The exits can be based on three components: a very conservative stop-loss (as you see on the chart, false signals are not uncommon), some rather distant take-profit, and a cross with the middle line. It seems to be a rather viable entry system. The classical strategy with this indicator is to go long when the price closes above the upper band and to go short when it closes below the lower band. Price_Type (default = PRICE_TYPICAL) - the applied price of the moving average (middle line).Mode_MA (default = MODE_SMA) - the mode of the moving average (middle line).MA_Period (default = 10) - the period of the moving average (middle line).The indicator is available both for MT4 and MT5 versions of the platform. In this version of the indicator you can modify all the parameters of the MA. This way, a volatility-based channel is built. It uses three plot lines: the middle line is the 10-day simple moving average applied to the typical price ((high + low + close) / 3), the upper and the lower bands are produced by adding and subtracting the moving average of the daily price range (High and Low difference) from the middle line. The indicator is somewhat similar to the Bollinger Bands and Envelopes. Keltner Channel (MetaTrader indicator) - is a classical technical analysis indicator developed by Chester W.
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