AW Turtles Indicator MT5

Understanding the AW Turtles Indicator MT5

• The AW Turtles Indicator is part of a trend-following system originally designed by Richard Dennis and Bill Eckhardt. It employs two primary breakout strategies.
• It identifies trend breakouts based on historical highs and lows, which contrasts the conventional buying low and selling high approach.
• This indicator signals to enter trades when 20-day or 55-day price breakouts occur.

Entry and Exit Strategies

• Entry strategy includes two systems:
  • System One (S1): Utilizes 20-day breakouts. A trade is skipped if the last signal was profitable.
  • System Two (S2): Captures opportunities missed by the first system by using 55-day breakouts.
• Exits occur when the price hits the opposite break of a prior high or low, allowing traders to maximize profit during long trends. 🔁

Features of the AW Turtles Indicator

• Works across various instruments such as currencies, stocks, commodities, indices, and cryptocurrencies.
• Provides customizable entry and exit signals based on a Donchian channel method.
• Flexible risk management options, including adjustable stop losses based on the Average True Range (ATR).
• Allows for multiple order types, each with bespoke conditions for averaging and exit strategies.

Automation with AW Turtles EA

• The AW Turtles EA utilizes this indicator for automated trading, making it easy for traders to follow the Turtles' successful strategy without manual intervention.
• Comes with various exit options, including trailing stops and the ability to close orders based on predefined profit targets and stop losses.
• Incorporates features like automatic lot sizing and multiple order entry types to suit different trading styles.
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User Experiences

• Traders have reported varying success rates when using this indicator, often noting its reliability in capturing market trends.
• Some users appreciate the ability to customize settings to better fit their trading strategies, although others might find it overwhelming.
• Overall, the community feedback highlights that while the AW Turtles Indicator is a robust tool, effective use depends on the trader’s understanding of market dynamics.