Keltner Scalping with double Dynamic Zone RSX Trading System For MT4
Table Of Contents:
- Keltner Scalping with double Dynamic Zone RSX Trading System For MT4
- The Keltner Scalping with double Dynamic Zone RSX Trading System For MT4 – Long positions
- The Keltner Scalping with double Dynamic Zone RSX Trading System For MT4 – Short positions
- Is the Keltner Scalping with double Dynamic Zone RSX Trading System For MT4 profitable?
Please note: This strategy was publicly published in the trading community and is free to use. We do NOT make an attempt to decide if this strategy is profitable or not, because we know that the major factors regarding trading results are the skills/experience of the trader who executes the strategy. Therefore, we are mainly explaining the components and rules of the strategy. If applicable, we are highlighting advantages, disadvantages and possible improvements of the strategy.
The Keltner Scalping with double Dynamic Zone RSX Trading System For MT4 is a trend following system which somehow seems a bit complicated compared to any of the other similar trading strategies that we have come across. This is probably because of the fact that the Keltner scalping with double dynamic zone RSX trading system makes use of a choice of indicators that do not clearly signal the market information.
This trading system makes use of a combination of both standard regular indicators as well as a custom indicator. Firstly, on the price chart we have the standard Keltner channel indicators followed by a moving average indicator. The moving average indicator is based on a setting of 89. In the first sub window of the Keltner scalping with double dynamic sonar SX trading system, we have the standard stochastics oscillator.
Finally, in the second sub window we have the double dynamic zone RSX indicator. If you closely observe, both the stochastics oscillator and the double dynamic zone RSX indicator look somewhat similar. This is where the confusion comes from in some ways.
Because of the similarity between both these oscillators, the trading signals are never In Sync. It is only in rare locations where you will see that the stochastics oscillator also confirms there turning points in price as signaled by the double dynamic zone RSX indicator.
Secondly, it can also be a bit confusing because the stochastics oscillator is set to be a bit more sensitive. Therefore, you will see even short-term turning points in the price. However, this is not the case with the double dynamic Zone RSX indicator which tends to lag and therefore gives fewer signals.
The Keltner scalping with double dynamic zone RSX trading system Has a trading template which is quite heavy to use. Another point to note is that the double dynamic zone RSX indicator works only when you also install the DLL indicated that comes with this trading system.
Let's now take a look at how you can trade long and short positions using the Keltner scalping with double dynamic zone RSX trading system for MT4.
The Keltner Scalping with double Dynamic Zone RSX Trading System For MT4 – Long positions
To take a long position using the Keltner scalping with double dynamic zone RSX trading system, traders should look for signals for an uptrend. This means, that price action should be moving above the blue moving average line. This signals that the markets are moving higher.
Following this, you will then look to the Double dynamic indicator. Here, the oscillator should be turning higher from the lower price channel. Following this, you should also look to the confirmation of the Stochastics oscillator as well.
The possibility of both the indicators signaling the same do not occur at the same time. Therefore, there needs to be a bit of flexibility. Upon confirmation, you can take a long position at market. Set your stop loss to the recent low. You can make use of the calculated risk to reward ratio and set your take profit level accordingly.
It is ideal to split your positions into multiple trades so that they are automatically close out. You can move your stop loss to break even after the first trade is closed.
The Keltner Scalping with double Dynamic Zone RSX Trading System For MT4 – Short positions
To take a short position using the Keltner scalping with double dynamic zone RSX trading system, traders should look for signals for a downtrend. This means, that price action should be moving below the blue moving average line. This signals that the markets are moving lower.
Following this, you will then look to the Double dynamic indicator. Here, the oscillator should be turning lower from the upper price channel. Following this, you should also look to the confirmation of the Stochastics oscillator as well.
The possibility of both the indicators signaling the same do not occur at the same time. Therefore, there needs to be a bit of flexibility. Upon confirmation, you can take a short position at market. Set your stop loss to the recent high. You can make use of the calculated risk to reward ratio and set your take profit level accordingly.
It is ideal to split your positions into multiple trades so that they are automatically close out. You can move your stop loss to break even after the first trade is closed.
Is the Keltner Scalping with double Dynamic Zone RSX Trading System For MT4 profitable?
Overall, we find that the Keltner scalping with double dynamic zone RSX trading system is a trading strategy that can be used by professional traders alone. The trading system is somewhat complex especially if you pay attention to all the indicators that are used. This can at times, lead to what is known as analysis paralysis. You will not always find the perfect trading signal where all the indicators are aligned the same way.
But, if you strip away the complexities in terms of the custom indicators that are used in the Keltner channel scalping with double dynamic zone RSX trading system, it is merely a trend following trading system. However, traders can trade with the system in different ways. The methods outlined in this article show only one of these methods. However, depending on one's imagination and experience with the indicators used, you can further find different ways of trading with this strategy.
Because of the number of indicators used and the fact that it makes use of the DLL files as well, the trading template that comes with the Keltner scalping with double dynamic zone RSX trading system is a bit heavy. Therefore, traders need to bear this in mind if they want to use this trading template to monitor multiple instruments at the same time. Interestingly though, the Keltner scalping with double dynamic zone RSX trading system does not really give you an edge in the market. As a result, it is up to the trader to decide whether they want to make use of this trading system or not.
Download the complete system description and the files here:
Partially Automated Trading Besides Your Day Job
Alerts In Real-Time When Divergences Occur
