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Profitable Dual ChannelBand System

  • #21
  • Aug 22, 2018 12:42pm Aug 22, 2018 12:42pm
Quoting lctrader11
Thanks for the quick response....are using MT4? The Keltner Channel indicators I have for MT4 don't have the variables exposed like you're showing. Using TradingView, you can easily set it up, so I guess I'll back test it that way. Just a snapshot look appears that 20 may be too narrow a channel. How did you come to using these multipliers? Thanks again for sharing.
Hi ictrader11:

Yes, the ones on MT4 are a lot different than on Tradingview. However, since the code exists for these on Tradingview I don't think it would take much for someone to come up with an indicator of the same settings for MT4. Right now, though, I don't know how to achieve the same on MT4.

As for the multipliers, I believe that in Forex there is a lot of mathematics in play, so my rationale for choosing the ratio was to use common mathematical constants like sqrt(2). You can really use anything you want but this seems to get the most # of hits for me (hits to tp that is lol)

As for the bands, I stuck with default. You are more than to choose any other period. I think it works well at this setting, but do let us know if you discover otherwise!
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  • #22
  • Aug 22, 2018 12:43pm Aug 22, 2018 12:43pm
Quoting Loqito
{image} {image} That's what I have now for outer bands. Seems OK.
Hi Loqito:

It seems like it should be fine. I don't think it would make that much of a difference, but try using Tradingview to get exact same setup as mine. Cheers!
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  • #23
  • Aug 22, 2018 12:47pm Aug 22, 2018 12:47pm
Another entry setup:

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 129 KB
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  • #24
  • Aug 22, 2018 12:53pm Aug 22, 2018 12:53pm
Thanks for the example; conforms to your rules. Pair, TF (3H chart?) ?
  • #25
  • Aug 22, 2018 12:54pm Aug 22, 2018 12:54pm
Quoting lctrader11
Thanks for the example; conforms to your rules. Pair, TF (3H chart?) ?
I like to trade on higher timeframes so anything above 2h+ should do. And pairs I prefer one's that don't wick too much as those can take out your stop loss. Those are NZD and CHF pairs I avoid. Go for JPY pairs or straight EURUSD, GBPUSD, GBPJPY, EURJPY, USDJPY, USDCAD, GBPAUD, etc.
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  • #26
  • Aug 22, 2018 1:46pm Aug 22, 2018 1:46pm
Very cool, what was the pair and time frame of the last example trade you gave? This will help me match things up on my end.
  • #27
  • Aug 22, 2018 2:06pm Aug 22, 2018 2:06pm
Looks like something that can be put in an EA to validate if its profitable long term
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  • #28
  • Aug 22, 2018 3:02pm Aug 22, 2018 3:02pm
Quoting lctrader11
Very cool, what was the pair and time frame of the last example trade you gave? This will help me match things up on my end.
Sorry - I should be snipping the whole thing. Next time I'll do that. I actually have so many here saved on my desktop I don't know which it was from. I believe it may have been GBPNZD or GBPJPY.
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  • #29
  • Aug 22, 2018 11:55pm Aug 22, 2018 11:55pm
Another entry setup hitting TP:

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 136 KB
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  • #30
  • Edited 4:01am Aug 23, 2018 3:41am | Edited 4:01am
I have compared my keltner indi and settings with Tiestobob GBPJPY 5 min chart - visually they are not the same. Just in case if somebody is using my indi and settings - they are not correct. So, it's up to everybody - to find the right settings for you. I still plan to backtest the old system version with BB and MA.
  • #31
  • Aug 23, 2018 11:31am Aug 23, 2018 11:31am
Quoting Loqito
I have compared my keltner indi and settings with Tiestobob GBPJPY 5 min chart - visually they are not the same. Just in case if somebody is using my indi and settings - they are not correct. So, it's up to everybody - to find the right settings for you. I still plan to backtest the old system version with BB and MA.
Perfect. Yes, until someone makes the indi for us in MT4 we'll have to stick with the Tradingview system settings. Let us know what happens with the backtest on the original system!
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  • #32
  • Aug 23, 2018 7:43pm Aug 23, 2018 7:43pm
Quoting tiestobob
Another entry setup hitting TP: {image}
Hi, can you share your indicator please. The one i have doesnt draw the channels same as in your chart.
  • #33
  • Aug 23, 2018 11:22pm Aug 23, 2018 11:22pm
Quoting tiestobob
{quote} Perfect. Yes, until someone makes the indi for us in MT4 we'll have to stick with the Tradingview system settings. Let us know what happens with the backtest on the original system!
Dear tiestobo and Loqito,

You may need to check if that tradingview keltner is multiplying ATR or just the band. DO not fear, here is one I found earlier
Attached File(s)
File Type: mq4 KeltnerChannel_v1.mq4   3 KB | 525 downloads
It is an old one, but it has the parameters you need. ATR and K, which is the Multiplier that you use. To use just the Multiplier: you set ATR to false.


Hope this helps,
Kind Regards,
Tzamo
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  • #34
  • Aug 24, 2018 7:01pm Aug 24, 2018 7:01pm
Quoting tzamo
{quote} Dear tiestobo and Loqito, You may need to check if that tradingview keltner is multiplying ATR or just the band. DO not fear, here is one I found earlier {file} It is an old one, but it has the parameters you need. ATR and K, which is the Multiplier that you use. To use just the Multiplier: you set ATR to false. Hope this helps, Kind Regards, Tzamo
Excellent, thank you very much kind sir!

Quoting londonali
{quote} Hi, can you share your indicator please. The one i have doesnt draw the channels same as in your chart.
Please see attached indicator by Tzamo.
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  • #35
  • Aug 25, 2018 10:35am Aug 25, 2018 10:35am
Another setup

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 134 KB
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  • #36
  • Aug 27, 2018 7:17am Aug 27, 2018 7:17am
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 65 KB
  • #37
  • Aug 27, 2018 9:52am Aug 27, 2018 9:52am
Quoting tiestobob
Another entry setup: {image}
tpl please
  • #38
  • Aug 27, 2018 3:06pm Aug 27, 2018 3:06pm
Quoting Tatachar
{image}
Hi Tatachar,

Not sure how you based your entry on this chart. It is not as per the system rules ...
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  • #39
  • Aug 27, 2018 3:07pm Aug 27, 2018 3:07pm
Quoting hapanoy
{quote} tpl please
Hi there,

I don't have one now other than Tradingview, but I'll make one tonight and post it. It's really all 2 dual keltner channels with the settings posted in post #1. Let me know if you can configure it.
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  • #40
  • Aug 27, 2018 3:10pm Aug 27, 2018 3:10pm
Another entry setup:

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 129 KB
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