Super Keltner Forex Trading Strategy

The Super Keltner forex trading strategy is well-crafted to give market participants accurate buy/sell signals for any currency pair and any trading session.

Learn below how to setup this simple FX strategy in less than 15 minutes.

Chart Setup

MetaTrader4 Indicators: i_daywpr_v1_1.ex4 (default setting), Keltner_Chanel.ex4 (default setting)

Preferred Time Frame(s): 1-Minute, 5-Minute, 15-Minute, 30-Minute, 1-Hour, 4-Hour, 1-Day

Recommended Trading Sessions: Any (London, New York, Tokyo)

Currency Pairs: Any pair

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Buy Trade Example

Fig. 1.0

Strategy

Long Entry Rules

Initiate a buy entry if the following indicator or chart pattern get displayed:

  1. If price closes above the middle line of the Keltner_Chanel.ex4 custom indicator as seen on Fig. 1.0, after which price is seen to be trading along the upper outer line of the indicator, such a setup is said to be bullish, hence a trigger to buy the asset of choice.
  2. If the magenta line of the i_daywpr_v1_1.ex4 custom indicator break and hovers above the 0.00 signal level as illustrated on Fig. 1.0, it is an indication of upward price pressures i.e. a trigger to buy the specified forex pair.

Stop Loss for Buy Entry: Place stop loss below short-term support.

Exit Strategy/Take Profit for Buy Entry

Exit or take profit if the following rules or conditions are in place:

  1. If prices close below the middle line of the Keltner_Chanel.ex4 custom indicator during a buy signal, it is a trigger to exit or take profit without delay.
  2. If the magenta line of the i_daywpr_v1_1.ex4 custom indicator falls below the 0.00 level, it is an indication of weaning bulls power, hence an exit or take profit is recommended.

Sell Entry Rules

Initiate a sell entry if the following holds true:

  1. If price closes below the middle line of the Keltner_Chanel.ex4 custom indicator as illustrated on Fig. 1.1, after which price is seen to be trading along the lower outer line of the indicator, such a setup is said to be indicative of a bearish signal, hence a trigger to sell the asset of choice.
  2. If the magenta line of the i_daywpr_v1_1 custom indicator break and hovers below the 0.00 signal level as shown on Fig. 1.1, it is an indication of downward price pressures i.e. a trigger to sell the listed currency pair.

Stop Loss for Sell Entry: Place stop loss above short-term resistance.

Exit Strategy/Take Profit for Sell Entry

Exit or take profit if the following holds sway:

  1. If prices close above the middle line of the Keltner_Chanel.ex4 custom indicator during a sell signal, it is a trigger to exit or take profit straight away.
  2. If the magenta line of the i_daywpr_v1_1.ex4 custom indicator rises above the 0.00 level, it is an indication of halting bears power, hence an exit or take profit is recommended.

Sell Trade Example

Fig. 1.1

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About The Trading Indicators

The i_daywpr_v1_1.ex4 custom indicator is a modified Williams Percent Range indicator in which the indicator’s period is automatically calculated via the number of bars of the current day.

The Keltner_Chanel.ex4 is essentially a double average true range indicator with floating values below and above the 20-day exponential moving average.

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