Expert Advisor Turtle Price Channel Breakout tfmt5

Buy Turtle Price Channel Breakout tfmt5 Expert Advisor in the store selling algo trading systems

Made famous by the Tur­tles, this sys­tem is a Price Chan­nel break­out also known as a Donchi­an Chan­nel break­out. As trends devel­op and the price begins to make new highs or new lows, the price will break through the upper or low­er price chan­nel. The sys­tem enters and has a sec­ondary price chan­nel work­ing as a trail­ing exit. This EA uses Per­cent Volatil­i­ty posi­tion siz­ing to be able to treat any sym­bol or tick val­ue the same to keep loss­es small with a fixed risk per­cent­age as the lot size is cal­cu­lat­ed with the stop. If the price moves in favor of your posi­tion, addi­tion­al lots are added (option­al via input) as the sys­tem pyra­mids.

Although the Tur­tles used this sys­tem in the Futures mar­ket with strict set­tings and cor­re­la­tion rules, this EA allows you to change the inputs to opti­mize to your Meta­Trad­er sym­bols and time­frames. The Tur­tles had the option to trade their Sys­tem 1 (20 bar entry, 10 bar exit), Sys­tem 2 (55 bar entry, 20 bar exit), or a blend­ed approach mix­ing Sys­tem 1 and Sys­tem 2. This EA lets you choose any num­ber of bars for the entry and exit but does not lim­it you to Sys­tem 1 or Sys­tem 2. This EA will only close posi­tions that it has opened (only match­es to its mag­ic num­ber).

Note: The default input val­ues are not opti­mized. Demo the EA and adjust the inputs to find the opti­mized com­bi­na­tion for your risk tol­er­ance and to max­i­mize prof­itabil­i­ty. Trend Fol­low­ing sys­tems are designed around long term prob­a­bil­i­ties. Although Trend Fol­low­ing sys­tems have low­er win rates, prof­itabil­i­ty comes from large trends as Trend Fol­low­ing cuts loss­es short and lets win­ners run. Test on a port­fo­lio of sym­bols as prof­its from trend­ing sym­bols will off­set the small loss­es and pro­vide prof­its when oth­er sym­bols are not trend­ing.

Entries and Pyramiding

Entries occur when the price exceeds the high­est high or the low­est low of the price chan­nels from the Entry_Periods input. The EA adds the posi­tion as soon as the price makes a new high or new low and does not wait until the fol­low­ing bar. Using the exam­ple of the tur­tles, their sys­tem 1 entered long posi­tion when the price broke above the 20 bar upper price chan­nel or in oth­er words, the price went high­er than it had gone in the past 20 bars. Sys­tem 1 went short when the price broke below the 20 bar low­er price chan­nel. Sys­tem 2 went long when the price broke above the 55 bar upper price chan­nel. Sys­tem 2 went short when the price broke below the 55 bar low­er price chan­nel. If you set the Max_Units input above 1, addi­tion­al entries will occur and pyra­mid in ATR incre­ments spec­i­fied by the ATR_between_Pyramids input.

Exits

Exits are trail­ing and use the price chan­nels from the Exit_Periods input. As the price revers­es and reach­es the exit price chan­nel, this EA exits all posi­tions includ­ing the pyra­mid posi­tions. Using the exam­ple of the tur­tles, their sys­tem 1 exit­ed long posi­tions when the price touched the 10 bar low­er price chan­nel. Sys­tem 1 exit­ed short posi­tions when the price touched the 10 bar upper price chan­nel. Sys­tem 2 exit­ed long posi­tions when the price touched the 20 bar low­er price chan­nel. Sys­tem 2 exit­ed short posi­tions when the price touched the 20 bar upper price chan­nel.

Position Sizing and Stops

This EA cal­cu­lates the posi­tion siz­ing using the Per­cent Volatil­i­ty method, which is direct­ly tied to the stop. The stop uses the ATR_Periods and Stop_Range_ATR inputs to cal­cu­late the ATR and then mul­ti­ply the two val­ues to set the stop dis­tance from the entry price. Stops are not cod­ed into the posi­tion but this EA clos­es out the posi­tion if the price reach­es the stop val­ue. As addi­tion­al units are added through pyra­mid­ing, the stop moves to cor­re­spond to the lat­est entry price. Using the stop val­ue, the Risk_Percent input, and your account infor­ma­tion (tick size, lot size, dig­its, etc.), the posi­tion siz­ing uses the mon­e­tary val­ue of the dis­tance from entry to stop and keeps the num­ber of lots lim­it­ed to the per­cent­age you spec­i­fy. This allows every sym­bol, price, volatil­i­ty to be treat­ed equal­ly. As your account size changes through prof­its or draw­downs, the posi­tion siz­ing will account for the change.

Inputs

  • Entry_Periods: The num­ber of bars back to cal­cu­late the high­est high and low­est low to use for the entry break­outs.
  • Exit_Periods: The num­ber of bars back to cal­cu­late the high­est high and low­est low to use for the trail­ing exits.
  • Risk_Percent: The per­cent risked per posi­tion if the price reach­es the stop. Exam­ple: If you want 2% of your equi­ty to be risked per posi­tion, enter 2 to this input.
  • ATR_Periods: The num­ber of bars to use in the ATR cal­cu­la­tion.
  • Stop_Range_ATR: This val­ue will be mul­ti­plied by the ATR to deter­mine where the stop will be from the entry price. Exam­ple: If you want your stop to be set at 2* ATR from the price, enter 2 to this input.
  • Max_Units: The max­i­mum num­ber of entries (includ­ing the ini­tial entry) as the posi­tion gains prof­its and the EA adds pyra­mid posi­tions.
  • ATR_between_Pyramids: This val­ue will be mul­ti­plied by the ATR to use for cal­cu­lat­ing when to add the next posi­tion through pyra­mid­ing. Exam­ple: Set this to 1.5 and the next pyra­mid posi­tion would be added when the price reach­es your entry plus (1.5 * ATR) for long posi­tions or entry minus (1.5 * ATR) for short posi­tions.
  • Slip­page: Amount of allow­able slip­page when enter­ing posi­tion.
  • Reduction_Percent: Enter an amount, by which to reduce your equi­ty for the posi­tion siz­ing cal­cu­la­tion. Exam­ple: If you are in a draw­down peri­od, you can enter 20 to this input, and the posi­tion size will be 20% less than with­out the reduc­tion. The posi­tion siz­ing cal­cu­la­tion would treat your equi­ty as 80% of what it real­ly is to low­er your risk until the draw­down is over.

 

The chart screen­shot below shows first a long entry that is stopped out on the long can­dle, sec­ond on a same can­dle a prof­itable long entry with mul­ti­ple pyra­mid posi­tions and exit, third a short entry that exits with one pyra­mid being prof­itable, and addi­tion­al entries that are stopped out as the price goes into a trad­ing range. The chart uses our free price chan­nels indi­ca­tor with the green line show­ing the 20 bar entry price chan­nels and the red one show­ing the 10 bar exit price chan­nels. Ver­sion 1.10 lim­its entries to only one new posi­tion per bar. The sec­ond entry from the screen­shot would enter on the fol­low­ing bar.

Dis­claimers: Trad­ing is spec­u­la­tive in nature and not appro­pri­ate for all investors. Investors should only use risk cap­i­tal that they are pre­pared to lose as there always exists the risk of sub­stan­tial loss. Investors should ful­ly exam­ine their own per­son­al finan­cial sit­u­a­tion before trad­ing. Past per­for­mance does not guar­an­tee future results. Hypo­thet­i­cal or sim­u­lat­ed per­for­mance results have cer­tain lim­i­ta­tions. Unlike an actu­al per­for­mance record, sim­u­lat­ed results do not rep­re­sent actu­al trad­ing. Also, since the trades have not been exe­cut­ed, the results may have under-or-over com­pen­sat­ed for the impact, if any, of cer­tain mar­ket fac­tors, such as lack of liq­uid­i­ty. Sim­u­lat­ed trad­ing pro­grams in gen­er­al are also sub­ject to the fact that they are designed with the ben­e­fit of hind­sight. No rep­re­sen­ta­tion is being made that any account will or is like­ly to achieve prof­it or loss­es sim­i­lar to those shown.

Turtle Price Channel Breakout tfmt5 

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