694# Turtle Method Scalping
High Frquency Trading
Donchian Reversal Scalping
Submit by Dimitri
Turtle Method Scalping is a strategy based on Donchian Channel is a trend following system, suitable for volatile markets.
Setup strategy
Time Frame 1 min but also higher time frame but here there is the setting for 1 minute time frame.
Financial markets: volatile markets like GBP /JPY, EUR / JPY, OUT / AUD, GBP / USD, EUR / NZD
Don't trade 20 minutes before and after high news impact.
Make sure you have low spreads (<1.3 pips)
Metatrader 4 Indicators (all non-repaint):
Turtle channel 50-20
Turtle channel 50-15
RSI (period 2, oversold level 15, overbought level 85).
Ilyaz4 (12, periods), trend indicator.
Oscillator Stochastic (5,
3,3).
Trading Rules
Buy:
- trend changed from red to white;
- when the price entered the oversold area of the turtle channel;
- when the RSI is/was oversold;
- then wait that stochastic crosses upward from oversold.
Sell
- Trend changed from white to
red;
- when the price entered the overbought area of the turtle channel ;
- when the RSI is/was overbought;
- then wait that stochastic crosses downward from overbought.
Max two trades in the same
direction.
Exit position
Place initial stop loss below/above the previous swing high/low.
Profit Target ratio stop loss 1:2.
Example of trades.
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