Keltner channel oscillator

via forex-tsd.com

A good old Keltner channel in a bit different form ...

This one is made as an oscillator and histogram bars are marking channel breakout(s). One additional option compared to usual ones is added : if one uses Keltner channel from breakout, then it is logical not to use current value for calculation but the previous (already closed bar) values of moving average and atr. For that purpose MaAtrShift parameter is added : 0 for current bar (when it works like all the other Keltner channel indicators) or 1 for previous bar (you can use other value too, but the purpose of even older value than the first previous is questionable). Download Keltner channel oscillator indicator for free: http://www.forex-tsd.com/metatrader-4/929-keltner-channel-4.html#post427175

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