Ultimate Channel
A Keltner-style channel using UltimateSmoothers for both the center line and the volatility range to minimize lag.
Usage
Use as a dynamic price channel whose width scales with the current dominant cycle amplitude, providing adaptive support and resistance levels for breakout trading.
Background
The Ultimate Channel uses the measured dominant cycle amplitude to set channel width, analogous to Keltner Channels but cycle-aware rather than ATR-based. When price breaks beyond the channel boundary, it signals that cycle amplitude has expanded enough to suggest a genuine directional move.
Parameters
length(default: 20): Center line smoothing periodstr_length(default: 20): Smooth True Range (STR) periodnum_strs(default: 1.0): Channel width multiplier
Formula
[ TH = \max(High, Close_{t-1}) ] [ TL = \min(Low, Close_{t-1}) ] [ STR = UltimateSmoother(TH - TL, STRLength) ] [ Center = UltimateSmoother(Close, Length) ] [ Upper = Center + NumSTRs \times STR ] [ Lower = Center - NumSTRs \times STR ]