Turtle Trend Trading System for TradingView
Strategy Premise
It is a trend following breakout strategy which takes a trade whenever there is a breakout in the nth period range. As a default, if the candle closes above/below the high/low of previous 55 candles, a trade entry signal is generated. The position is exited, whenever the candle closes below/above the low/high of the past 20 candles.
Strategy Logic
Long Entry: Send LE when candle breaks previous nth period high
Long Exit: : Either when SL or Target is hit. If SL/TGT is not hit and candle hits previous nth period low, LX and SE is sent
Short Entry: Send SE when candle breaks previous nth period low
Short Exit: Either when SL or Target is hit. If SL/TGT is not hit and candle hits previous nth period high, SX and LE is sent
Turtle Trend Trading System for TradingView Charts
Entry Length: Number of bars to lookback to for a high
Exit Length: Number of bars to lookback to for a low
Trade Quantity: This is used to specify the trade quantity
Custom Stop Loss in Points: Movement in chart price against the momentum which will trigger exit
Custom Target in Points: Movement in chart price against the momentum which will trigger exit
TradingView Settings
Step 1: Download the PineScript Algo
Step 2: Open desired chart in TradingView with normal candlestick. Select desired timeframe of the chart.
Go to the Pine Editor section, remove the default code, paste the downloaded code, save the file and add to chart.
Step 3: Once Strategy is applied to the chart, click on settings to optimize parameters for your own trading
Step 4: Setting Up Alert
Before setting up an alert make sure that You have selected the desired script, timeframe, strategy settings, API bridge is configured and running. Click in settings add alert and paste {{strategy.order.comment}} in the message box.
Important: do not change any settings during live trading.
NOTE: The pine script works both with webhook alerts (TV Pro plan) and normal popup alerts (TV free plan).
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