5 Min Keltner System

It has been opening some, in fact the problem with it right now seems to be that it opens too many after a loosing trade.

Remember that it uses more than just the k bands to signal a trade. You have the rsi filter, and the two different stochastic indicators. Then it also needs to retrace back to the limit level (default is 2 pips).

I can't remember if I left all the all the comments in the one I posted, but if you don't have a bunch of information on the left had side of your chart, you can uncomment them.

If you do have them, this is what they mean:

Last signal bar - is the number of bars back to the last bar to signal a trade (stochastics are overbought or oversold, the bar before closed outside the k band)

Second last signal - is the bars back to the signal bar before the last one

Last signal direction- is the direction of the last signal bar (0=long, 1=short)

second last signal direction- is the direction of the signal bar before the last one (if both are in the same direction, the rsi filter comes into play)

pips moved - this is the max pips moved in the direction of the trade since the last signal bar (if this is past the tp level, it will not enter the trade on a retrace)

rsi filter - 1 means it will enter a trade even if it is in the same direction as the last one, 0 means it will not.

trading time - if it is 1 , it means your are in the time frame to be traded in (ie london, us, depending on your settings)

last entry - this is the price it should enter on if it retraces back, if it does not retrace back to that point before it reaches it's take profit point, it will not enter a trade.

last trade - the seconds since the last actual trade was entered with the same magic number and currency pair that the ea is on

last sig - the seconds since the last signal bar


Any way, I hope that is helpful.

and yes, you need the indicators (I think the only one that is not already in metatrader is the k channel one) in your experts/indicators folder (and may need to restart your platform after copying them there) , but you don't need them on your chart.

Could anyone trading this strategy post results every once in a while?

Hi Jeta

I try to post signals live in the trading room but dont want to disturb the guys trading the Expatt system..I hit 30pips ( my tgt) and stop most days.

here is a screen shot of the Asian session for this morning

cheers

paulus

Thanks Paulus,

I can't login to the chat room during the trading day. Please post your chart every once in a while.

Thanks again mate.

It doesn't look like that ea is putting any trades on for you. I will have to do some more work on it next week. This week and the first of next week, I am going to be too busy to even think.

Thanks david. I can't say yet whether it is or isnt working, I just finally cleaned up the indicators so we'll see if that changes anything. The one stoch color with bars that was posted here the settings were all wrong, so once I figured that out maybe that will affect the ea's trades.
I will try to watch it as much as I can tonight to find out if it's trading when it shouldn't or not trading when it should.
Hopefully some others are playing with it also.

I did not see any trades placed by the expert ...

thanks

The Ea is placing trades here but not all the time for some reason...

When it works its great hopefuly just a small glitch...cant help you im afraid as zero experience on MT4

cheers for helps

Paulus

Hi Paulus very well done on what you have given us with this systerm great work thank you very much.

I have 1 question what are you doing when news comes out any rules or are you just trading it when the siganls come.

Also big thanks to peej for the indi.

David-T

Hi DT

I know Im going to get shot for this but I just trade through news.. I dont stop or wait 30mins either side I just go for it but as mentioned before im aggressive ..

It stems from futures trading we never stopped for news

Paulus

Well, after a day I see that the EA DOES place trades, however yeah it needs some work.
I see like 20 trades in a row all losers, so it's almost like a machine gun firing on some of these, just keeps pumping them out right in a row, not sure why.
Anyhow, at least it's trying, and I appreciate the work that was done so far. Hopefully, we can get this thing trading accurately soon.

Just running a backtest, but is not placing any orders.

Same problem.
Aha, finally a error message "order send error 130"
what it supposed to mean?
I run it on ODL

Do you have any that happen on the same candle?

Thanks

That is usually because the stop,or take profit is set too close to the entry price, try raising your stop, and see if it fixes it. I am not sure how close they can be with ODL.

David,
Here is a screenshot of what it did. It goes on much further down below and above what I caught in the jpeg as well, but this should give you an idea of what is happening. Let me know if there's anything else I can help you with to figure this out.
thanks

ok, here is the second beta version of this ea. I think it is working better, but there are probably some more bugs.

Thanks all for the feedback.

Trading this manually today, and hit 30 pips already This will be the first day I hit 30. So now I am done, and can go to bed. 12:20 Am for me right now.

Hi Paulus thanks for the info i will give it try at my own risk it would make it simpler to do it this way not having to think about the news coming out all the time .

David-T

David

Thanks for your efforts on the EA I will lock and load

That is going to be quite a breakthrough if an ea is developed to consistently catch the trades as they present themselves. You guys are doing some really interesting work here. Really nice pip counts most of the time. Will follow this closely as it sure would help augment what I try and do. Good job Paul. You have some very astute people working on your team here. Have a great day. See you in the salt mines. X