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Indicators: The classic Turtle Trading Indicator

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MetaQuotes Software Corp.
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MetaQuotes Software Corp. 2012.05.24 08:15 

The classic Turtle Trading Indicator:

This is classic implementation of the Turtle Trading system, with clear entry/exits signals within the same trend and enter/exit alerts. It should be used together with my other indicator, The Turtle Trading Channel to get further entry signals if you h

Author: Point Zero

MQL4 Comments
16319
MQL4 Comments 2012.05.24 11:30  

Hi Flaab,

Finally got it right ???, i will test it for a few days and gives you reply, i have one suggestion that alerts should pop up as soon as price breaks stop loss level not after the time period over be it 1 hour or 15 min, i saw number of indicator which gives alerts after time period over and you know what can happen in one hour right ???? you think that i am demanding too much sorry for that !!! any how you are doing great service to MT4 trading community !!! god bless you !!!

Regards,

HJ_rocks

Point Zero
793
Point Zero 2012.05.24 12:10  
HJ_ROCKS:

Hi Flaab,

Finally got it right ???, i will test it for a few days and gives you reply, i have one suggestion that alerts should pop up as soon as price breaks stop loss level not after the time period over be it 1 hour or 15 min, i saw number of indicator which gives alerts after time period over and you know what can happen in one hour right ???? you think that i am demanding too much sorry for that !!! any how you are doing great service to MT4 trading community !!! god bless you !!!

Regards,

HJ_rocks

Hello HJ_ROCKS,

Yes, use the strict version with CalcuateOnBarClose = false and the dot will appear before the candle closes.

However, alerts will just appear later, when the bar has closed. I believe default version is more profitable in the long run.

Further automation would require an expert advisor ;)

Thx for your kind words.

MQL4 Comments
16319
MQL4 Comments 2012.05.24 13:53  

Hi flaab,

Yes you are right i need to use strict version but that also shows " dot " during the price breaks stops or channle alerts only occure after time period get over !!!!! Flaab help us out with this alerts problem we need alerts as and when price breaks not when time period get over !!! we all know you can do this !!! last favour for all of us !!!

Regards,

HJ_Rocks

Point Zero
793
Point Zero 2012.05.24 14:11  
HJ_ROCKS:

Hi flaab,

Yes you are right i need to use strict version but that also shows " dot " during the price breaks stops or channle alerts only occure after time period get over !!!!! Flaab help us out with this alerts problem we need alerts as and when price breaks not when time period get over !!! we all know you can do this !!! last favour for all of us !!!

Regards,

HJ_Rocks

Well let me go over it tonight. I can make an alert happen at the price break. I guess. But how hard is watching a dot?

Just for the record, on the long run, using the close price is more profitable because you ignore false exits.

I tested this and the difference is enormous ;-)

MQL4 Comments
16319
MQL4 Comments 2012.05.29 16:39  

Hi Flaab,

Check last two hour chart for EurUSD, Gold, Silver Futurs " now alerts came after 1 hour completed after spain got downgraded !!!" just look at the charts what kind of damaged it can make after 20 bar low " if you get alerts on time as and when it breaks 20 bar low how much profitable it would be " i think you will get my message, why i am trying to send this message is that its upto trader take decision trade after 20 bar high or low break out !!!!!

Regards,

HJ_Rocks

Point Zero
793
Point Zero 2012.05.29 18:46  
HJ_ROCKS:

Hi Flaab,

Check last two hour chart for EurUSD, Gold, Silver Futurs " now alerts came after 1 hour completed after spain got downgraded !!!" just look at the charts what kind of damaged it can make after 20 bar low " if you get alerts on time as and when it breaks 20 bar low how much profitable it would be " i think you will get my message, why i am trying to send this message is that its upto trader take decision trade after 20 bar high or low break out !!!!!

Regards,

HJ_Rocks

Yep, alerts are only triggered after the bar has closed! I'll have to fix that in the near future in the strict version. In the meantime, use the strict version with CalculateBarClose == false and stay tuned :-P
MQL4 Comments
16319
MQL4 Comments 2012.06.26 02:02  

Thanks for this, much appreciated! 

MathQuant
73
MathQuant 2013.01.16 10:28  

Thank you.  Good work !

MQL4 Comments
16319
MQL4 Comments 2013.01.29 10:39  
Hi! do you know if it is somehow possible to use these indicators with forex tester 2 or any other backtesting software?
winden
35
winden 2013.02.03 21:27  
Cool indicator! Thank you!
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