5 Min Keltner System

Hi David

Well I'm aggressive so I tend to take them all unless if its a short its through the bottom band and visa versa for longs..

But if you see a pattern to losers on big bars let me know

cheers

Paulus

Looks like you are doing well today. Nice! Go to the church and light a candle for me if you would. Worse day I can remember. Lousy price action all day. If I am reading your signals correctly, you are up around 60 pips. Does this sound right?

Just want to make sure..

For example to get a valid long signals, you want both normal stochastic and dinapoli stochatic being under 20...correct?..not only one of them?

Thnaks

em

Ordinary stoch under 20 ...Di under 30 for longs... then just normal to tick up

Ex.. bad luck yes system up 70 pips got my 30 sorry to hear about the session

Had around 10 K followed by X signals todayI think 9 made 15 1 made its break even

Rectangular boxes are the combined signal... arrow K ...tick X ...cross 'no signal filter rule'

I don't do prayers but will make an exception for you ..bless you my son

fortes fortuna iuvat Paulus

ps

away on business tomorrow and tomorrow night so cannot post or comment ..good luck to all in the struggle to beat the beast

Dont give in..

A man was looking for gold he dug a hole for 20 years and in the end gave up and walked away..another guy jumped in the hole picked up a spade and in his 1st shovel full found a fortune in gold ore..

keep digging ..Ive got blisters

Paulus

Ok. Have a good trip. Are these shaded areas confirmed as potential buy and sell areas? I see that if used as such, I simply initiate the order and then hold until price reaches the middle of the bands. At that point, I can eith flow right through with my own plan or hold until price touches the other side of the bands. Is that fundamentally correct?

Greetings Paulus and all, This is my first post to forex factory. I have read this thread from start to finish and tried this method on demo today. Very nice work. I found myself missing many entries because I was simply doing other things. To show my appreciation for this thread I have modified the Keltner channel code to include a simple alert when either of 2 conditions are met: (1) price close > upper keltner AND stoch >= 80 (2) price close < lower keltner AND stoch <= 20

I hope this proves useful and you can tell me if there are any issues. I find that some good entries are missed because 80/20 may be too stringent but they can be adjusted. Also this code is not very far off from being a very simple EA.

Here is complete list of changes:
1) changed name to Keltner Channel Paulus mod02.mq4
2) changed default Lenth = 10
3) changed default TimesATR = 1.0
4) changed default color to red
5) added arguments for: Alerts_ON=true, StochKPeriod1=5, StochDPeriod1=3, StochSlowing1=2, Upper_Stoch_Threshold=80, Lower_Stoch_Threshold=20

Things that could be added: email alert, ???

--peej

BTW: just got an alert from this indicator at 23:50

--peej

This system has been working great for me with the original settings. The only thing that I added to it were auto pivots and the 60 ema (you may want to add the 200 also). What I look for patiently are set ups where the stoch is OB or OS, a closing outside of the KC, and confluence with a pivot or the ema that provides normally some resistance. I concentrate on one currency cross, EUR/USD. This does a few things. It keeps me focused on one currency, keeps my spread low, and forces me to take only the best set-ups. I also keep an eye on price action on the 30min and 4hr, but when you are scalping the 5min, normally they don't have an impact unless you hit a 4hr trend line. I am also willing to TP at the middle line in the KC. This is usually good for about 5 pips or so. I look to grab about 10 pips a day at higher leverage and have been consistent with it. I affirm to myself that I am a sniper and I will only shoot when I am very confident that I will hit. Patience pays.

Hi Keltner,
Want to know if u have added a new indicator to you system apart from the one on post 1 and about the true setting for stoch. Appreciate alot.
Thanks.
Alnames.

here is my first version of the the keltner ea. It still has some bugs, but I thought I would post it, since I am not going to have much time for a few days to work on it.

Just as a note, this is in its early stages, so don't use it on a live account.

Also I noticed that the colored stochastic set to 532 actually reads like a regular stochastic set to 533. So the ea is using a stochastic of 533 to match my colored stochastic on my template.

Have fun with it, and let me know what it does wrong.

David

Ex

Yes that chart look fine and sounds right what u are saying..although the draw down on K is more than the X system.. hence the proposed 'stop at 20 25 or 30' for the day.

Peej.. great work many thanks for this will run later today and let you know.How about a sound alert so u can wander from the PC but leave sound alert on ? may be useful

Hoss.. excellent post the theory sounds solid going short with resistance above you in one form or another on a market that is over stretched increase your odds of a win dramatically..Thanks for the post and will watch the pivots and ema on my chart ..it wont stop me trading but some thing may click and this is what a thread like this is all about sowing seeds for each other

Alnames the latest inds and template is on post 254 but hasnt got the ea for telling u if the k lines are broken or the inds by hoss

David ..great work and thanks for your time on this will load and watch question can I run 2 or 3 ea's on the one chart.This forum is great with people willing to kelp out and share tyhier skills for the benefit of us all

I thanks you all... may the fight go on.. take a breath put your head down and walk into the storm...lols

Paulus

You can't run two ea's on the same chart, but you can open another chart and put another ea on that chart. As long as they have a different magic number, they will not interfere with each other.

Hi David

have the EA running

a few questions

SL 1 does this mean each position the ea looks at will have a 1 pip sl ?
limit amount I have set to 1
start time 5 is that 5am ?
end time 20 is that 8pm
slippage 5 - whats this

sorry for basic questions

cheers

paulus

sorry also

can it post signals to an excel spread sheet ??

P

Hi Expat,

thanks a lot for publishing your template setup. I've been staring at it for some time, but I don't seem to be able to come up with entry rules that give a 90% hitrate like you stated. Surely not every SMA crossing is an entry, how do you use the Stoch & ADX in conjunction with these crossings?

thanks
Ohka

The SL 1 means 1 pip past the signal candle.
the limit amount is you set your limit order to. if it is one, it will enter the trade when it retraces 1 pip from the close of the signal candle.
The start and stop times are based on your broker time.
the slippage, is that the max you will allow your trade to be off. So if you enter long at 1.5570, you may get in at 1.5575 if the market moves really fast right when the order is sent.

Sorry I didn't explain much of how it works.

I am not sure about that one. I have never tried.

Might be a dumb question, but instead of waiting to see figured someone might be able to answer it quickly. If I want to play with this test EA provided, am I required to still have all the indicators on the chart, does the ea need them to run?
It's been awhile since I've had to play with this method again, and don't have time just this second to hunt down all the indicators and settings again.
Thanks!

Ok, I quickly went thru and reloaded all the indicators in case the EA needed them (which I think it does).
I also had to change the EA itself to use the newly modified keltner signal file, instead of the original. The new one fires off the alerts.
I am not sure if I have the correct settings for all the indicators, are all the settings still the same as the #1 post here? If not, maybe paulus can updated post #1 with all the new indicators, template, settings etc?

I did get an alert already, stating the keltner and stoch indicated a signal, however the EA hasn't opened an order. Will have to watch it longer to see if it's working or not.
If anyone else has been playing with the EA, can you let me know if it is opening trades or not?

Thanks