Turtle Trade Channels by KıvanÇ fr3762

The main rule is "Trade an N-day breakout and take profits when an M-day high or low is breached (N must me above M)". Examples:
Buy a 10-day breakout and close the trade when price action reaches a 5-day low.
Go short a 20-day breakout and close the trade when price action reaches a 10-day high.
In this indicator, the red line is the trading line, and the dotted blue line is the exit line. Original system is:
Go long when the trading line crosses below close price
Go short when the trading line rosses above close price
Exit long positions when the price touches the exit line
Exit short positions when the price touches the exit line
Recommended initial stop-loss is ATR * 2 from the opening price. Default system parameters were 20,10 and 55,20.
Original Turtle Rules:
To trade exactly like the turtles did, you need to set up two indicators representing the main and the failsafe system.
Set up the main indicator with TradePeriod = 20 and StopPeriod = 10 (A.k.a S1)
Set up the failsafe indicator with TradePeriod = 55 and StopPeriod = 20 using a different color. (A.k.a S2)
The entry strategy using S1 is as follows
Buy 20-day breakouts using S1 only if last signaled trade was a loss.
Sell 20-day breakouts using S1 only if last signaled trade was a loss.
If last signaled trade by S1 was a win, you shouldn't trade -Irregardless of the direction or if you traded last signal it or not-
The entry strategy using S2 is as follows:
Buy 55-day breakouts only if you ignored last S1 signal and the market is rallying without you
Sell 55-day breakouts only if you ignored last S1 signal and the market is pluging without you
The turtles had a progressive position sizing approach that boosted their winnings. Once a trading decision has been made you should...
Developers: Dennis Gartman and Bill Eckhart
İndikatörü geliştiren: Dennis Gartman and Bill Eckhart
Script open-source
In pieno spirito TradingView, il creatore di questo script lo ha reso open-source, in modo che i trader possano esaminarlo e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricorda che la ripubblicazione del codice è soggetta al nostro Regolamento.
Per un accesso rapido a un grafico, aggiungi questo script ai tuoi preferiti: per saperne di più clicca qui.
YouTube (Turkish): youtube.com/c/kivancozbilgic
YouTube (English): youtube.com/c/AlgoWorld
Declinazione di responsabilità
Script open-source
In pieno spirito TradingView, il creatore di questo script lo ha reso open-source, in modo che i trader possano esaminarlo e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricorda che la ripubblicazione del codice è soggetta al nostro Regolamento.
Per un accesso rapido a un grafico, aggiungi questo script ai tuoi preferiti: per saperne di più clicca qui.
YouTube (Turkish): youtube.com/c/kivancozbilgic
YouTube (English): youtube.com/c/AlgoWorld