Grid Keltner Channel EA

See it before you trust it: load Grid Keltner Channel EA into the MetaTrader 5 Strategy Tester, switch on visual mode, and watch it wait while price walks calmly inside its channel, then arm a grid only when a candle that was thrown outside the band closes back inside it.

A CHANNEL THAT BREATHES WITH THE MARKET.

Most bands are drawn with standard deviation, so one huge candle can blow them wide open. A Keltner Channel is built differently: its centre is an exponential average of the typical price, and its outer lines sit a set number of Average True Ranges above and below that centre. Because true range already includes gaps and wicks, the channel widens when the market gets busy and narrows when it goes quiet, at a steady pace and without sudden jumps. Grid Keltner Channel EA uses that channel as the one visible reason to begin each grid cycle: a close outside the band followed by a close back inside it. Once a cycle is running, a complete grid management engine takes over and keeps shrinking the oldest exposure through group closures and partial slices.

At a glance

• A BUY cycle can begin only when one bar closes below the lower band and the next closed bar returns inside it; a SELL cycle needs the mirror move at the upper band. Only closed bars are read, so nothing repaints.

• The channel is computed inside the EA from the built-in MetaTrader 5 Moving Average and ATR. No custom indicator file is needed and nothing has to be installed.

• New in this product: the Band Pierce Guard. A candle that only brushes the band is not a real excursion. The EA measures how far the outside bar's low (for a BUY) or high (for a SELL) went beyond the band, in ATR, and ignores the return unless that pierce reaches your minimum.

• The Re-entry Depth Guard checks the return itself: a close that is back inside by a hair is usually still undecided, and a close that snaps far inside on one violent candle is usually a whip. Both are skipped.

• An optional slope rule can demand that the midline already points the trade's way, and an optional slow EMA can confirm or fade the larger trend.

• On the live chart the midline and both bands are drawn in the main window, and arrows mark each candle where a cycle was armed.

• Profits are banked by groups of the oldest and newest orders, and a heavy old order is retired in partial slices instead of waiting for a full return.

• No stop loss and no forced close-all. A reached limit refuses new levels while the existing book keeps being managed.

• Works on hedging and netting accounts, with every limit exposed as an input.

FIRST STEPS

Begin on EURUSD H1 or XAUUSD D1 with the default 0.01 lot and the additive ladder. For the first session choose Scan only in RunMode: the panel then shows every plan the EA would carry out without sending a single order, and one button switches it to Armed when you are ready. Run the Strategy Tester on your own broker's data before going live, because spreads, swaps and commissions differ from broker to broker. On a small balance keep the starting lot and let the tester show you how deep the book can grow on your symbol.

Why a Keltner Channel

With the defaults, the midline is a 20 bar exponential average of the typical price, the mean of high, low and close, and each band sits two 10 bar ATRs away from it. Two useful things follow. First, the width of the channel is a direct picture of current volatility measured in the same units the grid spacing uses, so a trip outside the band means the same thing on a quiet pair and on gold. Second, a close outside the band is a stretched market, and the first close back inside is the moment the stretch starts to release. For a grid that matters: the first level opens after the push has already paused, not in the middle of it, so fewer cycles start against a runaway candle.

The improvement in this release

The Band Pierce Guard is this EA's own addition. On every re-entry the EA goes back to the bar that closed outside and measures the distance from the band to that bar's extreme, divided by the ATR of the same bar so one setting fits currencies, metals and indices. If the excursion was only a graze, the return is not treated as a signal. Set the minimum to 0 to switch the guard off. The panel shows the live pierce reading next to the live depth reading, with OPEN or HOLD for each guard. Margin-level timeframe safety is included and is off by default.

One cycle, step by step

1. The read. On every closed bar the EA reads the midline EMA and the ATR from the built-in MetaTrader 5 functions and builds both bands. The forming candle is never used, so history shows exactly what the EA saw.

2. The excursion. The previous bar must have closed outside the channel: below the lower band for a BUY, above the upper band for a SELL.

3. The re-entry. The signal bar must close back inside the same band.

4. The Band Pierce Guard. The outside bar's extreme must have gone beyond the band by your minimum ATR fraction.

5. The Re-entry Depth Guard. The returning close must sit between your minimum and maximum distance inside the band, measured in ATR.

6. The optional slope rule and trend filter. The midline can be asked to point the trade's way, and a slow EMA can confirm the side, fade it, or stay off.

7. The rhythm. A quiet gap of bars between accepted signals stops a choppy session from starting one cycle after another, and a signal stays valid for a few bars if a level cannot be placed at once.

8. The ladder. Levels are spaced by fixed points or by ATR, with a floor, an upper limit and an option to freeze the distance for the whole cycle. BUY and SELL grids can run side by side or in one direction only.

9. The harvest. The closer searches for groups of the oldest and newest orders and closes a group as soon as its combined result, after swap and commission, beats your target. When the oldest order is still too heavy, only a slice of it is closed, paid for with profit already available.

10. The safety checks. A reopen guard blocks any closure that would reopen the same level straight away. Every leg is checked against the deal history, failed legs go into a retry queue, and a plan is dropped if the book changes between the scan and the send.

11. The optional hedge cycle. Off by default. When switched on it holds a balanced pair on a symbol you choose and retires it in equal slices, funded by a small surcharge on closures the grid is already making.

The panel

The panel sits on the left of the chart and keeps the right side and the price scale clear. It shows the symbol and magic number, a status pill (ARMED, SCAN ONLY or PAUSED), grid mode, lot step, spacing, banked result, the book in lots with its net result, the closing plan for each side with its own close button, and the order list. The KELTNER PULSE row shows the midline period, where price sits inside the channel as a percentage (0 is the lower band, 100 the upper band, above 100 or below 0 means outside), whether the midline is rising or falling, and how many bars ago the last close outside the channel happened. The PIERCE GUARD row shows the last bar's pierce beyond the nearer band and the live re-entry depth, each with OPEN or HOLD, plus the trend filter. Buttons switch Armed / Scan only, Pause / Resume, chart marks and slicing. The Hedge Vault card is docked directly under the main panel and follows it when you drag or minimise. The panel scales with the screen and draws nothing in a non-visual backtest, so optimisation stays fast.

Protection you control

No stop loss and no forced close-all. A reached limit stops new levels; it never dumps the book at a bad moment.

Before each order the money check asks one plain question: is there enough free margin, with a safety buffer, for this order?

Limits on levels per grid, orders per side and lot per order keep the ladder bounded, and the lot ladder stops growing at the level limit.

On netting accounts the margin of the merged position is capped as a percentage of equity.

Optional margin-level timeframe safety moves the signal and the spacing to a higher timeframe when the margin level falls to your chosen levels, and moves back only after margin recovers past a cushion. Off by default.

Every copy isolates itself by symbol and magic numbers, so several charts never touch each other's orders or saved state.

Scan only mode shows every decision without sending any order.

Who it suits, and who it does not

It suits traders who like a volatility-aware channel as the one clear reason behind every new cycle, who would rather enter after a stretch has paused than chase it, who prefer many small closures to one distant target, and who will size the lot for their own account. It does not suit anyone who needs a stop loss on every order, a promised monthly figure, or a set-and-forget robot running large lots on a tiny balance.

Quick answers

Does it repaint? No. Signals come from closed bars only.

How is this different from Bollinger Bands or Envelopes? Bollinger Bands use standard deviation and Envelopes use a fixed percentage. A Keltner Channel uses Average True Range, which counts gaps and wicks, so its width changes smoothly with real trading range.

Do I need to attach a Keltner indicator? No. The channel is calculated inside the EA and drawn by it on the live chart.

Can I make the channel wider or narrower? Yes. Raise the multiplier for fewer, deeper excursions; lower it for more frequent ones.

Can I make it trade more or less often? Yes. Lower SignalBarsDelay, the multiplier or the guard minimums for more cycles; raise them or switch on the trend filter for fewer.

Every setting explained

Grid - how levels are opened

TradeMode - dual grid by default (BUY and SELL side by side), or one direction only.

GridSpacePoints - fixed distance between levels in points when ATR spacing is off (25).

GridSpaceMultiplier - 1.0 keeps levels evenly spaced; a higher value spreads deeper levels further apart.

MaxGridLevels - the most levels one grid may hold (1000).

UpDirectionIsBuy - decides which side an upward move belongs to.

EAMagicNumber - the ID written on this EA's grid orders (9754330).

GridOrderComment - the comment on each grid order (GKCE).

OneOrderPerBar - no more than one new level per bar.

Lot ladder

InitialLotSize - volume of the first level (0.01).

LotSizingMode - additive by default, or multiply.

LotMultiplier - in multiply mode, each level is the previous lot times this value (1.25).

LotAddStep - in additive mode, the volume added at each level (0.01; 0 means the starting lot).

MaxOrderVolume - the largest lot any single order may use (1.0).

UseAutoLot - scales the starting lot with the balance (off).

AutoLotBaseBalance - the balance that matches the starting lot (1000).

AutoLotAllowDecrease - lets auto lot go below the starting lot (off).

ATR spacing

GridSpacingMode - ATR by default, or fixed points.

ATRTimeframe - the timeframe volatility is measured on (current chart).

ATRPeriod - ATR length (14).

ATRSpacingFactor - spacing equals ATR times this value (1.0).

ATRBarShift - 1 uses the last closed bar.

ATRMinSpacingPts - the smallest allowed spacing in points (50; 0 means none).

ATRMaxSpacingPts - the largest allowed spacing in points (5000; 0 means none).

ATRFreezeOnStart - keeps one spacing for the whole cycle (off).

Profit target

DesiredProfitPerClosure - the base target in account currency (2.0).

ProfitMultiplier - scales the final target between 1.00 and 2.00.

ProfitTargetMode - scaled by default, so a bigger and deeper book must earn a bigger result.

ProfitVolumePower - how strongly closing volume lifts the target (1.0; 0 turns it off).

ProfitDepthBonus - extra target for each additional open level (0.10).

ProfitMaxMultiple - the cap on the scaled target as a multiple of the base (50).

ProfitMaxReachFraction - keeps the target within a fraction of one grid step so it stays reachable (0.50).

Fragment scanner

UseMultiLegScan - tests combinations of several orders before the simple pair (on).

MaxOldestLegs - the most oldest orders allowed in one closure (3).

MaxNewestLegs - the most newest orders allowed in one closure (6).

ScanPriority - how qualifying groups are ranked; most orders first by default.

NeverBankLessThanPair - a group must also beat the plain pair target (on).

RequireCloseVolumeExceedsTarget - the newest volume must outweigh the oldest volume (on).

MinCloseVolumeRatio - minimum ratio of closing volume to target volume (1.5).

Target slicing - partial closes

EnableTargetSlicing - closes a slice of the oldest order when the whole lot cannot be paid off yet (on).

FragProfitWeightPower - how profit is weighted per closing lot (1.5).

FragMinSlicePercent - the smallest slice as a percent of the target order (20).

FragAllowMultiCloser - lets several newest orders pool their profit to pay for one slice (on).

FragPreferFullClosure - a full closure wins over a slice whenever both qualify (on).

Reopen guard

ReopenGuard - blocks closures that would immediately reopen a level (step based).

ReopenGuardCushion - the safe distance as a fraction of one grid step (0.90).

Account protection

MinMarginLevelPercent - no new levels below this margin level percent (0 = off).

MaxAccountRiskPercent - no new levels above this floating loss as a percent of balance (0 = off).

NetMaxMarginPercent - on netting accounts, the largest margin of the net position as a percent of equity (5.0).

MaxTotalOrders - absolute cap on grid orders per side (1000).

Execution and verification

RunMode - Armed or Scan only; Scan only is the gentle first step.

CloseSequence - the order in which legs are sent; oldest first by default.

MaxSlippagePoints - maximum slippage (30 points).

MaxSpreadPoints - trading pauses above this spread (7500 points).

MinSecondsBetweenClosures - minimum pause between two closures on the same side (5 seconds).

CloseAttemptsPerLeg - send attempts before a leg moves to the retry queue (3).

VerifyTimeoutSeconds - how long a stuck leg keeps being checked (90 seconds).

DeferWhenMarketClosed - waits for the session instead of halting when the market is closed (on).

MarketClosedRetrySeconds - retry interval while the broker refuses orders (30 seconds).

AutoResumeAfterSeconds - clears a halt by itself after this many seconds (300; 0 waits for the panel button).

NoPartialRetryMinutes - tries partial closes again this many minutes after a broker refusal (15; 0 never).

AbortIfBookChanged - drops a plan if a leg changed between the scan and the send (on).

UseFullCommission - counts commission for both sides of a trade (on).

CommissionPerLot - fallback commission when history has none (0 reads it from history).

CloseOrderComment - the comment on closing deals.

Hedge cycle

EnableHedgeCycle - off by default.

HedgeSymbols - comma-separated list of hedge symbols; repeating one gives it more turns (XAGUSD).

HedgeSymbolRotation - how the next cycle's symbol is picked (per cycle).

HedgeMaxSymbolsInTester - limits rotation in the Strategy Tester only (2; 0 means no limit).

HedgeCycleLots - lots on each side of the balanced pair (0.01).

HedgeSliceLots - lots retired from each side per slice (0.01).

HedgeFragmentBonus - extra amount added on top of the slice cost (100).

HedgeBonusIsPercent - the bonus is a percent of the slice cost; false makes it a fixed amount (on).

HedgeMaxSurcharge - money cap on what one closure may be surcharged (0 = no cap).

HedgeMaxSurchargePercent - the most the hedge may raise any closure target, in percent (50).

HedgeMagicNumber - the hedge legs' ID; it must differ from the grid's (9754331).

HedgeReopenOnFinish - opens a fresh cycle when one finishes (on).

HedgeStartRequiresTrade - waits for the grid to open something before the first cycle (on).

HedgeIntegritySeconds - how often both legs are checked to be equal (5 seconds).

HedgeAutoRepair - repairs a lone leg automatically (on).

HedgeNakedAction - what to do with a lone leg; re-hedge by default.

HedgeMaxSpreadPoints - no hedge orders above this spread (0 = off).

HedgeSlippagePoints - maximum slippage on hedge orders (30 points).

HedgeAttemptsPerLeg - send attempts per hedge leg (3).

HedgeVerifyTimeout - how long a stuck hedge leg keeps being checked (90 seconds).

HedgeCommissionPerLot - fallback hedge commission (0 reads it from history).

HedgeOrderComment - the comment on hedge deals.

Weekly cash day

WeeklyCashDay - no new hedge cycle and no slice during your withdrawal window (off).

CashDayOfWeek - 0 Sunday, 1 Monday and so on (1).

CashCutoffHour - server hour after which no new slice is fired (21).

Panel and chart

ShowPanel - shows or hides the panel.

PanelX and PanelY - panel offsets from the chart edges (12 and 15).

PanelFontSize - base font size (9).

ShowArabic - adds an Arabic line under the English on the panel (on).

ShowChartMarks - draws plans and levels on the chart (on).

MaxTableRows - order rows shown per grid (13).

PanelCorner - the chart corner the panel is anchored to.

Entry trigger

EntryTriggerMode - the Keltner Channel strategy arms the first level by default.

SignalBarShift - 1 means the last closed bar.

SignalBarsDelay - bars that must pass between accepted signals (30; 0 accepts every signal).

SignalValidBars - a signal stays usable for this many bars (3).

SignalAllowBuy and SignalAllowSell - turn each direction on or off separately.

SignalReverse - inverts the direction (off).

Keltner Channel - the signal

InpKCEMAPeriod - the length of the exponential midline (20).

InpKCPrice - the price the midline is built on (typical price: high, low and close averaged).

InpKCATRPeriod - the ATR length that sets the band width (10).

InpKCMultiplier - how many ATRs each band sits from the midline (2.0).

InpKCMidSlopeAgree - when on, a BUY only while the midline rises and a SELL only while it falls (off).

InpKCPierceMinATR - Band Pierce Guard: how far the outside bar's extreme must go beyond the band, in ATR (0.05; 0 = off).

InpKCDepthMinATR - Re-entry Depth Guard: the smallest distance the returning close must sit inside the band, in ATR (0.05; 0 = off).

InpKCDepthMaxATR - Re-entry Depth Guard: the largest accepted distance inside the band in ATR, so violent snaps are skipped (1.50; 0 = off).

InpKCTrendFilter - 0 off, 1 trade with the EMA side, 2 trade against it as a fade.

InpKCTrendMAPeriod - the trend EMA length (200).

InpShowSignalArrows - arrows on the candles where a cycle was armed (on).

InpShowKCOnChart - draws the midline and both bands in the main window of the live chart (on; no extra sub-window, so the panel keeps the full chart height).

Debug

DebugMode - detailed journal logging (off).

Margin timeframe safety

UseMarginTFSafety - off by default.

Level1MarginPct and Level1TF - at or below 6000 percent margin level, work on M15.

Level2MarginPct and Level2TF - at or below 5000 percent, work on H1.

MarginTFHysteresisPct - how far margin must recover above a level before stepping back (500).

Honest expectations

A grid manages a position; it cannot see the future. Grid Keltner Channel EA is careful about when a cycle begins and works steadily to keep each cycle short and each old order shrinking, but a market can return inside the channel, pass every guard and still break out again the other way, keeping the book open for a long time. Pick a lot your account can carry through that, test on your own broker first, and let the Strategy Tester show you how it behaves before you trade it live. It runs on any symbol and timeframe and needs no DLLs and no extra files.

If it earns a place on your charts, a short and honest review of how it behaved on your account, good or bad, helps other traders make their choice.