The channel is based on the prices extreme values for a period. Central line, upper and lower channel borders values are determined by calculation of the Pivot Points used as assumed support and resistance levels.
This indicator was first implemented in MQL4 and published in CodeBase at mql4.com 08.02.2008.
Keltner channel - indicator MetaTrader 5 Keltner channel indicator with a multiplier and two ways to calculate the boundaries: Â Â Â Â By averaging the candle body size…
