The Keltner Channel, a traditional technical analysis indicator created by Chester W. Keltner in 1960, is one of two indicators that make up the Keltner Channel method. The indicator looks similar to Bollinger Bands and Envelopes. The upper and lower bands are made by adding and subtracting the daily price range’s moving average (High and Low difference) from the center line. The middle line is a 10-day simple moving average applied to the normal price ((high low close) / 3). This develops a channel based on volatility. In this variant of the indicator, all of the MA’s settings are programmable. Only the MT5 platform has the indication.
This whole method includes an additional custom indicator I created called the Keltner support to aid you in making better entrances and exits. The conventional MT4/MT5 indications are not used by the Keltner assistant, which is a completely original indicator. It shows the weighted trendline in a separate window of the graphic. Basic entry and exit notifications can be made using it. The indicator is only compatible with MetaTrader 5.