5 Min Keltner System

Hi Thanks for that chappy

I only have one currency (2 charts open) for EUR/USD

I will post up some trades when i get back home today after work

[quote=chappy;5337387]long signal :

1. Wait for price to be outside keltner , and stoch below 20 .

2. Enter as stoch crosses up through 20 .

3. Exit as price touches opposite keltner . ( You could also hold until stoch

quote]

Hi, thanks for sharing this interesting system, i am playing around with renkos as well and trying to find something which suits my "arcade" style of trading as i dont have much time to sit in front of the PC

1 question with regards to your entry if you dont mind, when the stoch crosses up through 20, must the price still be outside the keltner? many a times i am seeing that when this happens, the price is already at the middle of the keltner and its only 5-6 pips away from the other keltner end

Sorry , I think I confused you ,

when the stoch crosses the 20 ( to go long ) , price has usually also crossed

back into the keltner . The entry signal for me is when the stoch crosses the

20 ,

Paulus does it a little differently with candlesticks by taking the first long bar

and not waiting for the stach to cross ..

btw ,,today is a tough day for the method on the EU , as we are in a trend .

This method works best in a sideways , rangebound day .

Chappy - thanks for the clarification
yes i am getting slaughtered on EU right now (in demo) by using this method....trying to adjust the renko sizes to see if
any makes a material difference.

the rules are simple. Do I wait for a close outside the channel or is it enough if the high of a candle breaks the channel.

Same question on number 2 do we wait for a candle close to confirm the stochastic or is it enough if the current stochastic is above the 20

This might be a way to use the method in a trend .

The stoch has failed to retrace from OS to OB ( or vice versa ) so when it

comes back to the 20/80 , it signals a continuation entry ..

( a bit confusing but gets clearer with screen time )
.........................................................................................

Kilian , I'm not sure how to answer that for coding purposes ..However

for a sell signal ,when the price moves above the keltner ,it tells me

"heads-up"--"get ready " . at that point i am focused on the stoch . and as

it slants down towards the 80 , I will enter just as it crosses ..

Lol ..I guess I am saying that No , I'm not waiting for a bar to close ..

The action of the stoch is my main focus ..Hope that all makes some sense

Having said that , Paulus uses a bar close entry and he may get in before I do .

Leaving the office today for a few weeks ...

Trade Well........Never Give Up ......

If I look at the stochastic crosses it doesn't seem like this system is profitable.
An indicator however just looks at the close price so if you enter early it might turn out better.

This is just an indicator

Hi!

I have an idea how to tading with success using keltner channel

1/ TP should be 2 times higher than SL (eg. SL = 30% x distance between channels lines, TP = 60% x dist)
2/ After SL, wait for opposite signal (eg. if sell signal closed by SL, EA wait only for buy signal)
3/ Every trade with fixed risk (eg. 0,5 - 1 %)
4/ Open trade some pips above lower line / below higher line (2-3 pips)

Can anyone code the EA using this rules?
I'll be grateful.

LeW

(The important thing which makes this EA profitable)

5/ Add 1.5 lot multiplier after StopLoss
1) Start with 0,2% risk
2) 0,3%
3) 0,4%
4) 0,6%
5) 0,9%
6) 1,3%
7) 1,9%
8) 2,8%
9) 4,2%
10) 6,3%
11) 6,3%
12) Stop trading and move the EA to recycle bin

Well I have manualy bactested this method (the original one, not LeW's modification) and this is not a winning strategy in long run.
There are days with haevy winning but then come day with like 3W/17L. The truth is, that winning trades are bigger then the losing ones, but it will not help make tis method a winning strategy. In the long run you will got none or really thin edge over the market.
What I noticed is, that 5,3,2 stoch filter is not good at all, the best is the original 15,3,2 stoch, in combination with diNapoli even better. Using BE at middle white line is not good too.

Hi All,
could someone help me to add a alarm and balls signals to my indicator Keltnerchannel v1.mt4?

I'd like to have the same balls signals in BolliToucher.mq4

I have been following up with KeltnerChannel indicator, it looks great and have a good result. However I have been looking for automated system EA for KeltnerChannel. Open close trades with TP and SL.
Any help will be much appreciated.