Keltner Channel Strategy - Forex MT4 EA 29.05.

2019, 00)41

Keltner Channel Strategy

Really easy strategy which you can master with

just the basic knowledge. It provides really good
risk / reward output and Keltner Channel
Strategy gets really high winning rate.
TimeFrame: 5 min
Symbol: any major currency preferred EURUSD, GBPUSD
Risk: MAX 2% of account equity per order
Indicators:
Keltner Channels Indicator set to 40 Periods
Exponential Moving Average set to 8 periods

Keltner Channel Strategy Overview:

When you have the chart setup with Keltner Channel Indicator and
Exponential Moving Average you are all set to go. You should use this
strategy only on 5min timeframe. As well as you should have a good
Broker with really small spreads like HotForex. Once you are all set you
watch the market and wait for the EMA to be inside the Keltner Channel.
Now you wait for the PA (Price Action) to move outside the Channel and
then wait for EMA to break the Keltner Channel which should happen
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right after PA. Once EMA has broken the channel you should SELL (if
channel is broken downside) and you should BUY (if channel has broken
to upside).

Keltner Channel Strategy entry and exit rules:

BUY order should be placed when EMA crosses upper Keltner
channel
SELL order should be placed when EMA crosses bottom Keltner
channel
SL (Stop Loss) should be set right on the middle of Keltner Channel
Indicator
TP (Take Profit) Option 1: should be fixed at 10 PIPs. (remember you
are on 5min chart)
TP (Take Profit) Option 2: you can set BE (Brake Even) when you
reach 10pips profit and let the profits run. Exit the trade when Price
Action hits back the Keltner channel or you can use Support &
Resistance lines for your exit.

Usually this will get you 1^1 or 1^2 risk / reward return which is good.

How to install Keltner Channel Strategy Template

in MetaTrader 4 / MT4:
`. Download/Copy/Save the TPL file into your C:\Program
Files\MetaTrader 4\templates folder (or change the folder to your
installation sometimes forex broker name)
a. Restart your MetaTrader 4 application (assuming itʼs currently open)
… or Launch your MetaTrader 4 application
d. Open the Template with Charts/Template
e. Locate the Template which you have just downloaded into the folder
stated in Step 1
f. TADA and your done!

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