Keltner Channel made in DRAW_FILLING style and displayed as a colored background filling.
Indicator input parameters:
//+-----------------------------------+ //| Indicator input parameters | //+-----------------------------------+ input Smooth_Method MA_Method1=MODE_SMA; // First smoothing method input int Length1=40; // First smoothing depth input int Phase1=15; // First smoothing parameter input Smooth_Method MA_Method2=MODE_JJMA; // Second smoothing method input int Length2=20; // Second smoothing depth input int Phase2=100; // Second smoothing parameter input int KeltnerPeriod=20; // Keltner smoothing period input double Ratio = 2.0; // First level ratio input Applied_price_ IPC=PRICE_CLOSE; // Applied price input int Shift=0; // Horizontal shift of the indicator in bars input int PriceShift=0; // Vertical shift of the indicator in points
The indicator middle line is made using the algorithm with two smoothings and a possibility to select each of these 2 smoothings out of the dozen of possible versions:
- SMA – simple moving average;
- EMA – exponential moving average;
- SMMA – smoothed moving average;
- LWMA – linear weighted moving average;
- JJMA – JMA adaptive average;
- JurX – ultralinear smoothing;
- ParMA – parabolic smoothing;
- T3 – Tillson’s multiple exponential smoothing;
- VIDYA – smoothing with the use of Tushar Chande’s algorithm;
- AMA – smoothing with the use of Perry Kaufman’s algorithm.
It should be noted that Phase1 and Phase2 parameters have completely different meaning for different smoothing algorithms. For JMA it is an external Phase variable changing from -100 to +100. For T3 it is a smoothing ratio multiplied by 100 for better visualization, for VIDYA it is a CMO oscillator period and for AMA it is a slow EMA period. In other algorithms these parameters do not affect smoothing. For AMA fast EMA period is a fixed value and is equal to 2 by default. The ratio of raising to the power is also equal to 2 for AMA.
The indicator uses SmoothAlgorithms.mqh library classes (must be copied to the terminal_data_folder\MQL5\Include). The use of the classes was thoroughly described in the article “Averaging Price Series for Intermediate Calculations Without Using Additional Buffers”.
MT5 Indicator – Download Instructions
X2MA KLx3 Cloud is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
X2MA KLx3 Cloud provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install X2MA KLx3 Cloud.mq5?
- Download X2MA KLx3 Cloud.mq5
- Copy X2MA KLx3 Cloud.mq5 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on X2MA KLx3 Cloud.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator X2MA KLx3 Cloud.mq5 is available on your Chart
How to remove X2MA KLx3 Cloud.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Click here below to download MT5 Indicator: