OPEN-SOURCE SCRIPT
Turtle trading strategy (Donchian/ATR)
Updated
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
- 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 valuesOpen-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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