Forex Keltner Channel Indicator is a classical technical analysis indicator developed by Chester W.Keltner in 1960.I uses three plot lines : the middle line is the 10-day simple moving average applied to the typical price(high+low+close)/3),the upper and lower bands are produced by adding and subtracting the moving average of the daily price range (High and Low difference)from the middle line .This way,a Volatility-based channel is built.In this version of the indicator you can modify all the parameters of the MA.
Trading Signals:
Buy :When the price closes above the upper band
sell :when the price closes below the loweer band
Indicator Preference:
Currency pairs: any
Time frame: 15,30,H1,H4
Trading sessions:any
Configurable Indicator Options:
TimeFrame(0),Length(18),MA_Type(0),Shift(0),Price(0),TimesATR(2.0)
Example:EUR/USD-H1
How to use a custom indicator on your charts:
Step1: Dowload the mq4 file into your c:\Prom File\Meta Trader4\MQL4\Indicators
Step 2: Open your MT4
Step 3: Locate the Navigator Panel.
Step 4: On the Navigator ,find custom Indicators .
Step 5:Click Custom indicators ,and you should see your newly installed indicator.
Step 6:Double click the indicator and the Indicator Properties window will appear.
Step 7: Click OK.
Free Download:
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