either a weekly or a 4h... ?
no, two alternate daily settings, although the 21 4 setting i’ll use on any timeframe really
@@garrettdrinon thank you for the response!!!!!
Thank you for educating us. Can u do videos and uses of ATR?
yes we can!
Looks and sounds good
What difference with the Bollinger Bands? It looks pretty much the same.
How is different or similar to trading respecting Bollinger Band lines?
Thanks for the great indicator! Would you mind to put the details for those two books that you mentioned in the video?
Linda Raschke - Trading Sardines
Adam Grimes - The Art and Science of Technical Analysis
What is the difference between Keltner channels and Bollinger bands top and bottom?
What is the difference between Keltner and Bolinger bands
ATR vs standard deviation
It seems that the bottom daily chat setting should be the weekly, right? at 16:00
both are alternate daily chart settings i use but the 21 4 setting is interchangeable with all timeframes
QQQ daily chart ATR is 4.81,
Keltner channel (21,4) mean is at 391.06
Current QQQ price is 405.34.
QQQ is 2.96 ATR extended from the mean ???
Please help to confirm if my calculations are correct....TQ very much :)
Please do more videos on ATR! Great video 🤙🏽
Next video from Garrett will be on ATR
Pretty similar to Donchian channel (high/low within a period) and Bollinger band (standard deviation), not much difference, only minor mathematically. I will never use one of them, because other traders are using them ;-) It is better to use ATR even when it is lagging (like all the bands are too).
what platform is this ???
Can you compare this to the Bolingbrook bands in regards to trader view? Or the perspective is different
bollingers which are based on standard deviation accomplish a very similar goal - i find them more dramatic and less stable than keltners
Hello as I mainly trade off the 30 minute timeframe what settings would you use for the Keltner Channel for that timeframe?
it really depend on your moving average…
21 period, 4 atr works great on any timeframe
if you want a longer average, say a 5 day moving average on your 30 minute chart, you could use something like a 65 period, 9 atr setting - this would be just about the same as my 15 minute setting
@@garrettdrinon Thanks alot
Great job. I do a lot of day trading. What would you recommend for a 2 minute chart For L and ATR multiplier? Hope you do more in the future. Wonderful lesson. Thanks!
glad you enjoyed! for 2 min chart i use 34 period and 6 ATR for big picture but use a 21 period 4 ATR on any timeframe for faster picture
@@garrettdrinon thanx again
How is the KC different from BB ???
atr vs standard deviation - and that creates some different characteristics in how they act
The keltner and Bollinger bands are ineffective in ranging markets though! You gotta take the training wheels off to actually learn how to trade
I don’t understand how this is different from bollinger bands or standard deviation indicators.
Sir i have some confusion regarding inputs i trade on 15mins chart
what’s up