10-5 Turtle Channel Daily Intraday Trading Strategy

Intraday Trading Techniques anyone can use to profit from the markets. And this Market Open Trading System is based on the 10-5 The Turtle Channel indicator.

The Original Turtle Trading System is a trend-following system where trade initiations are governed by price channel breakouts, as taught by Richard Donchian.

The original system consisted of two mechanical trading strategies, System 1 and System 2 with System 1 being far more aggressive and short-term than System 2.

 

System 1 (The Original Turtle Trading System):
  • Go long (short) when the price exceeds the high (low) of the preceding 20 days.

This breakout signal would, however, be ignored if the last breakout would have resulted in a winning trade (but an entry would be made at the 55-day level to avoid missing major market moves).

The System 1 exit was a 10 day low for long positions and a 10 day high for short positions. he System 1 exit was a 10 day low for long positions and a 10 day high for short position.

 

System 2:
  • Buy (sell) when the price exceeds the high (low) of the preceding 55 days.
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All breakouts for System 2 would be taken whether the previous breakout had been a winner or not.

The System exit was a 20 day low for long positions and a 20 day high for short positions.

 

ForexWOT 10-5 Turtle Channel Trading

 

The 10-5 Turtle Channel Trading is an intraday forex system trend following based on the Turtle Channel and momentum indicator.

  • Time Frames: 30 min and 60 min
  • Most Recommended Currency Pairs: AUDUSD, USDCAD, EURUSD, GPBUSD, and JPYUSD

 

MetaTrader Trading Indicators
  • The Turtle Channel
  • Moving Average
  • Signal trend
  • ArrZZx2
  • Relative Strength Index
  • Stochastic Oscillator

 

BUY Rules

  • The Turtle Channel blue color
  • 5 EMA (yellow line) > 10 EMA (blue line)
  • Signal trend Green color bars
  • ArrZZx2 arrows green color
  • Relative Strength Index upward and above 50 level
  • Stochastic Oscillator uptrend

 

SELL Rules

  • The Turtle Channel blue color
  • 5 EMA (yellow line) < 10 EMA (blue line)
  • Signal trend red color bars
  • ArrZZx2 arrows magenta color
  • Relative Strength Index downward and below 50 level
  • Stochastic Oscillator downtrend

 

Trading NOTES

Which markets are best for turtle trading?

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Turtle trading is based on spotting and jumping aboard at the start of long-term trends in highly-liquid markets, usually futures. Since long-term trend changes are rare, you’ll need to choose liquid markets where you can find enough trading opportunities.

My favorites are on the CME: For Agricultural, I like Corn, Soybeans, and Soft Red Winter Wheat. The best equities indexes are E-mini S&P 500, E-mini NASDAQ100, and the E-mini Dow. In the Energy group, I like E-mini Crude (CL), E-mini natgas and Heating Oil.

And, in Forex, it’s AUD/USD, CAD/USD, EUR/USD, GPB/USD, and JPY/USD. From the Interest Rate group of derivatives, I like Eurodollar, T-Bonds, and the 5-Year Treasury Note. Finally, in Metals the best candidates are always Gold, Silver, and Copper.



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