iForex indicators.com

Forex indicator ATR Channels also known as Keltner's channels is one of the most interesting “channel indicators”

, which are based on ATR.

Indicator ATR Channels builds channels of price movement, given the ATR (Average True Range).The indicator accurately shows the moments of acceleration and deceleration trend, as well as overbought and oversold areas in terms of average true range.
The center of the ATR Channel is defined by an Exponential Moving Average of the closing prices using a number of days defined by the parameter Close Average Days. The top and bottom of the ATR Channel are defined using a fixed-multiple of ATR from the moving average specified by the parameter Entry Threshold.

ATR Channels.mq4
Copyright © 2005, Luis Guilherme Damiani
http://www.damianifx.com.br

Attachments:

ATR Channels.mq4

[ ]

1 Kb