Keltner Channel 2.0
Metatrader Indicator (MT4)
Kelter Channel is a technical indicator designed to find overbought and oversold price areas, using a exponential moving average and ATR. And it implements a particularly useful twist: you can plot the bands of a higher timeframe in the current chart.
- Find overbought and oversold situations
- Read data from higher timeframes easily
- The indicator displays data at bar opening
- The indicator is non-repainting
Trading implications are simple.
- Look for shorts when the price exceeds the upper bands.
- Look for longs when the price falls below the lower bands
- Dive into lower timeframes without losing values!
When loading the expert to any chart, you will be presented with a set of options as input parameters. Don't despair if you think they are too many, because parameters are grouped into self-explanatory blocks.
- Timeframe to calculate the keltner channel from
- EMA Period
- Moving average period to build up the channel
- ATR Period
- ATR Period to calculate the bands
- Multiplier 1
- Multiplier for the first band
- Multiplier 2
- Multiplier for the second band
- Multiplier 3
- Multiplier for the third band
- Does the indicator repaint?
- No, it does not!
- Can I see data from other timeframes?
- Yes, you can! Load the indicator and select a higher timeframe from the input parameters. You can, for example, see the H1 bands inside a M15 chart.
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