The Turtle Trading Channel

 

The Turtle Channel Trading System

The Turtle Trading

This trend following system was designed by Dennis Gartman and Bill
Eckhart, and relies on breakouts of historical highs and lows to take and close trades: it is the complete opposite to the “buy low and sell high” approach. This trend following system was taught
to a group of average and normal individuals, and almost everyone turned into a profitable trader.

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 and blue lines are the trading lines, and the dotted line is the exit
line.



Go long when the trading line turns blue

Go short when the trading line turns red

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.

The Turtle Trading Channel forex system

 

In the pictures The Turtle Channel Trading System
in action.

The Turtle Channel Trading
The Turtle Channel Trading
The Turtle Channel Trading
The Turtle Channel Trading

Turtle Channel Scalping

Marco 11/12/2012

Time Frame 15 min;

Currency pairs Majors.

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Metatrader
Indicators:

CCI (14);

Barry Support and
resistance;

Turtle
Channel.

Long Entry:

Turtle Channel Blue;

CCI >75;

Buy if the candle price close above red dot barry
resistence;

Short Entry

Turtle Channel Red;

CCI <-75; Sell if the candle price close below blue
dot barry support;

Profit Target8-13 pips depends by Currency pairs.

Stop loss:

for buy 3 pips below blue dot barry support.

for sell 3 pips above red dot barry resistance.

 

Turtle Channel scalping
Turtle Channel scalping
Turtle Channel scalping
Turtle Channel scalping

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strategy.

  • Platform: Metatrader4
  • Currency pairs: Any pairs, indices and metals
  • Trading Time: Around the clock
  • Recommended broker: icmarkets, XM
  • How to install MT4 indicator?
  • 1. On the desktop, double-click to open the MT4 trading platform software you installed.
  • 2. Click on “File” – “Open Data Folder” in the upper left corner, double-click the MQL4 folder, and double-click the Indicators folder
  • 3. Copy the metrics you need to install to the Indicators folder
  • 4. Open MT4, find “Navigator” in the display menu, then click “Technical Indicators” of “Navigator” and right click to refresh, you will see the indicator just copied.
  • 5. In the “Technical Indicators” of “Navigator”, find the indicator file just installed, double click or click manually to the chart window
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