Turtle Channel

Turtle Channel

The Turtle Channel is an indicator similar to a Donchian Channel, except that it uses different durations for the highest high band and lowest low band. The upper bands and the lower band channels define the channel which runs with the value bars. The name of the indicator comes from Turtle Traders who used the channel for entry and exit signals of their trading system.

Criteria

  • The bar or duration used to calculate the upper channel.
  • The number of times, or periods, which is used to calculate the lower channel.
  • (High / Low) – Calculate the study based on high/low prices, or on closing.

Entry/Stop Loss Levels

For the trading of an uptrend, Turtle Channel uses long-term upper bands compared to the lower band. The upper band uses a period of 40 days while the lower band uses 20 days. Once the Turtle Style Trading System will enter a long position because the lower band touches the upper band after coming through the channel. Because the price never came back through the channel to touch the lower band – the exit rule for the system.

Buy script

[mks_pullquote align=”center” width=”600″ size=”14″ bg_color=”#000000″ txt_color=”#ffffff”]SET H = EMA(HIGH, 20)
SET L = EMA(LOW, 20)
SET C = (H+L)/2
TREND(C)=UP[/mks_pullquote]

Sell script

[mks_pullquote align=”center” width=”600″ size=”14″ bg_color=”#000000″ txt_color=”#ffffff”]SET H = EMA(HIGH, 20)
SET L = EMA(LOW, 20)
SET C = (H+L)/2
TREND(C)=DOWN[/mks_pullquote]

Note– Above all Expert Advisors script are applicable for ANT Desk user only.

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