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Brilliant Keltner Channel MT4

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This indicator brings the Keltner channel based on the current timeframe, giving the consumer a choice of the type of moving average for calculations.

accessible kinds of moving averages:

  • Simple Moving Average (ma_mode=0)
  • Exponential Moving Average (ma_mode=1)
  • Smoothed Moving Average (ma_mode=3)
  • Linear-weighted moving average (ma_mode=4)
  • Tilson Moving Average (ma_mode=-1)

The moving average line is colored red or blue depending on the direction of motion from the last candle.

The user can optionally apply ATR channel band calculation or use standard deviation using a trusted worth

  • MaxBars: the highest number of candles to calculate.
  • MA_Period: the period of the moving average of the Keltner channel to calculate.
  • To use for mA: moving average modes
    • Simple Moving Average (ma_mode=0)
    • Exponential Moving Average (ma_mode=1)
    • Smoothed Moving Average (ma_mode=3)
    • Linear-weighted moving average (ma_mode=4)
    • Tilson Moving Average (ma_mode=-1)
  • MA_Price: the price for the calculation.
  • MA_Volume: the coefficient of volume when using the moving average of Tilson.
  • useatr: If true, ATR is used to calculate the Keltner channel boundaries. If false, the standard deviation is applied
  • confidencepercentage: the percentage by which the standard deviation is multiplied.
  • atr_period: the period for calculating the ATR.
  • atr_multiply: the coefficient by which the ATR value is multiplied.

[spoiler title=”Read More…”]

  • Simple Moving Average (ma_mode=0)
  • Exponential Moving Average (ma_mode=1)
  • Smoothed Moving Average (ma_mode=3)
  • Linear-weighted moving average (ma_mode=4)
  • Tilson Moving Average (ma_mode=-1)

[/spoiler]

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