BeST_Keltner Channels Strategies EA is an MT4 Expert Advisor that is based on the method developed by Chester W. Keltner described in book “How To Make Money in Commodities” that Keltner called it the ten-day moving average trading rule.
Originally Keltner Channels uses for Central Line a 10-bars SMA of Typical Price and the 10-bars Average Range (High - Low) with a multiplication factor of 1 for constructing the Boundary Bands.
Later several known traders and authors have published modifications for Keltner Channels, using different averaging periods and methods for the Central Line and/or using a multiple of Wilder's average true range (ATR) for the bands.
The EA can make Long and Short trades according to the original method’s rules and all the known Variations of Keltener Channels in a total of 10 Strategies according to the Strategies of the corresponding MT4 Indicator while it can also use all the common Risk Management methods like SL, TP, Trailing Stop ,Time based Stop and Partial Close. It also offers as an option the additional use of 7 common Entry Filters in order to make sure that there will be taken trades only in the direction of the prevailing trend.
For every customer who has already purchased the BeST_Keltner Channels Strategies_EA there is a free offer of a light version of the BeST_Keltner Channels Strategies Indicator in order to display the Keltner Channels on Chart. Just send a private message after purchasing the EA in order to send you the indicator.
BASIC CHART SETTINGS
- Show Info Table
- Show Vertical Line for Current Trade's Signal Bar – for locating current trade’s Entry Signal bar
- Color of Vertical Line
- Input Your Initial Capital
- Select Your LotSize
- Select Max Slippage in pips
SL & TP SETTINGS
- Stop Loss Value (in pips) ( 0 = Inactive )
- Take Profit Value (in pips) ( 0 = Inactive )
# of bars for Time Stop ( 0 = Inactive )
BREAKEVEN STOP SETTINGS
- Use Breakeven Stop
- After how many pips of Profit move to Breakeven
- How many pips of Profit to lock in
- Use Partial Close
- % of Position for Partial Close
- Level for Partial Close
- Use Trailing Stop
- After how many pips of Profit use Trailing Stop
- Ammout of pips for Trailing
TRADING DAYS FILTER - for selecting Trading Days
STOP_EA BUTTON - for deactivating EA after closing the Current open trade (if there is any)
TRADING STRATEGY SETTINGS
KELTNER CHANNELS - for selecting out of 10 Keltner Channels Strategies and its Settings
- Select Keltner Channels Type
- Select Current Market Type
- Select Keltner Channels Strategy
ENTRY FILTERS SETTINGS - for selecting out of 7 Entry filters which one to use (if using any)