Turtles 3xATR EA

TURTLES 3XATR EA: A MODERN TREND-FOLLOWING SYSTEM FOR METATRADER 5

The Turtles 3xATR Expert Advisor is a sophisticated automated trading system for MetaTrader 5, engineered to capture significant market trends. Inspired by the principles of the classic Turtle Traders, it employs a disciplined, volatility adjusted breakout methodology combined with robust, rules based risk management.

TRADING STRATEGY & LOGIC

The EA operates on a pure trendfollowing philosophy. It identifies potential new trends by monitoring for price breakouts from a defined range. A buy signal is generated when the market's Ask price exceeds the highest high of the previous EntryPeriod bars. Conversely, a sell signal triggers when the Bid price falls below the lowest low of the same lookback period.

Once a position is opened, the system uses the Average True Range (ATR) indicator to manage risk dynamically. An initial stop loss is placed at a distance defined by StopLossATRMultiplier multiplied by ATR. As the trend develops, a trailing stop mechanism activates, tracking the highest close for long trades or lowest close for short trades and adjusting the stop loss level to lock in profits.

CORE FEATURES

• Volatility Based Stops: All stop loss and trailing stop calculations are based on ATR, ensuring stop distances adapt to current market volatility.

• Dynamic Position Sizing: Lot size is calculated for each trade to risk exactly a specified percentage of your account balance, based on the distance to the initial stop loss.

• Intelligent Drawdown Protection: An optional automated risk reducer can lower the per trade risk percentage if the account balance falls by a configurable threshold, helping to preserve capital. The original risk setting is restored once a new account balance high is reached.

• Persistent State Management: The EA saves its current risk state to a file, ensuring settings and protection logic are maintained even after restarting the MetaTrader terminal.

KEY PARAMETERS OVERVIEW

The EA is highly configurable. Key settings include EntryPeriod for calculating breakout levels, StopLossATRMultiplier and TrailATRMultiplier for defining stop distances, and InitialRiskPercent for controlling trade exposure. Drawdown protection parameters (DrawdownReductionEnable, DrawdownThresholdPercent) allow for further customization of risk management. Each trade is tagged with a unique MagicNumber for identification.

IMPORTANT USAGE NOTES & TECHNICAL DETAILS

• The EA processes signals only at the close of a new bar, making it suitable for various timeframes, though daily or higher charts are commonly used for trendfollowing.

• It maintains only one position per symbol at a time; pyramiding or multiple entries are not part of its design.

• The EA uses local persistence files to save its risk state (e.g., active drawdown protection mode). This ensures seamless operation across terminal restarts. For Windows users, these files are typically located at: C:\Users[Your Username]\AppData\Roaming\MetaQuotes\Terminal\Common\Files

• To modify the InitialRiskPercent after the EA has been run: You must close all trades opened by the EA, remove it from all charts, delete the associated persistence files (.bin and .bak), and then re-attach it with the new settings. This ensures the new risk parameter is applied correctly from a clean state.

• For consistency and to avoid curve fitting, it is recommended to apply the same set of parameters across all traded markets.

RISK WARNING

Trading financial instruments on margin carries a high level of risk and may not be suitable for all traders. Past performance is not indicative of future results. You should thoroughly test any Expert Advisor in the MetaTrader 5 Strategy Tester and on a demo account to understand its behavior fully before considering live trading. You are solely responsible for your trading decisions and any resulting financial loss.