How Do You Use Keltner Bands MetaTrader 4 Indicator?
Keltner Channels Indicator Analysis Buy and Sell Signals
Developed by Chester Keltner. Described in his book 'How to Make Money in Commodities'
Keltner Channels are based on ATR indicator, Keltner Bands indicator uses ATR values to draw the Keltner bands lines.
These Keltner Channels form Channels that help to determine trends using this simple price volatility channel.
How Do I Add MT4 Keltner Bands Indicator in Meta Trader 4 Charts
Construction of Keltner Channels Indicator
Keltner Channels are similar to Bollinger Bands except for the fact that Bollinger Bands indicator use standard deviation method to determine price volatility and to draw the Bollinger bands.
For Keltner Bands indicator instead of using the standard deviation calculation - the average true range (ATR) measure of price volatility is used.
Keltner Channels indicator is an n number of price periods exponential MA of the closing price. These Keltner bands are created by
Adding (for the upper Keltner line) and
Subtracting (for the lower Keltner line)
An (n price periods simple MA of an n price period ATR) * an ATR multiplier.
How to Generate Buy & Sell Signals
Keltner Bands indicator can be traded in much the same way as the Bollinger Band indicator.
Continuation Signals
When price moves outside the Keltner Bands indicator then a continuation of the current trend is implied.
A forex buy signal is generated by the Keltner Bands indicator when the Keltner bands channels are moving upward.
A forex sell signal is generated by the Keltner Bands indicator when the Keltner bands channels are moving downward
Keltner Channels Indicator Continuation Buy & Sell Signals
Reversal Signals- Double Tops & Double Bottoms Patterns Combined with Keltner Bands Indicator
Tops and Bottoms made outside the Keltner Bands indicator followed by tops and bottoms made inside the Keltner Bands indicator indicate signal for trend reversals in the market trend direction.
Keltner Bands Indicator Reversal Signals
Range Markets
In ranging markets - a move on the Keltner Channels indicator that originates from one Keltner bands channel tends to go all the way to the other Keltner band channel.
How to Add MT4 Keltner Bands Indicator in Meta Trader 4 Charts
Step 1: Open MetaTrader 4 Software Navigator Panel
Open MT4 Navigator panel as shown below: Go to 'View' menu (click), then choose 'Navigator' window (click), or From Standard Tool-Bar click 'Navigator' button or press keyboard MetaTrader 4 short cut keys 'Ctrl+N'
On MT4 Navigator window, select "Indicators", by DoubleClick
How Do You Use MT4 Keltner Channels Indicator?
How to Add Keltner Bands MT4 Indicator
Expand the menu by clicking the expand button (+) or double click the 'indicators' menu, after this the button will appear as (-) and it will then display a list of MT4 indicators as shown below - choose the Keltner Bands technical indicator from this list of MT4 indicators so that you can add the Keltner Bands MT4 indicator on the MT4 chart.
How Do I Use MetaTrader 4 Keltner Bands Indicator?
How Install and Add Custom Keltner Bands Indicator on MetaTrader 4?
If the MT4 indicator that you want to add on the MT4 charts is a custom MetaTrader 4 indicator - for example if the Keltner Bands indicator that you want to add is a custom MT4 indicator you will need to first add this custom Keltner Bands MT4 indicator on the MT4 platform and then compile this custom Keltner Bands technical indicator so that this newly added Keltner Bands MT4 custom indicator appears on the custom indicators list on the MetaTrader 4 platform.
To learn how to add Keltner Bands indicators on MT4 platform - how do you add Keltner Bands indicator window to MT4 platform? - how do you add Keltner Bands custom indicator on MetaTrader 4? - How to add a custom Keltner Bands custom indicator on MetaTrader 4.
How Do I Use MT4 Keltner Channels Indicator?
