The KAMA Keltner Channel indicator for Metatrader 5 draws a channel in the price chart that can generate multiple trading signals every day.
The channel is easy to trade with clear buy and sell trading rules.
Generally speaking, the KAMA Keltner Channel indicator should work well for any FX trader, regardless of prior trading experience.
Understanding the buy and sell trends:
- A buy trend occurs when the KAMA Keltner channel is trending upward.
- A sell trend occurs when the KAMA Keltner channel is trending downward.
The following indicator inputs and parameters can be modified: period, fast end period, slow end period, smooth power, price, ATR period, and channel multiplier.
This channel indicator can be used as a standalone buy & sell technical tool.
Please make yourself familiar with this technical indicator and test it first on a demo account for an extended time.
It works for any currency pair (majors, minors, exotics) and time frame.
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KAMA Keltner channel.mq5 Indicator (MT5)
Chart Example
The following chart shows what the KAMA Keltner Channel indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The KAMA Keltner Channel Forex Indicator?
Find a simple trading example below:
Buy Signal
- The candle touches the lower channel line while the KAMA Keltner channel is trending upward.
- Initiate a buy order and set the stop loss below the lower KAMA Keltner channel line.
- Take profit at the upper KAMA Keltner channel resistance line.
Sell Signal
- The candle touches the upper channel line while the KAMA Keltner channel is trending downward.
- Initiate a sell order and set the stop loss above the upper KAMA Keltner channel line.
- Take profit at the lower KAMA Keltner channel support line.
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KAMA Keltner channel.mq5 Indicator (MT5)
Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the KAMA Keltner channel.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration