The Turtle Trading approach* is a trend following system that uses volatility for position size. *(Richard Dennis & William Eckhardt ) Turtle traders use the N unit system for risk management, which has its own advantages. This indicator offers beginners a simple interface that uses the same logic. Using ATR (Average True Range) to measure volatility. The...
Combination of the box theory by Nicolas Darvas and the turtle system. If the price is above the box, it's long. If the price is below the box, it's short. And follow tags for exit. Simple game plan. Darvas box theory is a technical tool that allows traders to target stocks with increasing trade volume. The Darvas box theory is not locked into a specific time...
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 (A.k.a S2) The entry strategy using S1 is as follows Buy 20-day breakouts...
Simple script that calculates the normalized value of N. Rules taken from an online PDF containing the original Turtle system: "The Turtles used a volatility-based constant percentage risk position sizing algorithm. The Turtles used a concept that Richard Dennis and Bill Eckhardt called N to represent the underlying volatility of a particular market. N is simply...
Donchian Channel Trading system visualised as a cloud. Regular/Quick inputs; Length: 20 Entry Length: 20 Stop Length: 10 Alternate/Slower Inputs; Length: 55 Entry Length: 55 Stop Length: 20 For a more in-depth review, look up "Turtle Trading" rules The simplest way to use the cloud; -When the cloud flips from above to below (support), close any shorts and...
One of the most famous strategy in the history of trading, #Turtle strategy have numerous legends, one of them is using Donchian Price Channels with 55 period for entries and 20 period for exits. Can be used with any time frame Added alerts I added re-entries and re-exits for more scalps or for laddering trading. Also you can modify parameters for entries and...
Hello friends, in this script, hand drawing and loyalty to terminals are minimized. ***FEATURES 1 - Rational Auto Support and Resistance Levels NOTE : For 1W TF , you can take 0.000 - 1.000 for 1 area , i didn't find to necessary to autoplot this condition because of between levels are so large and for long term. Multi time-frame In small...
For those who never heard about these two huge strategies: * * * Darvas Box Strategy - www.netpicks.com * * * Turtle Way Strategy - www.investopedia.com In very short terms, both strategies are based on breakouts, probably the easiest way to trade (with proper education, obviously) I created this indicator based on highs and lows, which will create support...
Track consecutive new highs/lows outside the Donchian range. Fans of the oldschool Turtle Strategy should enjoy the visualization. Same logic as my "Walking the Bands" script, just with Donchian breaks instead of Bollinger tags.
This is the Donchian Channel expressed with a percentage cloud. Default 12.5% of the range will be filled at each edge, this helps to show reversal possibilities as price returns to the area between the clouds. This offers a usage to essentially fade the turtle trader system. That system is loosely based on the playing of the breakouts of the the channel... as...