Watch how to download trading robots for free

Interesting script?
So post a link to it -
let others appraise it

You liked the script? Try it in the MetaTrader 5 terminal

votes: 25
2011.08.05 15:11
2016.11.22 07:32

Keltner Channel is volatility-based envelopes set above and below an exponential moving average.

The indicator is named after its author Chester Keltner who first described his system based on the 10-period moving average in his 1960 book "How to make money in Commodities".

The indicator consists of price envelopes or bands that are located above and below the exponential moving average by means of multiplying its value by the value of the Average True Range. The channels are surely quite interesting. Firstly, because they brilliantly join together two indicators: moving average and ATR.

Calculation method is as follows:

Keltner Upper Channel = MA (close, x) + (m * ATR (y))
Keltner Lower Channel== MA (close, x) - (m * ATR (y))


  • x - MA period;
  • m - coefficient;
  • у - ATR indicator period.

Indicator uses СMoving_Average class of the SmoothAlgorithms.mqh library. Working with this class was thoroughly described in the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".

  • SmoothAlgorithms.mqh must be placed in the terminal_data_folder\MQL5\Include\
  • Keltner_Channel.mq5 must be placed in the terminal_data_folder\MQL5\Indicators\

Keltner Channel

Translated from Russian by MetaQuotes Software Corp.
Original code:

Donchian Channels Donchian Channels

Donchian Channels is a volatility indicator based on the calculation of the current price range with using the recent highest and lowest prices.

Entropy Entropy

The indicator that demonstrates the power of price changes entropy.

CoeffofLine CoeffofLine

CoeffofLine indicator shows the most likely future price direction (2-3 bars).

Chande Momentum Oscillator Chande Momentum Oscillator

Chande Momentum Oscillator (CMO) is a technical indicator that attempts to capture the Momentum.