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5 Min Keltner System

  • #241
  • Jun 4, 2008 6:19pm Jun 4, 2008 6:19pm
Hi there. Am as green on these indicator downloads as can be. Is there a way you can walk me through getting your indicators into my mt4 system so I can have both your system and mine showing on the same chart? Am really fascinated by your methodology and want to learn more rapidly. Can make myself available at any time deemed appropriate so as to do this if you believe it to be a good idea. Thanks, Keith ("X")
All that is needed for evil to triumph is for good men to do nothing !!
  • #242
  • Jun 5, 2008 9:18am Jun 5, 2008 9:18am
Hi X,

Put the indicators into the "experts/indicators" folder where you installed MT4, for example under "Interbank FX Trader 4".

Put the template into the "templates" folder where you installed MT4, for example "Interbank FX Trader 4/templates".

Restart your MT4 and then load the template. If you want to combine them with your indicators, don't use the template but pull the indicators on your chart individually to add them to yours.

Hope this helps! Chris
  • #243
  • Jun 5, 2008 12:17pm Jun 5, 2008 12:17pm
Is it just me or has this week been somewhat slow with most currencies?
  • #244
  • Jun 6, 2008 7:37am Jun 6, 2008 7:37am
Hey Paulus,

Just started to look at this thread, as it got a mention over on Expats thread. I saw in the chat room that you have applied an RSI filter? Would you mind expanding on this please when you get a chance. Are you still using the same system?

Steve
  • #245
  • Jun 6, 2008 11:25am Jun 6, 2008 11:25am
hi Steve will be putting the RSI tem[plate up tonight once i have finished trading and havnt had too many glasses of Pinot

Paulus
  • #246
  • Jun 6, 2008 11:27am Jun 6, 2008 11:27am
Hi Ex

yes that should work..but you must open and close MT4

when ever I down load an indicator or template etc I always saved them to my desk top so I know where they are

Paulus
  • #247
  • Jun 6, 2008 4:47pm Jun 6, 2008 4:47pm
The fix saved me having several losses today so here it is

Hi all

Back off hols and thanks for the posts..I love the coloured Stoch makes things very easy on the eye. Do you think there is a chance of doing it with the DiNapoli Stoch....just a thought

ok this may be a fix for the trend problem. One day last week it saved 40 pips of loss by keeping you out of most of the tending periods. It will cut out a few winners but overall it should save more.

If you put an RSI set to 14 on your chart, and look at just the peaks we are not interested if it is above or below OB or OS..this technic is an offshoot of some thing that was taught on the Trader International course which I took 4-5 years ago.

Its just simple diversity

The chart below shows how to use the RSI and how to work out what peaks to use.

The RSI is only used when we have signal in the same direction..so if we had short short short short short then we would use the RSI as a filter as these may be firing off in a trend against our signals.

If we have Short long short long then we don’t use and the sequence is broken by a signal in the opposite direction

Sooooooo

Long long ( use) short (no need) short (use) short(use) long (no need) etc etc.

Hopefully the chart below will explain better

I have used a white dotted vertical line to show where the RSI peaks are they will always be 1 bar behind the actual signal bar

As you can see the 1st long we take as it’s the 1st since the one before off the chart was a short.


1st signal – We take
2nd signal – If you look at the RSI peak we made a higher high so we leave
3rd signal – Again we made a HH on the RSI so we leave
4th signal – We can take as the RSI peak made a lower low

I must stress this will also stop you taking you some winners but I think stopping the losers is more important. If you had 6 wins and 6 losers for the day and applying this technique cut that down to just 2 wins for the day then we have achieved our aim.

Again the system is ongoing and this I suspect is not the full and final version.



Paulus
Attached Image (click to enlarge)
Click to Enlarge Name: RSI.jpg Size: 81 KB
Attached File(s)
File Type: tpl kelt system.tpl   3 KB | 607 downloads
  • #248
  • Jun 6, 2008 4:59pm Jun 6, 2008 4:59pm
From a few days ago 2 nice trends and the savings, X marks the spot of rejected signals

Paulus
Attached Image (click to enlarge)
Click to Enlarge Name: RSI 2.jpg Size: 66 KB
  • #249
  • Jun 7, 2008 10:36am Jun 7, 2008 10:36am
When applying your template to the chart, only Dinapoli stochastic appears. Do you use mainly Dinapoli stoc or classic stoc for validation of the signals?

Thanks for this nice system

Quoting Paulus
The fix saved me having several losses today so here it is

Hi all

Back off hols and thanks for the posts..I love the coloured Stoch makes things very easy on the eye. Do you think there is a chance of doing it with the DiNapoli Stoch....just a thought

ok this may be a fix for the trend problem. One day last week it saved 40 pips of loss by keeping you out of most of the tending periods. It will cut out a few winners but overall it should save more.

If you put an RSI set to 14 on your chart, and look at just the peaks we are not interested if it is above or below OB or OS..this technic is an offshoot of some thing that was taught on the Trader International course which I took 4-5 years ago.

Its just simple diversity

The chart below shows how to use the RSI and how to work out what peaks to use.

The RSI is only used when we have signal in the same direction..so if we had short short short short short then we would use the RSI as a filter as these may be firing off in a trend against our signals.

If we have Short long short long then we don’t use and the sequence is broken by a signal in the opposite direction

Sooooooo

Long long ( use) short (no need) short (use) short(use) long (no need) etc etc.

Hopefully the chart below will explain better

I have used a white dotted vertical line to show where the RSI peaks are they will always be 1 bar behind the actual signal bar

As you can see the 1st long we take as it’s the 1st since the one before off the chart was a short.


1st signal – We take
2nd signal – If you look at the RSI peak we made a higher high so we leave
3rd signal – Again we made a HH on the RSI so we leave
4th signal – We can take as the RSI peak made a lower low

I must stress this will also stop you taking you some winners but I think stopping the losers is more important. If you had 6 wins and 6 losers for the day and applying this technique cut that down to just 2 wins for the day then we have achieved our aim.

Again the system is ongoing and this I suspect is not the full and final version.



Paulus
  • #250
  • Jun 7, 2008 11:18am Jun 7, 2008 11:18am
That looks pretty cool, thanks Paulus!
  • #251
  • Jun 7, 2008 7:17pm Jun 7, 2008 7:17pm
paulus, Thanks for sharing your system. After watching some of your trades there on ex's trading room, I had to come and read what this was all about. It looks really good.

If I get some time I will put together an EA for you. I am not pro at it, but this is a simple system, and I am sure it could be done without too much trouble. In fact, I wrote an ea for a system I used for a while that is similar to your original system, but uses envelopes.
"No man is free who is not master of himself"
  • #252
  • Jun 7, 2008 11:35pm Jun 7, 2008 11:35pm
Paulus, can you confirm that these are all the indicators that you use with your template? Did I miss any?

Emeric33 & all....I found that if you don't have all of these in your indicator folder they won't show up on your chart when you load the template.
Attached Image
  • #253
  • Jun 8, 2008 5:41am Jun 8, 2008 5:41am
Hi Em

Thats weird ..I still use both DiNapoli and the original standard stoch..I will post the template again


David..that would be great ..I wouldn't know where to start,I appreciate the help

SeaMonkey

yes thats it ..I will post my template and all indicators in 10 mins that I use separately from the template

cheers for the posts

paulus
  • #254
  • Jun 8, 2008 5:54am Jun 8, 2008 5:54am
Put every thing apart from the template in your

MetaTrader -experts - indicators folder

Put the template in your

MetaTrader - templates folder

If you have MT open..shut it and reopen...you should now find the template in your template tab and the rest listed in the inds tab under custom

BUT if have put every thing where it should be..you need only load the template as it will find for itself what it needs

Paulus
Attached File(s)
File Type: mq4 _My Keltner Channel.mq4   3 KB | 1,139 downloads
File Type: ex4 CandleTime.ex4   2 KB | 865 downloads
File Type: tpl kelt system.tpl   4 KB | 1,034 downloads
File Type: ex4 Magnified Market Price.ex4   3 KB | 915 downloads
File Type: mq4 RSI.mq4   3 KB | 869 downloads
File Type: mq4 StochasticColor.mq4   5 KB | 1,152 downloads
File Type: mq4 StochasticDiNapoli_v1[1].mq4   3 KB | 925 downloads
  • #255
  • Jun 8, 2008 10:40am Jun 8, 2008 10:40am
hi paulus
with witch broker you used to trade russel ?
thanks
  • #256
  • Jun 8, 2008 11:44am Jun 8, 2008 11:44am
by the way paulus what makes you change from futures to forex , if the very simple system you have posted at the starting of the thread was profitable on futures and when i look at the chart of russel i find it so obviously profitable and maybe on sp too
thanks for sharing
imad
  • #257
  • Jun 8, 2008 11:58am Jun 8, 2008 11:58am
paulus, can you take a look at these trades and see if I am trading it right, before I start on the EA?

The red verticle lines are the signal bars

Thanks
Attached Image(s) (click to enlarge)
Click to Enlarge Name: chart.gif Size: 30 KB
Click to Enlarge Name: chart2.gif Size: 22 KB
"No man is free who is not master of himself"
  • #258
  • Jun 8, 2008 9:07pm Jun 8, 2008 9:07pm
Quoting Paulus

If you put an RSI set to 14 on your chart, and look at just
the peaks we are not interested if it is above or below OB or OS.
Paulus...

Concerning the peaks of the RSI, on the image it looks like
you are measuring the RSI peaks from Signal to Signal,
and not from the most recent "previous" RSI peak to
the most current RSI peak, right?

In other words, are you concerned with the RSI peaks
only from the previous RSI peak nearest the previous Signal...
and then "measuring" to the most current Signal and it's
associated current RSI peak?

I hope my question is clear.
  • #259
  • Jun 9, 2008 12:16pm Jun 9, 2008 12:16pm
Hi 20

Yes u got it rsi peak on signal to rsi peak on signal

cheers

Paulus
  • #260
  • Jun 9, 2008 2:41pm Jun 9, 2008 2:41pm
Paulus, is there a limit to how for the signal bar can move to make it an valid signal? I am wondering about that trade on my first chart that says I am not sure about this on. The signal moved a long ways down past the k band, then continued to move down (but not to the + 10 mark) then came back up. So the entry was after the move was over.
"No man is free who is not master of himself"
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