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.
Note
For every customer who has already purchased the BeST_Keltner Channels Strategies_EA there is an offer of a helpful 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.
Input Parameters
== 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
== TRADES' PARAMETERS - selecting your Initial Capital, LotSize and the Max Slippage
== RISK MANAGEMENT SETTINGS - selecting parameters for SL & TP, TIME BASED STOP, BREAKEVEN STOP, PARTIAL CLOSE, TRAILING STOP, TRADING DAYS FILTER and STOP_EA BUTTON
== TRADING STRATEGY SETTINGS - for selecting Keltner Channels and Market Type and the corresponding Strategy
== ENTRY FILTERS SETTINGS - for selecting out of 7 Entry filters which one to use (if using any)
