Big Keltner Channels MT4
- Indicators
- Version: 1.0
- Activations: 20
Big KC — Keltner Channel panels for multiple timeframes
Big KC displays Keltner Channels for up to four timeframes at once, in a compact panel placed directly on your price chart. There is no need to switch charts or open extra windows: volatility and direction of several timeframes are visible at the same time. Every timeframe has its own channel settings.
MetaTrader 5 version: https://www.mql5.com/en/market/product/207053
How it works
The indicator draws a single panel on the chart that contains up to four mini-windows. Each mini-window belongs to its own timeframe and shows the latest candles of the current chart symbol together with three Keltner Channel lines: upper, middle and lower. When all four timeframes are enabled, the windows are arranged in a 2x2 grid; otherwise they are stacked in one column. The panel size adapts automatically to the chart and screen resolution, or can be set as a percentage of the chart width. The data is refreshed every second.
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You can drag the panel by its header and collapse it with the button on the right side of the header. The position and state are remembered separately for each chart.
What the data on the panel means
- Label to the left of a window (for example 15, 30, 1H, D) — the timeframe of that window.
- Candles — the latest bars of that timeframe. The color shows direction: one color for bullish candles, another for bearish ones.
- Upper channel line — the upper boundary. Price at or beyond it signals strong upward movement.
- Middle line — the center of the channel. Its slope shows the trend direction, and the position of price relative to it shows whether buyers or sellers dominate.
- Lower channel line — the lower boundary. Price at or beyond it signals strong downward movement.
- Channel width — reflects current volatility. A widening channel means rising volatility, a narrowing one means a quiet market.
- "Big KC" header — the area used to move the panel; the [-] / [+] button collapses and expands it.
How a trader can use it
- Define the overall direction. Watch the slope of the middle line and the position of price relative to it on higher timeframes, and look for entries on lower ones.
- Gauge the strength of a move. Candles closing outside the channel point to a strong impulse; a return of price inside the channel suggests the impulse is fading.
- Trade from the boundaries. When the middle line is flat, touches of the channel boundaries can produce pullbacks toward the center.
- Spot squeeze periods. A narrowing channel on several timeframes often precedes a rise in volatility and a new move.
- Look for timeframe agreement. When several windows show the same picture, for example price above the middle line in all of them, the signal looks more reliable than when the timeframes disagree.
Settings
Position & size
- Panel size (% of chart width, 0 = auto) — panel width as a percentage of the chart width. 0 enables automatic sizing for the chart and screen.
- Initial offset from the right edge — starting distance from the right edge of the chart, in pixels.
- Initial offset from the top — starting distance from the top edge of the chart, in pixels.
- Bars per panel — how many of the latest bars are shown in each mini-window.
Appearance
- Show panel titles — show timeframe labels to the left of the windows.
- Show candles in panels — show candles in the windows. When off, only the channel lines remain.
- Candle transparency (%) — candle transparency. 0 means fully opaque.
- Bull candle — color of bullish candles.
- Bear candle — color of bearish candles.
- Upper channel color — color of the upper channel line.
- Middle line color — color of the middle line.
- Lower channel color — color of the lower channel line.
- Text color — color of the panel text.
Timeframe 1 — Timeframe 4 (identical settings for each window)
- Show timeframe N — enables or disables the window. Disabled windows take no space and the rest are rearranged.
- Timeframe — the timeframe of the window.
- EMA period — period of the channel's middle line. The larger it is, the smoother and slower the middle line.
- ATR period — period of the volatility measurement that determines the channel width. The smaller it is, the faster the channel reacts to changes in volatility.
- ATR multiplier — channel width multiplier. The larger it is, the wider the channel and the less often price leaves it.
