In this post I will be reviewing the Keltner Pro Forex Robot. Keltner Pro is a fully automated forex trading system for use on the free MetaTrader 4 trading platform. As the name suggests, the strategy is built around keltner channels but don’t not worry if this does not make sense to you, the Keltner Pro Forex Robot comes with a quick and easy to understand setup guide so you can have it running on MetaTrader 4 within minutes.
Keltner Pro Trading Strategy
The automated trading system incorporated into the robot uses keltner channels with some unique customisations to these channels. Keltner channels are very well respected indicators used for price/chart analysis that are based on volatility envelopes that are placed above a specified moving average.
Average True Range (ATR) is used to set the distance of the channels thus helping to ensure that they are dynamic and a reflection of the current market conditions.
Keltner channels are primarily used to identify reversals with a breakout of the channels in the channel direction. Keltner Pro will try and lock in profits at the best possible opportunity and trigger a trailing stop to manage the trade.
Keltner Pro Back Testing
There are no back tests published on the website which is disappointing. It would have been useful for potential users to see 99% modelling quality back tests using Birts TDS in the MT4 strategy tester. This could have given an idea of the historical performance but of course would be no guarantee of future performance. For the upmost accuracy, back tests can be conducted using real tick data, variable spreads and including commission, swaps and slippage.
Keltner Pro Live Results
Keltner Pro Summary
The Keltner Pro Forex Robot can be up and running on your account in minutes – a simple download, install and run process makes this forex robot accessible to everyone. It runs on 5 currency pairs: EURUSD, GBPUSD, AUDUSD, NZDUSD and USDCHF. Keltner Pro comes with a 60 day money back guarantee, dedicated support and free updates for life.