correction make that 08:50
Keltner channel for MT4 55 replies
Keltner Channel Multiplier Constant 8 replies
Keltner channels... 3 replies
DislikedGreat find, thanks Batoobah! Note: I overlayed that ColorStoch on the Stoch in Paulus' template, and it looks different. The settings I used were 5, 3, 2, like for the other stoch.Ignored
Entry
Are we still waiting for the close of the next bar to be an up bar and using that as our signal bar (with which we are taking 2 pips reverse of the close as entry price)?
Or are we just waiting for an up tick on the bar, and an uptick on the stoch at the same time, no matter how much time the bar has left etc?
Been playing around with it this evening a little bit but this part has me a little confused. Seems the successful way to get into a trade and not just be completely passed by, is to have an up bar in the last 10 seconds or so, use the current market price in that last 10 seconds of the bar to subtract 2 pips from for our entry price. Then 10 seconds later after it closes, we use the low of the bar as our stop, and add 10 pips to our entry price as our target?
Could be way off as usual, please enlighten me
Hope you had a good holiday as well.
DislikedThis basically is a "revert to the mean" system, and is a good one.
It will work great when there is no trend in place, and it will fail when there is a trend in the traded timeframe, because it will try counter-trend entries.
What should be really added to this system is a trend filter: just trade it when there's no trend. When trending, trade another system.Ignored