WAY of the TURTLE
The WAY of the TURTLE Advisor is a SEMI-AUTOMATED ADVISOR FOR TRAIL POSITIONS on selected timeframe, created exclusively for trading on medium / long-term trend instruments.
Before trading, an independent analysis of the instrument for the presence of a trend is required. Well suited as trailing stop positions for bars on all time frames from m1-Monthly.
Stocks, currencies, metals, indices are suitable for trading - generally speaking, the majority of financial assets with a medium-term trend are allowed for that.
Recommended time frame D1.
Opening positions occurs after breaking through the high / low of the previous bar, in the direction of the price.
Stop loss is set based on the previous peak of the candle.
The logic of trade is taken from the theory of the holding of the trends of Charles H. Dow.
The purpose of using this advisor is to maximize profits in transactions by not using a fixed take profit.
Types of accounts: Netting, Hedging.
It does not use a martingale, averaging, grid.
To use the advisor, you must first select the instruments with a potential long downward or upward trend in your opinion. For example, shares of promising companies or other tools. Turn off the adviser under flat market conditions.
Filterpips - filter to add to the high/low candle, used when setting a stop loss.
Use MaxProfit = true/false - an enable/disable parameter of the use of maximum profit, upon receipt of which the profit will be closed.
Actually, it is recommended not to include this parameter as the essence of the strategy is in following the trend as long as possible.
MaxProfDistance - the maximum number of profit points. By default, it is recommended to set 0.
Use MaxLoss = true/false - the enabling/disabling parameter of the use of maximum loss, upon receipt of which the transaction will close.
By default, stop loss is always set, but its size depends on the size of the previous candle. This parameter is necessary as an additional limiter of the maximum stop loss size.
MaxLossDistance - the maximum number of points of loss.
Lots - a lot size for transactions.
Growth rate - deals opening filter. Usually, 0.5 is for all instruments.
Virtual Stop Loss - using a virtual stop loss.
Magic Number - a unique order number.
Slippage - slippage in points.