Bitcoin Turtle Breakout Strategy with ATR Stops and Partial Exits

Summary

This TradingView paper strategy describes a long-only Turtle-style approach for daily Bitcoin prices on Bitstamp. It enters when the close rises above the previous 20 days’ high, provided price is above a 50-day simple moving average. An initial stop is set 1.5 ATR below the entry price, using ATR measured at the signal. The script exposes inputs for breakout and exit channel lengths, ATR settings, risk display, and several partial-exit variants.

The variants take partial profits at specified multiples of initial risk, then move the remaining position’s stop to breakeven; the baseline relies on a 10-day channel exit. The code also includes chart labels and risk/reward boxes, and states that it is for visual paper trading rather than sending live orders. The supplied excerpt ends partway through the drawing logic, so the complete exit implementation cannot be assessed. Although the strategy declaration specifies commission and slippage assumptions, the document provides no performance results or evidence that the approach is profitable.

Key ideas

• The strategy enters long after a close breaks above the preceding high channel while price is above its moving average.
• An initial protective stop is placed using ATR measured around the entry signal.
• The baseline exits on a close below a shorter low channel, while alternatives take partial profits and move the remaining stop to breakeven.
• The script is described as a visual paper strategy for daily BTCUSD charts and does not place exchange orders.
• The excerpt is incomplete and reports no backtest performance.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.