Keltner indicator

Keltner Channel is a lagging indicator, belonging to the group of technical indicators that show price ranges, similar to Bollinger Bands. The Keltner indicator consists of 3 parts:median; top line; bottom line and is determined according to the following formula:

Keltner Channel indicator formula:

• Middle line = EMA(20)

• Upper line = EMA(20) + 2 * ATR

• Lower line = EMA(20) – 2 * ATR

Input Option

Period: Number of candles to calculate MA value

MA Mode: Select MA line type

Price Applied: Price is applied to calculate MA value

Channel Multiple: Multiplier to calculate Keltner's value.

Use ATR: Option to use ATR to calculate Keltner value.

ATR Period: Number of candles to calculate ATR value.

Feature

• Simple, easy to use

• There is a data buffer for use in GigaFactory.

Terms of use

• Use on the MT5 FXCE platform.

• This Indicator/EA is provided for free.

• All trading and exchange activities in any form are not allowed.

• FXCE not responsible If money is lost during use.

===========================================

 Download the latest version here.

- Copy file “*.ex5" to folder /MQL5/Indicators/

===========================================

Update version

1.0.1 — 2022-10-31

• Release the first version.