Keltner Channel (MetaTrader indicator) — is a classical technical analysis indicator developed by Chester W. Keltner in 1960. The indicator is somewhat similar to the Bollinger Bands and Envelopes. It uses three plot lines: the middle line is the 10-day simple moving average applied to the typical price ((high + low + close) / 3), the upper and the lower bands are produced by adding and subtracting the moving average of the daily price range (High and Low difference) from the middle line. This way, a volatility-based channel is built. In this version of the indicator you can modify all the parameters of the MA. The indicator is available both for MT4 and MT5 versions of the platform.

Input parameters

  • MA_Period (default = 10) — the period of the moving average (middle line).
  • Mode_MA (default = MODE_SMA) — the mode of the moving average (middle line).
  • Price_Type (default = PRICE_TYPICAL) — the applied price of the moving average (middle line).

Example and strategy

Keltner Channel Indicator Example MetaTrader Chart

The classical strategy with this indicator is to go long when the price closes above the upper band and to go short when it closes below the lower band. It seems to be a rather viable entry system. The exits can be based on three components: a very conservative stop-loss (as you see on the chart, false signals are not uncommon), some rather distant take-profit, and a cross with the middle line. Some traders also suggest using other indicators for confirmation.

Downloads (ver. 1.01, 2022-03-08)

Keltner Channel for MetaTrader 4 in .zip

Keltner Channel for MetaTrader 4 in .mq4

Keltner Channel for MetaTrader 5 in .zip

Keltner Channel for MetaTrader 5 in .mq5


Warning! If you do not know how to install this indicator, please read the MetaTrader Indicators Tutorial.

Do you have any suggestions or questions regarding this indicator? You can always discuss Keltner Channel with the other traders and MQL programmers on the indicators forums.


1.01 - 2022-03-08

  • Improved indicator's inputs and looks control in the MT4 version.

© 2005–2022

Design — Mart Studio

Forex trading bears intrinsic risks of loss. You must understand that Forex trading, while potentially profitable, can make you lose your money. Never trade with the money that you cannot afford to lose! Trading with leverage can wipe your account even faster.

CFDs are leveraged products and as such loses may be more than the initial invested capital. Trading in CFDs carry a high level of risk thus may not be appropriate for all investors.