The full implementation of the Turtle Trading Rules (as distinct from the various truncated versions circulating within the community) is now ready.
This trading strategy script distinguishes itself from all currently publicly available Turtle trading systems on Tradingview by comprehensively embodying the rules for entries, exits, position management, and profit and loss controls.
Market Selection: Trade in highly liquid markets such as forex, commodity futures, and stock index futures.
Entry Strategies: Model 1: Buy when the price breaks above the highest point of the last 20 trading days; Sell when the price drops below the lowest point of the last 20 trading days. When an entry opportunity arises, if the previous trade was profitable, skip the current breakout opportunity and refrain from entering. Model 2: Buy when the price breaks above the highest point of the last 55 trading days; Sell when the price drops below the lowest point of the last 55 trading days.
Position Sizing: Determine the size of each position based on the price volatility (ATR) to ensure that the risk of each trade does not exceed 2% of the account balance.
Exit Strategies: 1. Use a fixed stop-loss point to limit losses: Close long positions when the price falls below the lowest point of the last 10 trading days. 2. Trailing stop-loss: Once a position is profitable, adjust the stop-loss point to protect profits.
Pyramiding Rules: Unit Doubling: Increase position size by one unit every time the price moves forward by n (default is 0.5) units of ATR, up to a maximum of 4 units, while also raising the stop-loss point to below the ATR value at the level of additional entries.
Thank you, among other strategies here, your strategy is good. But when I tested, it works only for crypto, not forex or stock. How did your result or any suggestion? Thank you.
lihexie
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@trungdx, Thanks for your feedback! I’m all about crypto and I don’t know much about other markets. Here’s what I think: The Turtle trading strategy is pretty old and well-known, so it might not make as much money in mature markets like forex and stocks. We can’t change the market, but we can pick who we trade against. Older strategies can work better in less developed markets. I shared the script to show people how the original Turtle strategy works, mostly for learning. If you want to use it for real trading, you’ll need to make some changes. You might need to adjust the settings, add more things to consider, or change how it works to try to make more money.
trungdx
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@lihexie, thank you. Hope to see more script from you.