Superalgos - Turtles

Turtles

Summary: The Turtles features the famous System 1 trading indicator as created by Richard Dennis and Bill Eckhardt in the early 1980s.

Turtles on the Charts

This trading system is a trend following system that attempts to catch a breakout. It is similar to a Donchian Breakout strategy.

Turtles System 1(investopedia)

The classic turtles system contains the following rules:

1.) Entry: Buy when the price breaks above the 20 day high

2.) Stop Loss: 2 ATR from the entry price

3.) Trailing stop loss 10 day low

This indicator can be used in many timeframes, but as always with these types of indicators, the higher will give fewer false signals.

The length of the entry and exit ATR calculation can be changed by locating and opening the under -> under "Turtle S1" .

The following properties are available to access:

Product Name	Product Variable	Properties
Turtle S1	turtleS1	direction, entryLow, entryHigh, exitLow, exitHigh, trend, exit, direction

Example:

The turtle MFI could be used to enter a trade when the price action crosses above the trend value:

 chart.at04hs.candle.close > chart.at04hs.turtleS1.trend && chart.at04hs.candle.previous.close < chart.at04hs.turtleS1.previous.trend

Maintainer:

@suttridge

Turtles Data Mine — TOC

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1. Turtles

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