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Keltner channel for MT4 55 replies
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Keltner channels... 3 replies
DislikedThe fix saved me having several losses today so here it is
Hi all
Back off hols and thanks for the posts..I love the coloured Stoch makes things very easy on the eye. Do you think there is a chance of doing it with the DiNapoli Stoch....just a thought
ok this may be a fix for the trend problem. One day last week it saved 40 pips of loss by keeping you out of most of the tending periods. It will cut out a few winners but overall it should save more.
If you put an RSI set to 14 on your chart, and look at just the peaks we are not interested if it is above or below OB or OS..this technic is an offshoot of some thing that was taught on the Trader International course which I took 4-5 years ago.
Its just simple diversity
The chart below shows how to use the RSI and how to work out what peaks to use.
The RSI is only used when we have signal in the same direction..so if we had short short short short short then we would use the RSI as a filter as these may be firing off in a trend against our signals.
If we have Short long short long then we don’t use and the sequence is broken by a signal in the opposite direction
Sooooooo
Long long ( use) short (no need) short (use) short(use) long (no need) etc etc.
Hopefully the chart below will explain better
I have used a white dotted vertical line to show where the RSI peaks are they will always be 1 bar behind the actual signal bar
As you can see the 1st long we take as it’s the 1st since the one before off the chart was a short.
1st signal – We take
2nd signal – If you look at the RSI peak we made a higher high so we leave
3rd signal – Again we made a HH on the RSI so we leave
4th signal – We can take as the RSI peak made a lower low
I must stress this will also stop you taking you some winners but I think stopping the losers is more important. If you had 6 wins and 6 losers for the day and applying this technique cut that down to just 2 wins for the day then we have achieved our aim.
Again the system is ongoing and this I suspect is not the full and final version.
PaulusIgnored
Disliked
If you put an RSI set to 14 on your chart, and look at just
the peaks we are not interested if it is above or below OB or OS.Ignored