The Keltner Channel indicator determines the most significant trends. The indicator is based on the principles similar to the ones of Bollinger’s “envelope” and bands: the difference is the average true range is used here instead of the percents (“envelopes”) or the standard deviations (Bollinger bands). The upper line is calculated as the moving average plus the average true range for N periods. The lower line is the moving average minus the average true range.
As a rule, the upper line denotes the “overbuying” of the market and a big probability of a down-directed correction. The lower line corresponds the “oversold” market and denotes a big probability of the correction directed upwards.
MT4 Indicator Download – Instructions
Keltner Channel is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
Keltner Channel provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install Keltner Channel.mq4?
- Download Keltner Channel.mq4
- Copy Keltner Channel.mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
- Right click on Keltner Channel.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator Keltner Channel.mq4 is available on your Chart
How to remove Keltner Channel.mq4 from your Metatrader 4 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
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