Turtle trading strategy (Donchian/ATR) by jeanobrega

averagetruerange supportandresistance turtletrader

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 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 a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

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