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- Views:
- 10276
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- Published:
- 2015.07.24 16:28
- Updated:
- 2016.11.22 07:32
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Real author:
Chester Keltner
The indicator shows the Keltner Channel — a classic technical indicator developed by Chester Keltner in 1960. It may look similar to Bollinger Bands.
It uses three chart lines: middle line is a 10-day simple moving average by typical prices ((high + low + close) / 3), upper and lower lines are formed by adding and subtracting the moving average of daily price range (difference between maximum and minimum) from the middle line. Therefore, it forms a channel based on volatility.
Input Parameters:
- MA_Period (by default = 10) — period of moving average (middle line).
- Mode_MA (by default = MODE_SMA) — type of moving average (middle line).
- Price_Type (by default = PRICE_TYPICAL) — price type for moving average (middle line).
Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/13258
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