Keltner Channel - MetaTrader 5 Script - MQL5 #31882 - MT4/MT5 Resources
Keltner Channel indicator with multiplier and two methods of calculating boundaries:
By Average Candlestick Size Average ATR Indicator Data
The Keltner channel can be used as a standalone indicator or as an initial data source. An example is the most popular "Squeeze Momentum Indicator" published on Tradingview.com. The translation of "Squeeze Momentum Indicator" from Pine to MQL 5 was done by me.
Attachment download
📎 keltnerchannel.mq5 (12.12 KB)
Source: MQL5 #31882
Keltner Channel - MetaTrader 5 Script - MQL5 #31882 Usage and Filtering Advice
Keltner Channel - MetaTrader 5 Script - MQL5 #31882 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 only on titles or short-term profit descriptions.
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