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The OST Turtle Trading Expert Advisor is a VertexFX client-side script that trades market breakouts. It is an enhancement of the popular Turtle Trading strategy.
This Expert Advisor identifies the Highest High and the Lowest Low of the recent TRADING_PERIOD candles to place LONG and SHORT breakout trades respectively. When the price breaks out of its recent trading bandit implies a new market direction is in force, and therefore the Expert Advisor places a trade in the direction of the trade.
When the Expert Advisor is started, it calculates the Highest High and the Lowest Low of the recent TRADING_PERIOD candles for the previous candle. When the price crosses above this Highest High value, a BUY (LONG) trade is opened if a BUY trade does not already exist. If a SELL trade exists when a BUY signal is received, the Expert Advisor keeps the SELL trade open and opens a new BUY trade.
On the contrary if the price crosses below the Lowest Low value, a SELL (SHORT) trade is opened if a SELL trade does not already exists. If a BUY trade already exists when a SELL signal is received, the Expert Advisor keeps the BUY trade open and opens a new SELL trade.
The lot-size is based upon the MONEY_MANAGEMENT setting. If MONEY_MANAGEMNT is set to false, the lot-size is set to the fixed LOT_SIZE value. However, if the setting is true, the lot-size is calculated based on the RISK_PERCENT and the initial stop-loss.
This Expert Advisor employs two levels of stop-loss – an initial stop-loss that is based on the Highest High and Lowest Low of the recent STOP_PERIOD candles, and a dynamic stop-loss based on the Average True Range (ATR).
The initial stop-loss is the Lowest Low of the recent STOP_PERIOD for BUY trades, and the Highest High of the recent STOP_PERIOD for SELL trades. These levels also act as trailing stop.
If SL_ENABLED is set to true, the Expert Advisor employs a trailing stop using the Average True. The trailing stop trails the current price by Average True Range multiplied by the ATR_MULTIPLIER value.
This Expert Advisor identifies the Highest High and the Lowest Low of the recent TRADING_PERIOD candles to place LONG and SHORT breakout trades respectively. When the price breaks out of its recent trading bandit implies a new market direction is in force, and therefore the Expert Advisor places a trade in the direction of the trade.
When the Expert Advisor is started, it calculates the Highest High and the Lowest Low of the recent TRADING_PERIOD candles for the previous candle. When the price crosses above this Highest High value, a BUY (LONG) trade is opened if a BUY trade does not already exist. If a SELL trade exists when a BUY signal is received, the Expert Advisor keeps the SELL trade open and opens a new BUY trade.
On the contrary if the price crosses below the Lowest Low value, a SELL (SHORT) trade is opened if a SELL trade does not already exists. If a BUY trade already exists when a SELL signal is received, the Expert Advisor keeps the BUY trade open and opens a new SELL trade.
The lot-size is based upon the MONEY_MANAGEMENT setting. If MONEY_MANAGEMNT is set to false, the lot-size is set to the fixed LOT_SIZE value. However, if the setting is true, the lot-size is calculated based on the RISK_PERCENT and the initial stop-loss.
This Expert Advisor employs two levels of stop-loss – an initial stop-loss that is based on the Highest High and Lowest Low of the recent STOP_PERIOD candles, and a dynamic stop-loss based on the Average True Range (ATR).
The initial stop-loss is the Lowest Low of the recent STOP_PERIOD for BUY trades, and the Highest High of the recent STOP_PERIOD for SELL trades. These levels also act as trailing stop.
If SL_ENABLED is set to true, the Expert Advisor employs a trailing stop using the Average True. The trailing stop trails the current price by Average True Range multiplied by the ATR_MULTIPLIER value.
