THE JOY OF CANDLESTICK TRADING - a Learning Experience

[Sweet Pip]

Wow, look at all those keltner indicators coming out of the woodwork

Originally Posted by jlmac27

I am dumber than I appear I guess... I have downloaded the file.But I get lost from there.I can bring it up in metaeditor.....then I don't know what to do next......

Make sure you have saved the indicator into the right MT4 folder/directory which I believe should be the "indicators"...I'm at work so just off the top of my head...otherwise you may be saving it in the experts folder/directory by accident.

Then you have to exit MT4 and then restart it again so it will show up in your list of indicators....don't know why they don't have a refresh button instead, but then I don't work for them or they would

Hope that helps

[Airborne]

This one has more setting if your into ATR... I got it off the web somewhere.

[Airborne]

Well since you guys are talking about bands. Here is an interesting combo.

Daily TF with STARC/BB bands

Signal when BB croses Starc enter

[Airborne]

Here is example gbpusd daily:

[Airborne]

Last screen shot is daily USDCHF. Notice when the BB gets spread out from STARC.

[Sweet Pip]

Great...now I have to go find a starc indicator...

[daedalus]

I'm an idiot... what the hell is starc?

[tymen1]

To Daedalus, Airborne and Sweet Pip.

Thank for helping Jlmac27 with the Keltner on the MT4 platform. I am not really familiar with that program so I would be fiddling around trying to help.

Your help allows me to get on with the thread.



To Airborne :

Please be careful that you are not "cherry picking" your trades on the Starc bands. It is not just that easy to trade probability bands. Sometimes the stop losses take all your profits away.



To Daedalus :

Starc bands :

Capture Profits Using Bands And Channels

[tymen1]

I am at rest so I will now add my first chart to show a real life senario of the Keltner channel prediction approach.

Study the chart below.

There are 2 separate predictions.

Each one has a little vector diagram in the top corner.

My Keltner channel has been manually coloured full grey in Microsoft Paint to allow ease of clarity.
The middle Keltner band is easy to see this way - it is yellow.
The middle Bolinger band is blue. (can you see it?)

Further notes below the chart >>>




By tymen1 at 2008-03-15

>>> In the 1st prediction you can see that the middle BB (blue line) is going up and also the MACD is going up.
Hence the resultant is UP and the candles are green and right on the upper keltner channel.
In the 2nd prediction, the middle Bolinger band (BB) (blue line), is basically level and the MACD is going down rather rapidly.
Hence the resultant is going down too, and the candles are red and hovering between the lower keltner channel and the middle keltner channel.

The reason for the hovering between is because one of the vectors in the 2nd case is level.
Had both vectors been going down, the candles would have been walking the lower channel.

From here on I use BB to mean Bolinger bands
and
KC to mean Keltner channel

[daedalus]

Tymen - Thanks man! I can't belive i've been doing this for so long and I had never heard of a STARC band before. Amazing. Learn something new everyday I suppose?

Great tutorial post as always! Keep it up!