Keltner Channel - MetaTrader 5 Script - MQL5 #13258 - MT4/MT5 Resources
Chester Keltner
This indicator shows the Keltner Channel - a classic technical indicator developed by Chester Keltner in 1960. It may look similar to Bollinger Bands.
It uses three chart lines: the middle line is a 10-day simple moving average of typical prices ((High + Low + Close) / 3), and the upper and lower lines are formed by the middle line plus and minus the moving average of the daily price range (the difference between the high and low). Therefore, it forms a volatility-based channel.
Input parameters:
Attachment download
📎 keltner_channel.mq5 (3.91 KB)
Source: MQL5 #13258
Keltner Channel - MetaTrader 5 Script - MQL5 #13258 Usage and Filtering Advice
Keltner Channel - MetaTrader 5 Script - MQL5 #13258 is a resource related to foreign exchange indicators. 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 on titles or short-term profit descriptions.
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