The indicator draws the Keltner Channel, which can be calculated using SMMA, EMA and LWMA. Channel borders are calculated based on High-Low or ATR.
Smoothing periods for the central line and channel border lines are also configurable.
It has six input parameters:
Number of the periods to smooth the center line – central line smoothing period;
Number of periods to smooth deviation – channel borders smoothing period;
Factor which is used to apply the deviation – multiplier for expanding channel borders;
The center line applied price – price used for calculating the central line (any of seven standard prices);
The center line smoothing method – smoothing method (EMA, SMMA, LWMA);
Variation Method – channel borders calculating method: High-Low or ATR. If ATR is selected, the Number of periods to smooth deviation parameter will be used for the ATR period.
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…
