Modified Keltner Channel - MetaTrader 5 Script | Forex Indicators Download - MT4/MT5 Resources
The indicator draws Keltner Channel and can be calculated using SMMA, EMA and LWMA. Channel boundaries are calculated based on High-Low or ATR.
The smoothing period for the centerline and channel boundary lines is also configurable.
It has six input parameters:
Attachment download
📎 customizable_keltner.mq5 (17.89 KB)
Source: MQL5 #19825
Modified Keltner Channel - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
Modified Keltner Channel - MetaTrader 5 Script | Foreign Exchange Indicator Download - MT4/MT5 resources are foreign exchange indicator related resources. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based only on titles or short-term profit descriptions.
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