The Keltner X2 Channel Extreme Signal indicator for Metatrader 4 draws the Keltner bands on the chart and provides extreme buy/sell signals.
The indicator appears on the main chart as two outer bands and a middle band and draws colored extreme buy and sell signals.
A buy signal occurs when price exceeds the outer upper Keltner band while a sell signal occurs when price exceeds the outer lower Keltner band.
It can be used as a breakout technical indicator.
General Information
- Based on Keltner bands
- Extreme buy/sell signals
- Easy to trade with
- Works for any trading instrument
- Does not repaint
- Developed for Metatrader 4
Free Download
Download the keltner-x2-mtf-tt-indicator.mq4 indicator file (MT4)
Indicator Chart Example
The picture below shows the Keltner X2 Channel Extreme Signal Forex indicator attached to the Euro / U.S. Dollar daily chart.
How to use this Forex indicator?
This Forex indicator can be used in multiple ways, find an example below:
Buy Signal:
- Open a buy trade as soon as the orange colored buy zone appears on the chart.
- Place stop loss below the middle Keltner band.
Sell Signal:
- Open a sell trade as soon as the blue colored sell zone appears on the chart.
- Place stop loss above the middle Keltner band.
How to install the Keltner X2 Channel Extreme Signal indicator to the Metatrader 4 platform?
- Download the keltner-x2-mtf-tt-indicator.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