5 Min Keltner System

correction make that 08:50

Hi,
I think someone asked for this here in this thread.
I found it here in FF, programmed by "mladen".
Hope it helps.

Hi,
I just realized this other one has a bunch of extra features.
Paulus: now you can also watch TV downstairs and leave the baby monitor on (as you can do with Futures), this one has sound alerts, as well as email alerts (someone said he worked with internet access but couldn't stand all day in front of the monitor?)
The color blocks is also useful, you don't want to be "staring" at the screen all day long, you can be anywhere in the room and have this big blocks telling you if you must be paying attention or can continue reading.
This is also by Mladen.
Hope it helps.

Great 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.

By the way, there is this great training tool if someone wants to practice. It's a trading simulator:
http://www.forexfactory.com/showthread.php?t=70742

I first tried with the first one, and I saw a discrepancy, I don't know if it's because I used SMA and the other one was with a different setting.
Anyway, I tried it with the second one and it worked Ok.

I'm attaching here the screenshot.
It's the yellow one and the last one with the red and green parts.

Hi Paulus:
This last indicator has something I think can help you explain the "what if the bar I'm monitoring goes up and it's above the 20 line while I'm at it", since the bar is red only if the last point of the curve is below 20. Even if there's a good part of the line below 20, if the last point is above it the line turns gray instead of green (or red).

Hi,
Today was a particularly (word? sorry about my english) bad day to start testing this system. I won one and lost about 5, all in EUR/USD.
I have a question.
In the image I attach, in the green arrow, is this a good signal gone bad? Or is there something I'm not seing?
All going north (even DiNapoli although it's almost horizontal), red is out, green enters, I enter...
Thanks in advance.

I think you're going to have those. If price all of a sudden decides to start trending, this is going to happen. I had some this morning too. Have been looking at some things to see if there is a way to predict this better but haven't come up with anything yet.

As long as you have more winners than losers...

I don't mind having losers
I'd just want to know if that specific case was a good moment (because of the signals). I don't mind losing, if I know I have the rules straight. I think it's better to lose and know why you lost, than to win and don't know why you did it.

I'm assuming you mean the one where the green arrow is? That looks like a valid signal to me. Would have taken that one too.

Hey Paulas,
Back from vacation, and it looks like you have made some nice changes to the system. Trying to get all caught up on things and just had some clarifications.

I will post my template and the Stoch Di with this post also

SIGNAL LONG

1. Price closes below bottom K line
2. Stoch Di below 30
3. Stoch normal below 20
4. Stoch normal ticks up at the same time as an up bar

Entry

1. Set a lmt buy 2 pips below the close of the signal candle
2. Wait for the lmt buy to get filled
3. Fix the stop 1 pip below the low of the entry candle
4. Set target is 10 pips

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.

This 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.

Hi Batoobah

That was a good valid set up but looking at the bar and taking the n2 pips lmt you sould of only lost 2-3 pips on that signal with a tgt of 10 it gives us quite a good risk return.

Im still on hols so havnt got time to nswer all the questions posted but if you set a lmt buy 2 pips below the close of the signal bar and set your stop 1 pip below the of the signal bar your losses will be kept to a min

Or if you prefer you can set your stop to break even when the price touches the middle average K line..that will save aquite a few but may also mean you will miss out on some good winners.

Was there not a nice short signal 16 bars from the left on your screen shot that may of gone for 10 pips ? you would of got filled on the lmt sell around 4-5 bars after the signal bar

sorry have to run
Cheers

Paulus

Just a quick note to thank you for dropping into my site during my absence. Will most assuredly return the favor if needed. Enjoy your vacation, you have a bit of work to do upon your return. Best Regards, X

and when does a trend start and stop?

Try adding a 34,5,8 stoch and if it stays below 20 or above 80 then it is in a trend usually

will update with new rules if this week holds out doing well so far.

here is the timer it sits in the top left of the chart and tells you time left in current bar

Curtisy of a trader on this BB

paulus

Hi Paulus:
Hope you had a great time on the islands.
I was wondering what do you think about Jagui's comment about your system working only when there's no trend.
I've made some backtesting and in fact sometimes I see that.
I've tried some additional indicators so I can reduce the entries only when this extra indicator tells me, but with no luck.

Hi Bat

Yes great thanks one of the best hols Ive had

Im using RSI to filter the trend signals and its working fine at mo.. Im going to post at the end of the week with new template if it carries on.I looked at the stoch but couldn't get it to filter as good..

We had few strong trends yest and it filtered out repetitive signals against the growing trend..not all that would be impossible but enough to make it matter

Thanks jag .. It was a neat idea all ideas are greatly appreciated

the timer is also working great thanks for that Bat

Paulus

I've tested RSI, SAR and TRIX, on 5min.
Trix works nice.
I've tried 14 and it seems to give a good signal.
I'm stilltrying to make a rule out of it.