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Double Keltner ATR Bands Forex Scalping Strategy
This system is based on Keltner ATR indicator and this indicator is able to identify reversals. This is useful on a 15- minute timeframe or higher and works in any currency pairs. Use this during 17:00 PM GMT to 8:00 AM GMT.
Forex indicators:
- Keltner ATR Band (MA period 50, ATR Multiplier 3.75)
- Keltner ATR Band (MA period 50, ATR Multiplier 2.75)
- Stochastic oscillator (14, 3,3, overbought above level 80, oversold below 20 level)
Sell Entry:
- The candle must close above the top of the Keltner ATR band.
- The price must reverse with a down bar that closes into the channel.
- The stochastic indicator must cross downward.
Buy Entry:
- The candle must close below the bottom of the Keltner ATR band.
- The price must reverse with an up bar close that closes into the channel.
- The stochastic indicator must cross upward.
Exit position:
- Profit Target ratio 1:1 stop loss , if stop loss is 10 pips profit target is 10 pips, or quick take profit.
- Place initial stop loss of 8 pips above or below the entry bar.
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