Bitcoin Turtle Breakouts with ATR Stops and Optional Partial Exits

Summary

This paper-trading strategy adapts a Turtle-style channel breakout to daily Bitcoin prices. It opens a long position when the close exceeds the prior breakout lookback high and is above a simple moving average filter. An ATR-based initial stop defines a protective exit, while a channel low over a shorter lookback provides a separate trend exit. The code specifies a Bitstamp BTCUSD chart and includes commission and slippage assumptions.

Optional variants take a partial profit at a multiple of initial risk and move the remaining stop to breakeven after the reduction. The strategy is long-only, does not pyramid, and is explicitly described as a visual paper strategy rather than an order-routing system. It includes charts and labels for stops, targets, and trade outcomes, but the document presents no backtest statistics. A risk percentage input is present, though the displayed strategy sizing is set to a percentage of equity; users should not assume that input controls actual trade size.

Key ideas

• A long entry requires a close above a prior-period breakout level and above the moving-average filter.
• An ATR multiple sets the initial stop, while a shorter-period channel low triggers a trend exit.
• Optional variants reduce part of the position at a risk-based target and move the remaining stop to breakeven.
• The script is intended for daily Bitcoin paper analysis and does not send exchange orders.
• The document gives no performance results, and its risk percentage input does not set the configured strategy order size.

Tags

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