Indicators: Keltner Channel

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Keltner Channel:

The Keltner Channel indicator locates the most important trends.

Author: Collector

 

From https://www.mql5.com/en/code/8445 download I now have D:\FXCMMetaTrader4\MQL4\Indicators\keltner_channel.mq4

Unlike TradeStation, I see no way to Import this custom indicator. HELP!

Built-in HELP and external MT4i_interactivemarkets.pdf walk around the subject.

I like Keltner Channel in SierraChart.

Keltner Channel
Keltner Channel
  • votes: 1
  • 2006.07.13
  • Collector
  • www.mql5.com
The Keltner Channel indicator locates the most important trends.
 

The bit about close and restart was not obvious, nor needed on some other programs I have tried.

This version of K-channels lacks "shift", unlike the Bollinger bands.

Does any other version available here have that property?

Thanks.

How To Install Custom Indicators in MT4 Platform - tutorial | tradimo
  • 2013.06.08
  • learn.tradimo.com
If you want to install a custom indicator in Meta Trader 4. At first, close your MT4. Next, copy custom indicator into following directory: C:\program files\Meta Trader 4\experts\indicators. Open MT4 again, go to custom indicators in the left of MT4, drag your custom indicator to the chart.
 
scholar14:

The bit about close and restart was not obvious, nor needed on some other programs I have tried.

This version of K-channels lacks "shift", unlike the Bollinger bands.

Does any other version available here have that property?

Thanks.

Here is another one, with the shift, but without the source if you do not mind.
Indicators Optimized for Offline Charts
  • www.mql5.com
Join Date Jan 2010 Posts 145 Points 221 Credits 3,286 Post Thanks / Like vBActivity - Stats vBActivity - Bars Lv. Percent 49.39% Daily Activity 2.54%Weekly Activity 1.09%Monthly Activity 0.25% Indicators Optimized for Offline Charts This section should contain only indicators that are safe for use in offline charts. By safe I...
 
scholar14:

The bit about close and restart was not obvious, nor needed on some other programs I have tried.

This version of K-channels lacks "shift", unlike the Bollinger bands.

Does any other version available here have that property?

Thanks.

https://www.mql5.com/en/code/8591
Keltner_Chanel
Keltner_Chanel
  • www.mql5.com
that is described here: 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.
 

This indicator does not work.  If you calculate the ATR manually for any period and then measure the pip count from the lower to the upper band you will see that it's not calculating band distance correctly.

The Envelope calculation was an attempt to identify volatility envelopes based on a ratio.  It doesn't work well because people don't know how to select a good Deviation value and it needs to be adjusted daily.  The Deviation value then becomes a random selection that seldom gets updated.

The ATR was introduced as a means of calculating a self-adjusted Deviation based on price action and volatility. 

This code is missing the part that calculates the Deviation number based on the ATR value.

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