The Keltner Cloud indicator for Metatrader 5 delivers super easy-to-use trading signals that work for both beginners and seasoned traders.
The indicator shows up in the main chart as a colored channel that follows the best Forex trend at any given moment.
How to spot the overall market trend with this tool?
- An upward moving channel is bullish.
- A downward moving channel bearish.
The following indicator inputs and parameters can be modified: Keltner period, deviation, center line smoothing method, and applied price for center line.
The indicator works for any trading instrument (Forex, Stocks, Indices, Metals, etc.) that can be loaded into the Metatrader 5 platform.
Please make yourself familiar with this technical indicator and test it first on a demo account before using it on a real trading account.
Some currency traders combine the Keltner Cloud indicator with other signals and trading tools.
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Keltner_Cloud.mq5 Indicator (MT5)
Chart Example
The following chart shows how the Keltner Cloud indicator looks when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The Keltner Cloud Technical Indicator?
Find a simple trading example below:
Buy Signal
- A buy signal is formed when the candlestick crosses back above the Keltner Cloud indicator from below.
- Open a buy trade and place your stop loss below the Keltner Cloud indicator.
- Exit the buy trade for a risk/reward ratio of at least 1 or better.
Sell Signal
- A sell signal is formed when the candlestick crosses back below the Keltner Cloud indicator from above.
- Open a sell trade and place your stop loss above the Keltner Cloud indicator.
- Exit the sell trade for a risk/reward ratio of at least 1 or better.
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Keltner_Cloud.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 Keltner_Cloud.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