Forex Keltner Channels Reversal Strategy comes as a blessing for modern daily traders. With this strategy you can scalp in short time frame charts like M15 and also can apply at H1, H4 or Daily charts for intraday trading purpose.
Forex Keltner Channels Reversal Strategy is based on Keltner Channels indicator which is supported by SHI Trend Signaler Dots, Stochastic Bollinger Bands and Short term trend indicators to make the strategy enough powerful to compete in modern financial markets.
Once you install Forex Keltner Channels Reversal Strategy in your Metatrader4 platform, your chart will look like the below image:
- SHI Trend Signaler Dots: You’ll find this indicator as color dots across the chart. Blue/Green color dots indicate bullishness and Red color dots express bearishness of the market.
- Short Term Trend Indicator: It appears as Red or Blue color line above or below the bars to signal the momentum direction of current trend. Blue line indicates uptrend and Red line indicates downtrend respectively.
- Keltner Channels Indicator: It looks like a Bollinger Band with a upper and lower channel and a middle line operated by ATR 2.0, period 21. This channel is used to measure the possible length of the momentum.
- Stochastic Bollinger Bands: It doesn’t look like usual Bollinger Bands. For the clearer presentation, it has been separated from main chart and stated in a separate chart window. A Red bar indicates bearishness and Aqua bar signals Bulls control of the market.
Generally Accepted Use:
- SHI Trend Signalers Dots turns into Blue or Green color
- Short Term Trend indicator turns Blue
- Price is above and supported by lower or middle Keltner Channels
- Stochastic Bollinger Bands turns Aqua
- Stop loss below the signaling bar and Take profit when all the indicators turn into Red color
- SHI Trend Signalers Dots turns into Red color
- Short Term Trend indicator turns Red
- Price is below and rejected by higher or middle Keltner Channels
- Stochastic Bollinger Bands turns Red
- Stop loss above the signaling bar and Take profit when all the indicators turn into opposite color
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