Keltner Channel With Stochastic Forex Scalping Strategy

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Keltner Channel With Stochastic Forex Scalping Strategy

This is a scalping system that is based on Keltner channel and Stochastic indicator. This system is useful in a 15-minute timeframe or higher and works on any currency pairs.

Forex indicators:

  • Keltener Channel indicator
  • Stochastic indicator (28,5,3,) with Moving Average 10 period, and
  • Bollinger Bands (10, deviation 1).

Long Entry:

  • The price should be outside the Keltner bands.
  • The stochastics should be outside the Bollinger bands and it must cross back up the middle of Bollinger Bands and must be below 35 level.
  • Enter long trade when these 2 conditions are met.

Short Entry:

  • The price should be outside the Keltner bands.
  • The stochastics should be outside the Bollinger bands and it must cross the middle bands of the Bollinger and they must be above the 65 level.
  • Enter short trade when these conditions are met.

Exit Position:

  • Exit at the middle band of the Keltner.
  • Quick target profit at 8-12 pips but it also depends on the currency pairs.
  • Place initial stop loss 10 pips above or below entry bar.

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