About the Turtle Trader Expert Advisor
The Turtle Trader Metatrader 4 Forex robot is an expert advisor that implements a long-term channel breakout strategy using the 55-day price high and low as a measuring tool for buy/sell market triggers.
The EA is also built around the martingale strategy.
The Turtle Trader EA is known to automatically track the most recent market volatility, and it also calculates the optimal trading lot size based on your account.
Seemingly, the visualization of three Donchian channels on the price chart is implemented using the Turtle Trader algorithm.
Its algorithm aids in the tracking of trades and closing of positions that comply with the breakout of the fast channel or even the addition of positions after definite volatility intervals.
The Turtle Trader forex robot can automatically set and move stops.
The Turtle robot has an amazing win rate. See the strategy tester report below.
Free Download
Download the “TurtleTraderV1_0_1.mq4” MT4 robot
Key Features
Breakout Channel Entries
The Turtle Trader EA uses D-period high/low channel breakout rules—commonly 20 and 55 bars—to identify emerging trends for entry setups that follow the original Turtle methodology.
Volatility-Based Position Sizing
Position sizing uses Average True Range (ATR)—adjusted by account equity—to calculate “N” (unit size), ensuring smaller positions in volatile conditions and larger ones when markets are calm.
Risk Controls & Pyramiding
The EA applies fixed fractional risk per trade (e.g., 1% of account equity) and supports pyramiding additional units into a trending move, following Turtle rules for staggered entries.
Systematic Exit Rules
Exit logic follows Turtle strategy: stop-loss based on multiple of N, plus optional trailing stop based on shorter breakout channel (e.g., 10-day low for exiting 20-day entries).
Strategy Tester Report
Find below the Turtle Trader forex robot strategy tester report for the EUR/USD forex pair on the 1-minute chart.
Overall Performance
The EA made a total profit of $112803.31 from a total of 41797 trades.
The largest winning trade generated $916.00 in profits, while the largest losing trade generated a loss of $1239.08.
Statistics:
Bars in test: 3335179 ticks modelled
Initial deposit: $10000.00
Total net profit: $112803.31
Total trades: 41797
Largest profit trade: $916.00
Largest loss trade: -$1239.08
Consecutive wins: 32
Consecutive losses: 1
How the EA Works
- Calculates breakout levels: D-period high and low for entry (e.g., 55-day channel breakout).
- Computes “N”—based on ATR and account risk—to determine trade size per Turtle methodology.
- Enters one unit when price breaks out in the direction of the trend; optional pyramiding enters additional units as the trend continues.
- Sets stop-loss at a fixed multiple of N below entry (for longs) or above entry (for shorts).
- Exits via stop-loss or on reverse breakout (e.g., 10-day low) or optional trailing mechanism.
Download Now
Download the “TurtleTraderV1_0_1.ex4” Metatrader 4 robot
Parameters & Settings
- BreakoutPeriodEntry — number of bars for breakout entry (e.g., 20 or 55).
- BreakoutPeriodExit — bars for exit signal (e.g., 10-day low/high).
- RiskPercent — percent of equity to risk per unit (standard is 1%).
- ATRPeriod — period for ATR calculation to generate N.
- PyramidUnits — number of additional units allowed per trend.
- StopLossATRMultiple — ATR multiples to place stop-loss (e.g., 2×N).
- TrailingStopEnabled — toggle trailing via breakout reverse or fixed offset.
Recommended Trading Setup
- Pairs: majors like EURUSD, USDJPY, GBPUSD—for consistent volatility and trend structure.
- Timeframe: Daily charts (D1) to mirror original Turtle methodology and reduce noise.
- Account Type: ECN or low-spread broker for reliable breakout execution.
- Risk: Use 1% per unit; total exposure scales with pyramiding rules.
- Backtesting: Run multi-year tests with both 20- and 55-day setups to compare trend capture vs drawdown profiles.
FAQ
Is this the original Turtle Trading strategy?
Yes — the EA closely follows the classic Turtle rules: breakout entries, ATR-based sizing, pyramiding, and systematic exits.
Can I run both 20- and 55-period strategies together?
Yes — you can load two instances of the EA with different .set files to diversify your trend system across shorter and longer breakout horizons.
How do I manage pyramiding risk?
Adjust PyramidUnits to control how many additional entries the EA will add. Use a separate risk per unit or a lower RiskPercent if enabling full pyramiding.
What if volatility spikes suddenly?
ATR-based N sizing helps the EA reduce unit size during volatile periods. Nonetheless, we recommend using protective equity filters or manual monitoring during news events.
How can I test before live trading?
Use the included .set files in MT4’s Strategy Tester on historical data for at least several years. Compare performance with different confirmation filters and on multiple pairs.
Summary
The Turtle Trader EA for MetaTrader 4 brings the renowned Turtle Trading trend-following system into automated form.
Featuring breakout entries, volatility-based sizing, pyramiding, and systematic exits, it offers disciplined, rule-driven trading.
Download the free package, load the classic settings, demo-test across market regimes, and apply a time-tested strategy with automation to your trading routine.
