Forex

PZ Turtle Trading MT5


The Turtle Trading Indicator implements the original Dennis Richards along with Bill Eckhart trading system, commonly known as The Turtle
Trader. This trend following system relies on breakouts of historical highs and lows to take and close trades: it’s the complete
opposite to the “buy low and sell high” approach. The primary rule is “Trade an N-day breakout and take profits when an M-day high or low is
breached (N must me over M)”.  [

installation
Guide
| Update
Guide
| Troubleshooting
| FAQ
| All
Products
]

The Entry Strategy

The Turtles learned two breakout variants or “systems”. System One (S1) utilized a 20-day cost breakout for entry. However, the entry was
filtered by a rule that was designed to increase the odds of catching a big trend, which states that a trading signal should be ignored if
the last signal was profitable.

But this filter rule had a built-in problem. What if the Turtles skipped the entry breakout and that skipped breakout was the beginning of
a huge and profitable trend that roared up or down? Not good to be on the sidelines with a market taking off!

If the Turtles skipped a System One 20-day breakout and the market kept trending, they could and would get back in at the System Two (S2)
55-day breakout. This fail-safe System Two breakout was how the Turtles kept from missing big trends that were filtered out.

The entry strategy using System Two is as follows:

  • Buy a 55-day breakout if we are not in the market;
  • Short a 55-day breakout if we are not in the market.

The entry strategy using System One is as follows:

  • Buy a 20-day breakouts if last S1 signal was a loss;
  • Short a 20-day breakouts if last S1 signal was a loss.

The Turtles calculated the stop-loss for all trades using the Average True Range of the last 30 days, a value which they called N. Initial
stop-loss was always ATR(30) * 2, or in their words, two volatility units. Additionally, the Turtles would pile profits back into
winning trades to maximize their winnings, commonly known as pyramiding. They could pyramid a maximum of 4 trades separated from each
other by 1/2 volatility unit.

The Exit Strategy

The Turtles learned to exit their trades using breakouts in the opposite direction, which allowed them to ride very long trends.

The exit strategy using System Two is as follows:

  • Exit long positions if/when the price touches a 20-day low
  • Close shorts positions if/when the price touches a 20-day high

The exit strategy using System One is as follows:

  • Close long positions if/when the price touches 10-day low
  • Close short positions if/when the price touches a 10-day high

Input Parameters

  • S1 Trade Period: Donchian breakout period to trade (system #1)
  • S1 Stop Period:  Donchian breakout period to exit trades (system #1)
  • S2 Trade Period: Donchian breakout period to trade (system #2)
  • S2 Stop Period: Donchian breakout period to exit trades (system #2)
  • Drawing Settings: Customize colors and sizes for arrows.
  • Alerts: This parameter block controls the indicator alerts.

Support

I am happy to provide free products but given my limited time, they come without support of any kind. My
apologies.

      Author

      Arturo López Pérez, private investor and speculator, software engineer and founder of Point Zero Trading Solutions.

      Read More…

      The Turtle Trading Indicator implements the original Dennis Richards along with Bill Eckhart trading system, commonly known as The Turtle
      Trader. This trend following system relies on breakouts of historical highs and lows to take and close trades: it’s the complete
      opposite to the “buy low and sell high” approach. The primary rule is “Trade an N-day breakout and take profits when an M-day high or low is
      breached (N must me over M)”.  [

      installation
      Guide
      | Update
      Guide
      | Troubleshooting
      | FAQ
      | All
      Products
      ]

      The Entry Strategy

      The Turtles learned two breakout variants or “systems”. System One (S1) utilized a 20-day cost breakout for entry. However, the entry was
      filtered by a rule that was designed to increase the odds of catching a big trend, which states that a trading signal should be ignored if
      the last signal was profitable.

      But this filter rule had a built-in problem. What if the Turtles skipped the entry breakout and that skipped breakout was the beginning of
      a huge and profitable trend that roared up or down? Not good to be on the sidelines with a market taking off!

      If the Turtles skipped a System One 20-day breakout and the market kept trending, they could and would get back in at the System Two (S2)
      55-day breakout. This fail-safe System Two breakout was how the Turtles kept from missing big trends that were filtered out.

      The entry strategy using System Two is as follows:

      • Buy a 55-day breakout if we are not in the market;
      • Short a 55-day breakout if we are not in the market.

      The entry strategy using System One is as follows:

      • Buy a 20-day breakouts if last S1 signal was a loss;
      • Short a 20-day breakouts if last S1 signal was a loss.

      The Turtles calculated the stop-loss for all trades using the Average True Range of the last 30 days, a value which they called N. Initial
      stop-loss was always ATR(30) * 2, or in their words, two volatility units. Additionally, the Turtles would pile profits back into
      winning trades to maximize their winnings, commonly known as pyramiding. They could pyramid a maximum of 4 trades separated from each
      other by 1/2 volatility unit.

      The Exit Strategy

      The Turtles learned to exit their trades using breakouts in the opposite direction, which allowed them to ride very long trends.

      The exit strategy using System Two is as follows:

      • Exit long positions if/when the price touches a 20-day low
      • Close shorts positions if/when the price touches a 20-day high

      The exit strategy using System One is as follows:

      • Close long positions if/when the price touches 10-day low
      • Close short positions if/when the price touches a 10-day high

      Input Parameters

      • S1 Trade Period: Donchian breakout period to trade (system #1)
      • S1 Stop Period:  Donchian breakout period to exit trades (system #1)
      • S2 Trade Period: Donchian breakout period to trade (system #2)
      • S2 Stop Period: Donchian breakout period to exit trades (system #2)
      • Drawing Settings: Customize colors and sizes for arrows.
      • Alerts: This parameter block controls the indicator alerts.

      Support

      I am happy to provide free products but given my limited time, they come without support of any kind. My
      apologies.

        • S1 Trade Period: Donchian breakout period to trade (system #1)
        • S1 Stop Period:  Donchian breakout period to exit trades (system #1)
        • S2 Trade Period: Donchian breakout period to trade (system #2)
        • S2 Stop Period: Donchian breakout period to exit trades (system #2)
        • Drawing Settings: Customize colors and sizes for arrows.
        • Alerts: This parameter block controls the indicator alerts.

        Support

        I am happy to provide free products but given my limited time, they come without support of any kind. My
        apologies.

            Arturo López Pérez, private investor and speculator, software engineer and founder of Point Zero Trading Solutions.



            Forexbotreview.com Forex Algo Trading

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