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Keltner Channels are one of the most popular candlestick technical analysis indicators. These channels measure the high and low points of a currency’s price within a certain time interval. The upper channel line is based on an exponential moving average (EMA) of the highest high prices over that time period, while the lower channel line is based on an EMA of the lowest low prices in that time period.
Keltner Channel Strategy
The indicator can be calculated with any time frame, but it is usually recommended to use daily data when using Keltner Channel Indicator for intraday trading. On higher timescales (H4 or D1), you will probably find better results without this indicator Shark Harmonic Pattern because of its lagging nature on big swings.
There are two versions of the Keltner Channel Indicator:
The indicator can be used as a trend following or a range trading tool. To determine bullish and bearish zones, we use the mid-channel (50% – EMA), which is usually placed at 0. The price will stay in the bullish zone above 0 and in the bearish zone below it.
The indicator works well on major currency pairs such as EURUSD, GBPUSD, USDCHF, USDCAD and NZDUSD because these pairs have wide enough spreads for low timeframe trading. In case you trade any other pair, it’s recommended Ichimoku Indicator to place a longer time interval on your chart because Keltner indicators need some time to adapt to sudden changes.
How to use Keltner Channel Indicator?
To download the indicator, please click Here . If you are interested in learning how to do technical analysis for free, please visit our website at Forex Trading Signals where we offer a free six day mini course with videos and trading signals. Note that members who sign up for the mini course Wyckoff Trading Method today will receive an additional week of training after the first six days so they can learn advanced topics.
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#Keltner #Channel #Indicator
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