The Keltner Channel with alert Forex indicator for Metatrader 4 can be used for rapid trade entry and take profit.
The indicator works in exactly the same way as the classic Keltner Channel indicator.
Main difference: this version will send you trading alerts.
Buy & sell signal:
- A buy signal is given when the Keltner Channel bands with alert are sloping up and price touches the lower channel band.
- A sell signal is given when the Keltner Channel bands with alert are sloping down and price touches the upper channel band.
- Exit the trade at the opposite Keltner Channel band.
From our testings, the indicator does not repaint and works for any currency pair and time frame without slowing down the trading platform.
It can be used as a standalone technical tool or it can be combined with other technical indicators and trading strategies.
Try first on a demo account until you fully understand how this indicator works!
Indicator Chart Example
The picture above shows the indicator attached to the Euro / U.S. Dollar technical chart.
How to install the Keltner Channel with alert indicator to your Metatrader 4 platform?
- Download the keltner-channel-with-alert.mq4 indicator file here and save it to your computer
- Open your Metatrader 4 platform
- Click on “File” (top menu) and then select “Open Data Folder” from the drop down menu
- Click on “MQL4” and open the “Indicators” folder
- Paste the indicator file in this folder
- Restart Metatrader 4 and you’re ready to start using the indicator
How to edit the indicator?
- Attach the indicator to any trading chart of your preference
- Right click in the chart and select “Indicators List” from the drop down menu
- Select the indicator from the list and click on “Edit”
- Now you can start editing the indicator (Inputs, Colors and Visualization)
- Final step, click on the “OK” button to save the new configuration