Metastock Tutorial: Turtle Trading System Metastock Indicator
Turtle trading is a most famous trading system; I wrote a series of articles to provide the elemental principles of turtle trading system. In this article, I will provide you with just a few examples on the best way to practice the turtle methods in your trading through utilizing MetaStock.
One of the most as a rule used tools for MetaStock is The Explorer, with this tool traders can clear out securities that don’t healthy any given standards. The factors can be defined through writing MetaStock system as the next example.
According to the turtle buying and selling process, the shorter term entry process centered on a 20-days breakout. Merchants can effortlessly write a turtle trading system metastock formula for every day charts as follow.
H > Ref(HHV(H, 20), -1) OR L < Ref(LLV(L, 20), -1);
H = Today’s high; L = Today’s low
HHV(H, 20) = Highest value that the high price (H) has reached in the previous 20 days.
LLV(L, 20) = Lowest value that the low price (L) has reached in the previous 20 days.
Ref(HHV(H, 20), -1) = The highest high price in the last 20 days refer to last day.
Ref(LLV(L, 20), -1) = The lowest low price in the last 20 days refer to last day.
If merchants desire a record of securities that fit the turtle exit procedure, 10-days low for lengthy positions and 10-days high for short positions. The formulation will probably be as comply with.
L < Ref(LLV(L, 10), -1) OR H > Ref(HHV(H, 10), -1);
These are examples of the best way to apply buying and selling methods by utilizing turtle trading system metastock formula. Besides The Explorer, traders may write the formula in other instruments corresponding to expert advisor or Indicator Builder as well.
Indrajit is an expert trader who trades in shares, futures, currency trading. He strongly makes a speciality of technical analysis, buying and selling methods and money administration.
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