Keltner Channel Set - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources

This indicator uses many more Keltner Channels than the standard indicator Keltner Channel indicator.

This indicator shows the overall picture of the behavior of a financial asset in a more informative way. There are two variants of this indicator, with different levels for different use cases.

The indicator is built by using a universal smoothing with two averages, and each average can be chosen from a dozen possible variants:

It should be noted that the Phase1 and Phase2 parameters have completely different meanings for different smoothing algorithms. For JMA, it is an external phase variable that varies from -100 to +100. For T3, it is the smoothed ratio multiplied by 100 for better visualization; for VIDYA, it is the CMO oscillation period; for AMA, it is the slow EMA period. For AMA the fast EMA period is a fixed value, equal to 2 by default. For AMA, the ratio of raised powers is also equal to 2.

The indicator uses the SmoothAlgorithms.mqh library class (must be copied to the terminal data folder \MQL5\include). The use of the class "Average price series for intermediate calculations without using additional buffers" is described in detail in the article.

Attachment download

📎 smoothalgorithms.mqh (133.8 KB)

📎 x2ma_klx11.mq5 (16.12 KB)

📎 x2ma_klx9.mq5 (15.05 KB)

Source: MQL5 #475