The Keltner Trader indicator uses the Keltner channel. The product combines price action with the Keltner channel, checking pin bars and “Absorption” patterns around channel lines. The indicator is also equipped with four filters, including Currency Strength Meter (currency strength meter) for high-probability trading.

The Keltner Channel is a volatility channel composed of an exponential moving average and the Average True Range indicator. The EMA line (usually 20) determines the trend direction, while the Average True Range is used to determine the upper and lower boundaries of the channel. The Keltner channel is similar to the Bollinger Bands, but the latter use standard deviation to determine the channel distance, while the Keltner channel uses ATR to determine the channel distance.

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Formula:

Midline: 20-day exponential moving average

Channel Top line: 20-day EMA (ktdx ATR(10))

Channel Bottom line: 20-day EMA – (ktdx ATR(10)),

where ktd is the channel deviation, usually 2.0

• Keltner Trader trades breakout and reversal patterns around channel lines
• Confirmation signals are not redrawn
• Preliminary signals before confirmatory
• Four trading filters for high-probability trading
• Currency Strength Meter: Determines the strength of a pair using a 28-currency basket. This allows you to sort signals with sufficient momentum to achieve the target profit.
• Trend Filter: The indicator uses the 200 moving average line (optional) as a trend filter. This is a popular trend filter used by experienced intraday traders.
• Trend Strength Filter: Uses ADX to measure the trend stage to avoid entering the market at the end of the trend.
• Primary Filters: The indicator has built-in momentum filters using RSI and volume to make sure that the current movement has sufficient momentum and is not false.
• The support and resistance lines are used as the stop loss level.
• The indicator displays the ATR value, which serves as the target profit level.
• Timeframe: All timeframes are less than D1.
• Trading pairs: All pairs.

• Currency Strength Meter: Determines the strength of a pair using a 28-currency basket. This allows you to sort signals with sufficient momentum to achieve the target profit.
• Trend Filter: The indicator uses the 200 moving average line (optional) as a trend filter. This is a popular trend filter used by experienced intraday traders.
• Trend Strength Filter: Uses ADX to measure the trend stage to avoid entering the market at the end of the trend.
• Primary Filters: The indicator has built-in momentum filters using RSI and volume to make sure that the current movement has sufficient momentum and is not false.

• BARS: show indicator
• Keltner Middle line Period: the period of the middle line of the Keltner channel (the formula above is used)
• ATR Period: ATR period (the formula above is used)
• ktd: channel deviation (the formula above is used)
• Show Channel Breakout (true/false): enable/disable breakout signals
• Enable Normal Breakout (true/false): normal breakout mode
• Enable Engulfing Pattern Breakout (true/false): the “Absorption” pattern breakout mode
• ATR_Breakout_Ratio: minimum breakout distance
• ATR_Period: ATR period for calculating profit and breakout ratio
• Show Channel Reversal (true/false): reversal signals
• Enable Normal Reversal (true/false): normal U-turn mode
• Enable Engulfing Pattern Reverse (true/false): reversal of the “Absorption” pattern
• Enable Pinbar Reverse Pattern (true/false): pin bar reversal
• Give Pre-signal (true/false): enable/disable pre-alarms
• Use MA Trend Filter (true/false): Use a moving average trend filter
• MA Period: the period of the moving average filter
• Confirm Alerts with currency Strength (true/false): confirm alerts with currency strength (signal filter/alert filter)
• Minimum Currency Strength offset: minimum shift of currency strength
• Use Trend Strength Filter (true/false): trend strength filter
• Display Trend Strength Panel (true/false): trend strength panel
• Display Currency Meter Panel (true/false): currency panel
• Display ATR: ATR panel
• Show Support and Resistance (true/false): support/resistance lines on the chart
• Display Title colors: panel title colors
• Display Text colors: panel text colors
• Sound_Alert: sound alert
• Email_Alert: Email alert
• Phone_Alert: Alert to a mobile device

Notes:

1. Try to use the strength of the currency when sorting signals. This is the essence of the whole system.

2. Since MetaTrader 4 does not support multi-currency testing, the strength of the currency in the strategy tester will be indicated incorrectly, since only one pair is checked in the tester, while 28 pairs are checked in real trading.

3. Some types of signals and filters are disabled by default, you can enable them in the menu.

Good luck and happy trading!

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