AW Turtles Indicator

Overview of AW Turtles Indicator

• The AW Turtles Indicator is based on the classic Turtle Trading system, implemented by Dennis Richards and Bill Eckhart.
• This indicator captures trading opportunities through breakouts of historical highs and lows.
• It operates on principles that differ from traditional strategies like buying low and selling high.

Entry Strategy

• Two systems are utilized: System One (20-day breakout) and System Two (55-day breakout).
• For an entry signal, traders look for breaks above or below the designated high or low levels.
• System One includes a filtering rule: ignore the signal if the last trade was profitable. If the last trade was a loss, it activates the entry.
• In case of a missed System One signal, the trader can enter System Two.

Exit Strategy

• Exits are determined by subsequent breakouts in the opposite direction.
• The initial stop-loss (SL) is typically set at twice the Average True Range (ATR) of the last 30 days.
• This method allows the trader to ride long trends by exiting positions at 20-day or 10-day highs/lows as appropriate.
• Strategic pyramiding: adding up to four positions as the market moves favorably.

Risk Management

• The system emphasizes a strict risk per transaction cap of 1% for each trade.
• When using additional orders, risk is minimized to 0.25% for each additional position.
• This layered approach ensures that traders can remain in high volatility environments safely.

Advantages and Features

• AW Turtles Indicator adapts to varied asset classes: forex, stocks, and commodities 🌍.
• It includes automated volume calculations for ease of use.
• The indicator provides timely entry and exit notifications, allowing traders to respond quickly to market changes 📈.

User Reception

• The AW Turtles Indicator has a strong user rating, showcasing its usefulness and adaptability.
• Reviews often emphasize its effectiveness in trend-following strategies, with a responsive alert system for enhanced trading experience.
• Overall, users appreciate the simplicity and power of the indicator in guiding trading decisions ✌️.

Conclusion

• The AW Turtles Indicator embodies a robust trading methodology focused on breakout strategies.
• Its well-defined risk management, adaptive entry and exit strategies, and universal applicability make it a valuable tool for traders across markets.