5 Min Keltner System | Forex Indicator Download - MT4/MT5 Resources
Hi
I want to share my futures trading system with you, I got a lot of help from this BB and I thought it was time to share some of my stuff. I trade EOD on Forex and post the results under "Trading Journal"
I have been day trading US futures for 5 years and I think I will move to the big boys
This system works well on futures (mainly Russell 2000) and I personally use it on the 1 minute timeframe. Please note that while this is not a system of just 2 trades per day, this is a scalping system designed to accumulate points. When I trade with ER2, my stop loss for the day is +$500 per contract traded.
In the Forex market it could be 20 – 30 pips, it depends on you… but the goal is to make money consistently, not to sit in front of the computer all day.
I'm not sure how well it would work in Forex trading, but I think first it would have to be used on a 5 minute time frame.
It can send out up to 30 signals per day throughout the session and its main advantage is...if you work shifts or odd hours, you know you can still make some profit because the signals will still fire. No more upsetting the wife and letting the tea cool!
The system is easy to trade, although on er2 I trade forex with 1 pip and 3 pips, I have to make adjustments. I hope by trading it I can make any changes needed.
I will include my template and Keltner indicator at the end of this article, but it essentially uses 2 indicators and I use it on £$
The system looks simple and uses 1 time frame
Keltner belt
Length 10
times ATR 1
Stochastic
15.3.2 Use signal wire only..Set main wire color to "None"
15.3.3 Set lines to 80 and 20
long signal
Price closed below the bottom K line with Stochastic below 20
As long as Stochastic remains below 20, go long on the next bar
quit
If the price hits the mid-K line (white), move the stop loss to break even. If the price hits the top band line, take profits. Again flexible, it’s up to you.
stop
It's up to you...if going long, it could be the low of the entry candle or any number of pips you like.
Same goes for shorts.
Here are the screenshots from today as of publishing on £$5min
In my futures trading platform it is fully coded and traded via Interactive Brokers TWS via Ninja Trader. It can be traded via EA but I can't code so for me it's manual atm.
I don't mind changing or adapting to the system. To me, if you don't adapt or change the market, you will die.
I want to share my futures trading system with you, I got a lot of help from this BB and I thought it was time to share some of my stuff. I trade EOD on Forex and post the results under "Trading Journal"
I have been day trading US futures for 5 years and I think I will move to the big boys
This system works well on futures (mainly Russell 2000) and I personally use it on the 1 minute timeframe. Please note that while this is not a system of just 2 trades per day, this is a scalping system designed to accumulate points. When I trade with ER2, my stop loss for the day is +$500 per contract traded.
In the Forex market it could be 20 – 30 pips, it depends on you… but the goal is to make money consistently, not to sit in front of the computer all day.
I'm not sure how well it would work in Forex trading, but I think first it would have to be used on a 5 minute time frame.
It can send out up to 30 signals per day throughout the session and its main advantage is...if you work shifts or odd hours, you know you can still make some profit because the signals will still fire. No more upsetting the wife and letting the tea cool!
The system is easy to trade, although on er2 I trade forex with 1 pip and 3 pips, I have to make adjustments. I hope by trading it I can make any changes needed.
I will include my template and Keltner indicator at the end of this article, but it essentially uses 2 indicators and I use it on £$
The system looks simple and uses 1 time frame
Keltner belt
Length 10
times ATR 1
Stochastic
15.3.2 Use signal wire only..Set main wire color to "None"
15.3.3 Set lines to 80 and 20
long signal
Price closed below the bottom K line with Stochastic below 20
As long as Stochastic remains below 20, go long on the next bar
quit
If the price hits the mid-K line (white), move the stop loss to break even. If the price hits the top band line, take profits. Again flexible, it’s up to you.
stop
It's up to you...if going long, it could be the low of the entry candle or any number of pips you like.
Same goes for shorts.
Here are the screenshots from today as of publishing on £$5min
In my futures trading platform it is fully coded and traded via Interactive Brokers TWS via Ninja Trader. It can be traded via EA but I can't code so for me it's manual atm.
I don't mind changing or adapting to the system. To me, if you don't adapt or change the market, you will die.
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