Are you looking to enhance your trading strategy? The Keltner Channels Set is a powerful tool that goes above and beyond the standard Keltner Channel indicator, providing you with a more detailed picture of asset behavior.
This indicator comes in two variations, each designed with different levels to suit a variety of trading scenarios. Whether you’re day trading or swing trading, you'll find this setup useful.
What sets this indicator apart is its advanced smoothing capabilities. You have the flexibility to choose from a range of averaging methods, including:
- 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 - Tushar Chande's Smoothing Algorithm;
- AMA - Perry Kaufman's Smoothing Algorithm.
It's important to note that the parameters for Phase1 and Phase2 vary significantly depending on the smoothing algorithm you choose. For instance, with JMA, the Phase variable ranges from -100 to +100, while T3 uses a smoothing ratio multiplied by 100 for clarity.
The Keltner Channels Set leverages the SmoothAlgorithms.mqh library classes, which you’ll need to copy into your terminal_data_folder\MQL5\Include directory. If you're curious about how to effectively use these classes, check out the detailed article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".
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