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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