Keltner channel indicator is an indicator which is designed based on programmed principles which are used in Envelops and Bollinger bands. This indicator uses the average true range here. In this indicator, the upper band is set as moving average plus while the lower band is the moving average minus.
This indicator is designed for Meta trader 4 platforms. This indicator permits its users to detect different changes in market trend and dynamic changes in price that any trader cannot observe without indicators. Traders can also conclude and they can identify how the price changes.
About Keltner channel indicator:
The Keltner channel indicator creates price based on how unpredictable the cost of a specific money pair or exchanging resource is at a specific time. In the middle of these 2 value envelopes, an exponential moving normal stays there making the Keltner channels look especially like the standard deviation based Bollinger Bands. This indicator is a classical analysis tool designed by Chester W. Keltner in 1960.
This indicator measures price movements concerning upper and lowers moving average bands. This indicator is also a combination of two different indicators which are Exponential Moving Average and Average True Range indicator. This indicator is available for both Forex trading and binary trading. The exponential average indicator helps to track the price of an investment over time.
Keltner channel indicator is important for recent price data. The second indicator used for technical analysis that measures the volatility in the price range. Traders can use easily Keltner channel indicator to observe that levels shown on indicator are suggesting good opportunities or not. That is why this indicator shows three-channel lines central, upper and lower. One of them is used to point out potential breakouts and others are used as the median point. This indicator is very easy to use.
Like every indicator, Keltner channel indicator also has a specific pip. The specific pip of this indicator is 1.33417. this indicator also uses different colour schemes for its users so that they can easily understand the changes in the indicator. Colours used in this indicator are Green, orange, and blue.
The green colour is used for candlestick pattern while the orange colour is used for upper and lower channel lines and the blue line is used for median or central channel line. The upper orange line indicates the potential breakout in the market trend while the blue line acts as a median line. The lower orange line is also used to show a potential breakout in the market trend.
USES of Keltner channel indicator
Keltner Channel indicator has many uses. For traders, the developer of this indicator added two different strategies in this indicator which helps to understand clearly the market changes and variations. With the help of this indicator, different traders can observe different strategies in the indicator and they can see them in their trade.
This indicator is also used for potential breakouts. This indicator suggests good opportunities for traders. This indicator is a unique and advanced indicator of the time. it is very easy to use this indicator and to be benefited by this indicator.
• Keltner Channel indicator is used to indicate strength trend in the trade.
• Its calculations are based on moving average price.
• It is used to differentiate between trending and non-trending conditions.
• It helps to identify profitable trade.
• From the rise and fall of lines in the Keltner Channel indicator graph, the traders sense the price climax.
HOW TO INSTALL Keltner Channel indicator:
• First step: – Download the Keltner Channel indicator for Meta Trader 4 plateform.
• Second step: -Copy Keltner Channel indicator for Meta Trader 4. mql4 to your Meta trader Directory/experts/indicators/
• Start or restart your Meta trader 4 Client.
• Select Chart and Timeframe where you want to test your MT4 indicators.
• Search “Custom Indicators” in your Navigator mostly left in your Meta trader 4 Client.
• Right-click on Keltner Channel indicator for Meta Trader 4.mq4.
• Attach to a Chart
• Modify settings or press ok
• In the end, the Keltner Channel indicator for Meta Trader 4.mq4 is available on your Chart.
How to remove Keltner Channel indicator :
• First step: Select the Chart where is the Indicator running in your Meta Trader 4.
• Second Step: Right-click into the chart.
• Third step: Indicators list.
• At the last: Select the indicator and delete it.
These are simple and easy steps that you need to follow before starting trade because it gives you buy and sell zone indicator with almost 90% precision.
Ahead you are going to begin in real account trading you need to trade at the minimum for one month as a demo in any MT4 or MT5 brokers. It awards you more potential for getting quality payback in long or short term trading across also moving average.