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
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
The Turtle Trading Channel forex system
In the pictures The Turtle Channel Trading System
Turtle Channel Scalping
Time Frame 15 min;
Currency pairs Majors.
Barry Support and
Turtle Channel Blue;
Buy if the candle price close above red dot barry
Turtle Channel Red;
CCI <-75; Sell if the candle price close below blue
dot barry support;
Profit Target8-13 pips depends by Currency pairs.
for buy 3 pips below blue dot barry support.
for sell 3 pips above red dot barry resistance.
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- 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