Turtle ATR Channel

5

This indicator was modified according to the 'Way Of The Turtle'. It generates a channel based on the opening price and ATR values of the current bar. Turtle ATR Channel can be used to help identify overbought and oversold conditions in a market.


Calculation

upper channel = Open + r1*ATR

lower channel = Open - r2*ATR

Among them:

  • Open is the opening price of the current bar.
  • ATR is the ATR value of the current bar.
  • r1, r2 are the ATR ratios.


Input Parameters

  • ATR Period - set the period of the ATR indicator, default value is 14.
  • ATR Up Ratio - set the value of r1, default value is 1.0.
  • ATR Low Ratio - set the value of r2, default value is 1.0.


How to trade

Basically Turtle ATR Channel can be used to help identify overbought and oversold conditions in a market. When a market’s price break through the upper channel, the market is considered overbought (selling area). Conversely, when a market’s price break through the lower channel, the market is considered oversold (buying area).

Note: When your opening position is lost out, stop trading at the same direction next time. For example, you opened a sell position when price broke through the upper channel and it was lost out. After that price broke through the upper channel again. At that moment you should not open a sell position and wait for the price to break through the lower channel.

It is applicable to all currencies and all timeframes.

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Risk Control Trade Panel  is designed to assist in one-click trading. This tool can automatically calculate the trading lots based on the set risk money, the recommended StopLoss and the recommended TakeProfit. In the information menu, you can view indicators such as the weekly price range and the monthly price range. Followings are highlight features Lotsize is automatically calculated based on the risk money set by the user. The recommended stoploss and recommended takeprofit are automaticall
Spread Costs refers to the amount of the loss caused by the spread, and Swap Benefits refers to the amount of the income gained by overnight positions. Spread Costs is an important indicator for short-term traders, especially for scalping traders, and Swap Benefits is an important indicator for long-term traders. Since the spreads and swaps on the MetaTrader 5 platform are all expressed in points, we need to convert it into the amount expressed in the account currency. This tool can display the
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sunnychow
10312
sunnychow 2018.12.16 04:52 

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Aleksandr Tamonin
4106
Aleksandr Tamonin 2018.05.28 20:19 

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Konstantin Grebenshikov
1769
Konstantin Grebenshikov 2018.04.30 10:44 

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