The Keltner Channel is a versatile trading indicator that traders often rely on for market analysis. It features a multiplier and offers two methods for calculating its boundaries:
- Averaging the size of the candle bodies
- Using the Average True Range (ATR) data
This indicator can stand on its own, but it’s also a fantastic starting point for other tools. A popular example is the Squeeze Momentum Indicator, which you might have come across on TradingView. I’ve even translated its Pine script into MQL5 for those who are keen to use it on MetaTrader 5.
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