Keltner channel for MT4 55 replies
Keltner Channel Multiplier Constant 8 replies
Keltner channels... 3 replies
DislikedHi Ben hope this helps ..
Expatt will pop in tomorrow get the kettle on
PaulusIgnored
Dislikedyes thats correct..other wise taking it to the extreme you could have a series of doji candles with stoch coming down from OB into OS and then get a down bar...you cant go short ..
it has to happen with stoch ticking down at same time as candle is a down candle all happening from above the 80 line..ie bar before signal is above 80 then down tick with down candle..thats your signal
PaulusIgnored
DislikedSimple sorry for the late post..thanks for the gravity Ind could you post a chart with some signals youve taken using it please.
And thanks for posting its all going into my arsenal
Le pip
here is your chart with my explanations..I hope they make sense
For people visiting the thread its all gone quite mainly due to the fact Im still working on perfecting the entry.It gives good signals and think Ive cracked the signal against a trend problem ..just looking at the stop..either move to break even when we hit the middle ma line OR take the stop 1 pip above high of bar for a short and 1 pip below low of bar for a long..
Or like i use it on Futures ( trading 2 contracts or always in pairs)when i make 1 full point I close and move stop to break even on 2nd ....then close 2nd at +3 giving me 3 full points per pair of contracts traded ,3 full points on ER2 futures is $300
Still experimenting
PaulusIgnored
Entry
The fixed target worked well today ,even in trends as Im going counter trend the 10 pip tgt has a chance of getting hit.With a fixed stop if we enter with a lmt buy 2 pips below the close we are in effect getting in minus the spread and reducing our potential loss by 2 ticks
We are also increasing the chances of getting out with our target.
The draw back is the move can happen with out price coming down to your lmt buy.
Example
Signal at 10
Set lmt buy at 08
Low of bar 04 set stop to 03 ( stop is 08 - 03 = 5 pips)
target 10 pips so set at 18
Without lmt buy but entering with mkt order
Signal at 10
mkt entry at 12
Low of bar 04 set stop to 03 ( stop is 12 - 03 = 9pips)
target 10 pips so set at 22
Signals today
-2+10+9+10+10+10-8+10+10-7-5+5+10-7-7+10 ( not filled not counted) -2+1+10 = +57
Cheers Paulus
ps daily tgt of 30 pips hit early in the day
DislikedThanks cC
No I havnt looked at other time frames,once i get the 5min firing on all cylinders I'l look at a few other time frames for those longer term bigger gains..
Thanks for posting the chart
Ive had a good result today on the K system ....
Rules i used today in the trading room
Longs
signal in normal way
- Price closes below bottom K line
- Stoch Di below 30
- Stoch normal below 20
- Stoch normal ticks up at the same time as an up bar
Entry
- Set a lmt buy 2 pips below the close of the signal candle
- Wait to get taken
- Fix the stop 1 pip below the low of the entry candle
- Set target is 10 pips
The fixed target worked well today ,even in trends as Im going counter trend the 10 pip tgt has a chance of getting hit.With a fixed stop if we enter with a lmt buy 2 pips below the close we are in effect getting in minus the spread and reducing our potential loss by 2 ticks
We are also increasing the chances of getting out with our target.
The draw back is the move can happen with out price coming down to your lmt buy.
Example
Signal at 10
Set lmt buy at 08
Low of bar 04 set stop to 03 ( stop is 08 - 03 = 5 pips)
target 10 pips so set at 18
Without lmt buy but entering with mkt order
Signal at 10
mkt entry at 12
Low of bar 04 set stop to 03 ( stop is 12 - 03 = 9pips)
target 10 pips so set at 22
Signals today
-2+10+9+10+10+10-8+10+10-7-5+5+10-7-7+10 ( not filled not counted) -2+1+10 = +57
Cheers Paulus
ps daily tgt of 30 pips hit early in the dayIgnored
Entry
RULE
The figures below are all signals generated and are manually back tested ,I live traded several ...as no EA is available the manual back test was the only option open to me.
The signals are taken from the whole session 0.00 to to 0.00 Monday 19th up to Friday 23rd
Monday
+10-2-2+10+10+10+10-5-3+10+10+10-11+10+10+10 =+87 pips
Tuesday
-3-1+10+10+10-8+10-7-6+10+10+10+10+10+10-5+10+10-2+10 = +88 pips
Wednesday
+10-3+10-2+10+10+10-8-5-5+10-4+10+10 = +54
Thursday
+10-4-3+10-3+10-7-7+10-5-5+10-4+10-2+10 = +30
Friday
-4+10+10-6+10-3+10-4-9+10+10-2+10+10+10 = +62
Im very happy with the above results esp the loser/winner ratio in terms of hits and size..it gives a fairly good risk return.This is done by taking the lmt buy and sell to reduce the losing trades and exit the winning trades quicker
A target of 30 pips a day is achievable I think and seems to be a good cut off point...no point in sitting in front of the pc all day !
A couple of signals a day were not taken as the lmt order was not hit before the signal hit its target so a potential 20 pips on average per day is missed by these trades but is outweighed I think by the tighter stops.
The chart I have posted shows a 'messy' signal to show you how the lmt buy order works there are other signals on the chart but not marked some winners some losers.
I have also included an example of your ticket once you are filled on the lmt price you can go into your account management and click on 'modify ticket' to adjust stop and tp to the exact pip
http://www.turboimagehost.com/p/3522...20/%3E%3C/a%3E