Keltner Channel New
- Indicators
- Version: 1.2
- Updated: 21 March 2023
- Activations: 5
The Keltner channel is based on fluctuations, with a box shape set above and below an exponential moving average.
The author of this indicator, Chester Keltner, first described his system based on the 10-cycle moving average in his 1960 book "How to make money in Commodities", and later named this indicator.
This indicator consists of a price box or band type, located above and below the index average, and is multiplied by the value of the Average True Range (ATR). This passage is really very interesting. First, because they excellently combine two indicators: the moving average and ATR.
The calculation method is as follows:
Keltner upper channel=MA (close, x)+(m * ATR (y))
Keltner lower channel==MA (close, x) - (m * ATR (y))
Here:
MA_ Period - Mean MA Period;The common value is 100;
MA_ MODE - Average line mode, default EMA;
ATR_ Period - ATR indicator period;
Price_ Type - Average line type Close Price;
Multiply 1 - Brown inner loop coefficient;
Multiply 2: White outer loop coefficient
Keltner_ Channel.ex4 must be placed in the client folder MQL4\Indicators\
