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Indicators

Keltner_Chanel - indicator for MetaTrader 4

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16732
Rating:
votes: 6
Published:
2009.01.06 07:07
Updated:
2016.11.22 07:32

The codebase contains the Keltner Channel indicator

http://codebase.mql4.com/4150, but it doesn't conform the basic variant

that is described here:

http://www.forextimes.ru/article/a12177.htm

the suggested indicator:

-the base line is EMA20
-the stripes lines +/- ATR (Average True Range)
-the multiplier is 2.0

Advices:

The Keltner's idea is the creation of the floating lines of the support and resistance like Bollinger Bands.
That is why the period of the base EMA is equal to 20.
For the concrete charts you should pick up the coefficients of the stripes shifting. It is a fractional number.

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/8591

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