What is Keltner Channels?
The MT5 Keltner Channels package draws an exponential moving average (EMA) and two surrounding channel lines. The package uses ATR-based width and provides three plotted lines for the overlay.
The chart is intended for reviewing price location relative to the middle line and the displayed upper and lower boundaries.
How to use Keltner Channels
Compare the three lines with recent candle ranges and note whether the channel is widening or narrowing. The visual width is determined by the configured period, averaging method, ratio, and applied price settings.
Use KeltnerPeriod and MA_Method_ to review a different averaging configuration. Ratio changes the channel width, IPC selects the applied price, and Shift changes the horizontal chart position.
Where it helps
The package uses an exponential moving-average configuration for the central line.
Ratio provides a control for the distance between the plotted lines.
The table records the exact names and defaults from the MQ5 file.
MT5 Indicator Parameters
The table below lists the available MT5 indicator parameters. You can customize these options in the MetaTrader Inputs dialog to match your trading preferences.
| Parameter | Description |
|---|---|
| Keltner Period | Sets the period of the averaging calculation. Default: 20. |
| Moving Average Method | Selects the moving-average method. Default: MODE_SMA. |
| Channel Ratio | Sets the ratio used for channel width. Default: 1.0. |
| Applied Price | Selects the applied price used by the indicator. Default: PRICE_CLOSE_. |
| Horizontal Shift | Sets the horizontal shift of the indicator in bars. Default: 0. |
The screenshot above shows the default input parameters in the MT5 settings window.
How to Install .ex5 Indicator in MetaTrader 5
- Download the ZIP file and extract it.
- In MT5, select File → Open Data Folder.
- Open MQL5 → Indicators and copy the EX5 or MQ5 file into it.
- If the package includes library files, copy them to MQL5 → Libraries. Copy TPL files to the top-level templates folder.
- Restart MT5, find the indicator in the Navigator, and drag it onto a chart.
Test the tool on a demo account first. File contents and required folders can vary between packages.
