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The Turtle Trading Channel

The Turtle Trading Channel

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This trend following system was designed by Dennis Gartman and Bill Eckhart, and relies on breakouts of historical highs and lows to take and close trades: it is the complete opposite to the "buy low and sell high" approach. This trend following system was taught to a group of average and normal individuals, and almost everyone turned into a profitable trader.

The main rule is "Trade an N-day breakout and take profits when an M-day high or low is breached (N must me above M)". Examples:

  • Buy a 10-day breakout and close the trade when price action reaches a 5-day low.
  • Go short a 20-day breakout and close the trade when price action reaches a 10-day high.

In this indicator, the red and blue lines are the trading lines, and the dotted line is the exit line. Original system is:

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Author
Salvador
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