Darvas Box/Turtle Way Breakouts v.2 by Zekis
For those who never heard about these two huge strategies:
* * * Darvas Box Strategy - www.netpicks.com/dar...ox-trading-strategy/
* * * Turtle Way Strategy - www.investopedia.com...8/turtle-trading.asp
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 and resistance line, which will create a channel/box.
There is the possibility to :
- change channel/box size
- ride it till it will enter again into the channel/box
- set TPs and SL targets
- set alerts for Long, Short, Close when price enter into the channel, SL
- enable or disable 2 TP targets
- enable or disable 1 SL
- enable or disable middle line
Rules are simple:
1. Go Long when price breaks the upper line
2. Go Short when price breaks the lower line
3. Exit Long/Short when price enter into the channel/box
4. Stop Loss are added for safety
5. Added 2 layers for Take Profits
6. Added middle line that can act as Stop Loss
Legend:
1. White line - channel/box
2. Upper white line followed by green line - price cracked the channel/box - Go Long
3. Lower white line followed by red line - price cracked the channel/box - Go Short
4. Red zone - Stop Loss zone
5. Dotted red line - Stop Loss line
6. Dark green zone - first Take Profit zone
7. First dotted dark green line - first Take Profit target
8. First dotted dark green line followed by dotted lime line - price touched first Take Profit
9. Bright green zone - second Take Profit zone
10. Second dotted dark green line - second Take Profit target
11. Second dotted dark green line followed by dotted lime line - price touched second Take Profit
12. Dotted gray line - channel/box middle line
*** Don't use any indicator without knowing whatyou are doing, there is no such a magic lottery winning ticket
Trade safe!
Enjoy!
@edward_Z
* * * Darvas Box Strategy - www.netpicks.com/dar...ox-trading-strategy/
* * * Turtle Way Strategy - www.investopedia.com...8/turtle-trading.asp
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 and resistance line, which will create a channel/box.
There is the possibility to :
- change channel/box size
- ride it till it will enter again into the channel/box
- set TPs and SL targets
- set alerts for Long, Short, Close when price enter into the channel, SL
- enable or disable 2 TP targets
- enable or disable 1 SL
- enable or disable middle line
Rules are simple:
1. Go Long when price breaks the upper line
2. Go Short when price breaks the lower line
3. Exit Long/Short when price enter into the channel/box
4. Stop Loss are added for safety
5. Added 2 layers for Take Profits
6. Added middle line that can act as Stop Loss
Legend:
1. White line - channel/box
2. Upper white line followed by green line - price cracked the channel/box - Go Long
3. Lower white line followed by red line - price cracked the channel/box - Go Short
4. Red zone - Stop Loss zone
5. Dotted red line - Stop Loss line
6. Dark green zone - first Take Profit zone
7. First dotted dark green line - first Take Profit target
8. First dotted dark green line followed by dotted lime line - price touched first Take Profit
9. Bright green zone - second Take Profit zone
10. Second dotted dark green line - second Take Profit target
11. Second dotted dark green line followed by dotted lime line - price touched second Take Profit
12. Dotted gray line - channel/box middle line
*** Don't use any indicator without knowing whatyou are doing, there is no such a magic lottery winning ticket
Trade safe!
Enjoy!
@edward_Z
Release Notes:
Added alerts for Stop Loss lines instead of middle line
Release Notes:
Minor fixes