The ATR Keltner Channels MT5 software is a potent tool for Forex traders, designed to provide accurate, real-time data on market volatility. The software uses a volatility-based trend indicator, making it an invaluable asset for identifying and capitalizing on market trends.
Key Features of ATR Keltner Channels
The ATR Keltner Channels MT5 software is designed around the concept of Keltner Channels, volatility-based bands placed on either side of an asset’s price. These channels assist in determining the direction of a trend, offering traders a clear picture of potential market movements.
The exponential moving average (EMA) of a Keltner Channel is typically set to 20 periods, though this can be modified based on the trader’s preference. The upper and lower bands are typically set three times the average true range (ATR) above and below the EMA, and again, these multipliers can be adjusted based on personal preference.
Price Movement Indicators
ATR Keltner Channels MT5 software uses the price movement in relation to the upper and lower Keltner Channel bands as a bullish or bearish indicator. When the price reaches the upper band, it suggests a bullish trend, whereas reaching the lower band indicates a bearish trend. The angle of the Keltner Channel also aids in identifying the trend direction. Furthermore, the price may oscillate between the upper and lower Keltner Channel bands, interpreted as resistance and support levels.
Display Types
The software offers two display types. The ‘Real Value’ display shows the exact value at the selected timeframe, which is recommended for most accurate analysis. The second display type shows the value at the last tick of the timeframe bar, commonly used in other simple Multi-Timeframe indicators. However, this value may not be the real value at the time of bar formation, and thus it is not recommended for accurate analysis.
Customizable Input Parameters
The ATR Keltner Channels MT5 software comes with a range of adjustable input parameters. These include general settings like the timeframe of data collection, the type of value displayed, and the multiplier. It also allows for adjustments in the MA settings, including the MA period, method, and applied price, as well as the ATR period. Users can also customize the clouds color settings for different ATR levels, enhancing visual clarity and analysis.
Independent Testing and User Experience
Interested users can access independent testing of the ATR Keltner Channels MT5 software on the forexroboteasy.com website and subscribe to updates on the results of testing this product. We encourage users to share their experiences using this software, contributing to a communal knowledge bank that can help others make informed decisions.
Frequently Asked Questions
What is the ATR Keltner Channels MT5 Software?
The ATR Keltner Channels MT5 software is a Forex trading tool that uses volatility-based trend indicators to help traders identify and capitalize on market trends.
How does the software work?
The software uses Keltner Channels, volatility-based bands placed on either side of an asset’s price, to assist in determining the direction of a trend. The software also offers two display types and a range of adjustable input parameters for customization.
Where can I access independent testing of the software?
Independent testing of the ATR Keltner Channels MT5 software can be accessed on the forexroboteasy.com website.
This review provides an independent, third-person analysis of the ATR Keltner Channels MT5 software. It does not endorse or promote the product, but rather offers an objective overview of its features and functionality.
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