KELTNER PRO REVIEW SUMMARY
Foreign Exchange Robot: KeltnerPRO
Software Programmer: Jared Rybeck
Scalping: Scalping 5 pairs on M5 and M15 charts
Forex Pairs: EURUSD, GBPUSD, AUDUSD, NZDUSD and USDCHF
Trading Platform: MetaTrader-4 (build 600 or later)
License: 1 Real Account License / Lifetime updates
Pricing: 199 USD for a Partial License or 499 USD for a Lifetime License
INTRODUCTION TO KELTNER PRO
KeltnerPRO is designed as a fully automated Forex trading system scalping 5 pairs on 2 timeframes, M5 chart for EURUSD and M15 for the rest pairs. The system works only on MetaTrader-4 and executes on average 1 trade per day. The system is programmed towards its long-term success and therefore chooses to trade very selectively. For some traders that may be considered as a disadvantage for some other traders the potential of constant profitability in the long-run is a serious matter and a top-priority. KeltnerPRO can operate in any PC with a good connection to the internet but the system’s developers recommend a VPS hosting running 24/7 for optimized performance.
NFA (US) Compliance: YES
KELTNER PRO PERFORMANCE (LIVE CHART)
KELTNER PRO ALGORITMH
KeltnerPRO algorithm is based on the principles of Keltner Channels. Keltner Channels is a technical analysis indicator applying a moving trend model and has been developed in the 1960s by Chester Keltner. Originally the Keltner Channels indicator was applied on commodities trading. The KeltnerPro trades within the Keltner channels using price reversals and by executing selective trades. The average won pips are about 30.
All trades are opened at the new bar open by using dynamic take-profit and stop-loss orders. KeltnerPRO applies trailing-stops within a system called Positive Profit Flow Lock (PPFL).
The EA is programmed to trade five (5) Forex pairs on multiple timeframes. In order to achieve optimized results the Forex Robot must be set as follows:
- M15 Chart: EURUSD
- M5 Chart: GBPUSD, AUDUSD, NZDUSD, USDCHF
KeltnerPRO executes on average 30 trades on a monthly basis. The system is designed to take action only if a specific set of rules and conditions are met and that is why it may stay inactive for a whole week and then execute 5-6 trades in a single trading day.
- KeltnerPRO offers the following parameters (default settings are automatically entered)
- StartingLot –Enters the value of a fixed lot number for every trade. Note that the system will only apply a fixed-sized lot if the parameter Increasing_Lot is FALSE.
- Increasing_Lot –(TRUE/FALSE) If TRUE enable the KeltnerPro Money management system (TRUE by default).
- Risk Parameter – The Risk Parameter sets the number of lots that can be traded based on the Live Account’s balance. The default setting for RISK is 0.05 which means that the system will trade 5% of your total account balance in every single trade.
- Slippage – This parameter sets the maximum allowed slippage by the EA. That means if the slippage of your Forex broker exceeds this value the trade will be canceled by KeltnerPro.
- MaxOpenOrders – Sets the maximum number of trades that may be opened per chart simultaneously.
- Magic Number – This parameter forces KeltnerPro to identify and manage only its own trades. That is useful for trades executing manual and automated trades in the same live account.
KELTNER PRO REVIEW PROS
◘ Easy to start trading Forex Robot (includes installer plus default settings)
◘ KeltnerPRO can operate on any live account size, although the programmers recommend $200 minimum balance
◘ The system is programmed to trade based on Reward/Risk Ratio=2. That means the profit potential is twice larger than the loss potential.
◘ KeltnerPRO is a continuously updated software (free of charge)
◘ KeltnerPRO has shown a considerably positive long-term performance
◘ KeltnerPRO offers 2 months money back guarantee (guaranteed by Clickbank)
◘ KeltnerPRO team offers 24/7 customer support via email
KELTNER PRO REVIEW CONS
◘ KeltnerPRO Full License is pretty expensive to buy
◘ The Expert Advisor is designed to trade very selectively and may not execute many trades during a certain period if the conditions are not met
KELTNER PRO REVIEW CONCLUSIONS
The algorithm behind the EA system is pretty innovative and it is based on the Keltner Channels. The Expert Advisor trades selectively and only if some specific conditions and rules are met. That means you may witness one whole week without a single trade and afterwards 5-7 trades executed within the same day. The KeltnerPro is an Expert Advisor designed for long-term profits. Traders wishing to get rich in a matter of months should better choose another automated Forex software and not KeltnerPro. In overall KeltnerPro is a very interesting system worth $199 for Partial License and $499 for lifetime license. You can get a refund within 60 days if you are not happy with the system.
◙ KELTNER PRO REVIEW