The Keltner Channels Signal Alert indicator for MT4 looks for the most profitable trend based on the Keltner Channels technical indicator.
The channel consists of a blue, yellow, and purple line. Strong trends will usually occur when the price moves outside of the Keltner Channel.
This special version of the Keltner Channel will alert you when the trend changes.
There are 4 possibilities:
Bullish Strong, bullish weak, bearish strong, and bearish weak.
- A bullish strong signal represents a buy trade opportunity.
- A bearish strong signal represents a sell trade opportunity.
Be sure to confirm the suggested trade issued by the Keltner Channels Signal Alert indicator with other technical indicators or with price action.
Furthermore, the Keltner Channels indicator displays the following MT4 account info (can be turned off).
- Broker name
- Account number
- Trade Mode
- Leverage
- Balance
- Equity
Free Download
Download the “KeltnerChannels.mq4” MT4 indicator
Indicator Chart (USD/CHF M1)
The USD/CHF 1-Minute chart below displays the Keltner Channels Signal Alert Metatrader 4 indicator in action.
Basic Trading Signals
Signals from the Keltner Channels Signal Alert MT4 indicator are easy to interpret and go as follows:
Buy Signal: Initiate buy order when the Keltner Channels Signal Alert MT4 indicator suggests you do so.
Confirm the possible buy trade with other technical indicators or with price action methods. Place a stop-loss below the lower Keltner Channels purple line.
Sell Signal: Initiate a sell order when the Keltner Channels Signal Alert MT4 indicator suggests you do so.
Confirm the possible sell trade with other technical indicators or with price action methods. Place a stop-loss above the upper Keltner Channel’s blue line.
Trade Exit: Use your own method of trade exit.
MT4 Keltner Channels Signal Alert + Kijun Candles Trend Scalping Strategy
This scalping strategy combines the Keltner Channels Signal Alert MT4 Forex Indicator with the Kijun Candles Trend MT4 Indicator.
The Keltner Channels Signal Alert shows four types of signals in the upper left corner: Bullish Strong, Bullish Weak, Bearish Strong, and Bearish Weak.
Bullish Strong indicates a buy opportunity, while Bearish Strong signals a sell opportunity.
The Kijun Candles Trend confirms the overall trend with blue candles for a bullish trend and red candles for a bearish trend.
This strategy is designed for very short timeframes, M1 and M5, allowing scalpers to quickly enter trades aligned with both momentum and trend direction.
Buy Entry Rules
- Kijun Candles must be blue, indicating a bullish trend.
- Keltner Channels Signal Alert must show a Bullish Strong signal.
- Enter long at the open of the next candle after the Bullish Strong signal appears, while candles remain blue.
- Place a stop loss a few pips below the recent swing low or recent support area.
- Set take profit at 1.5 to 2 times the stop-loss distance, or exit if Kijun Candles turn red or a Bearish Strong signal appears.
Sell Entry Rules
- Kijun Candles must be red, indicating a bearish trend.
- Keltner Channels Signal Alert must show a Bearish Strong signal.
- Enter short at the open of the next candle after the Bearish Strong signal appears while candles remain red.
- Place a stop loss a few pips above the recent swing high or resistance area.
- Set take profit at 1.5 to 2 times the stop-loss distance, or exit if Kijun Candles turn blue or a Bullish Strong signal appears.
Advantages
- Combines momentum-based signals from Keltner Channels with trend confirmation from Kijun Candles.
- Suitable for very short timeframes (M1, M5) for multiple scalping opportunities per session.
- Clear visual signals simplify entry and exit decisions, reducing subjectivity.
- Works across multiple currency pairs with high liquidity.
- It can be used during active market sessions, such as London or New York, for stronger moves.
Drawbacks
- Frequent signals on very short timeframes may produce false entries during choppy or sideways markets.
- Requires constant monitoring due to fast-paced M1 and M5 charts.
- Smaller pip targets mean multiple trades may be necessary to achieve significant profits.
- Over-reliance on signals without context of support/resistance levels may reduce accuracy.
Case Study 1
On EURUSD M1 during the London session, Kijun Candles were blue, indicating a bullish trend.
The Keltner Channels Signal Alert showed a Bullish Strong signal.
The trader entered long at the next candle with a stop loss of 5 pips below the recent swing low and a take profit of 10 pips above.
Within 10 minutes, the price moved up and reached the take profit.
Both indicators remained aligned throughout the trade, resulting in a clean scalp.
Case Study 2
On GBPUSD M5 during the New York session, Kijun Candles were red, showing a bearish trend.
The Keltner Channels Signal Alert displayed a Bearish Strong signal.
The trader entered short at the next candle with a stop loss of 8 pips above the recent swing high and a take profit of 16 pips below.
Price fell steadily over 25 minutes and hit the take profit.
The trend remained aligned with both indicators, validating the setup.
Strategy Tips
- Trade during active market sessions to take advantage of higher volatility and stronger trends.
- Always confirm that both the Keltner Signal and the Kijun Candles align before entering a trade to reduce false signals.
- Keep position sizes small to manage risk since M1 and M5 charts move quickly.
- Consider checking higher timeframes to understand the overall market trend before taking scalp trades.
- Skip trades if signals occur near major support or resistance to avoid whipsaws.
Download Now
Download the “KeltnerChannels.mq4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (period calculation, display alerts, email alert, display trade info) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: trend signals
