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Hi
Could anyone please offer advice w.r.t. Metastock Code for the Turtle
Trading System. (The complete system rules can be downloaded from
www.originalturtles.org/docs/turtlerules.pdf)
Briefly, one system included in the rules is as follows:
Enter on 55 day breakout, exiting on a 20 day breakout in the
opposite direction (if entered long then exit on 20 day short
breakout).
Stops : Stop is set at 2N.
N = ((ATR(19) + last days ATR)/ 20
{Basically 2 X 20 period Exponential Average True Ranges}
Pyramiding: A maximum of 4 extra units are added when in the position
moves in your favour in the following manner: For each 1/2 N move
after initial entry, add 1 unit. All existing stops are then moved to
the same position as the most recent unit's stop, whereafter they
remain fixed and do not form trailinng stops.
Regards
Dieter
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