Turtle trading strategy (Donchian/ATR)

Strategy based on Turtle Trading Strategy from William Eckhardt and Richard Dennis

- Considers entering trades on breakout of Donchian channels (upper for long, lower for short) (Default length = 20 for daily)
- Considers exiting trades on breakout of Donchian channels (lower for long, upper for short) with lower length (10 for daily)
- Uses 2N ATR (default) as stop loss

Release Notes

Corrected ATR Stop Loss (was not been multiplied for the factor atrmult)

Release Notes

- Updated to v4 pine script language
- Added indication for increase position based on 1N ATR value (marked on green dashed line) if the trade is in profit.

Release Notes

Changed ATR Multiplier to permit non-integer values

Open-source script

In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.

jeanobrega

Disclaimer

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Open-source script

jeanobrega