Turtle Trading Strategy: Free TradingView Strategy (Pine Script)

Add It to Your TradingView Chart

1Copy the scriptPress Copy script above, or the copy button on the code below.
2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
3Paste over the templateCreate a new strategy, select all of the template text and paste. Press Save and give it a name.
4Add it to the chartPress Add to chart. The trades and results appear in the Strategy Tester tab; adjust the settings with the gear icon.

Source Code

170 lines of Pine Script v5 from strategies/turtles/pinescript/strategy.pine, published under MIT. Keep the author's credit and licence lines when you reuse it.

strategy.pine

//@version=5
strategy(title="Turtle Trading Strategy", shorttitle="TurtleStrategy", overlay=true, default_qty_type=strategy.percent_of_equity, default_qty_value=10, commission_type=strategy.commission.percent, commission_value=0.1)

// === INPUT PARAMETERS ===
// Donchian Channel Settings
channelLength = input.int(10, minval=1, title="Donchian Channel Length", group="Channel Settings")

// SMMA Trend Filter Settings
len1 = input.int(21, minval=1, title="SMMA 1 Length", group="Trend Filter")
len2 = input.int(50, minval=1, title="SMMA 2 Length", group="Trend Filter")
len3 = input.int(100, minval=1, title="SMMA 3 Length", group="Trend Filter")
len4 = input.int(200, minval=1, title="SMMA 4 Length", group="Trend Filter")
showSMMA = input.bool(true, title="Show SMMA Lines", group="Trend Filter")

// Risk Management Settings
riskPerTrade = input.float(50.0, minval=1.0, title="Risk Per Trade ($)", group="Risk Management")
riskRewardRatio = input.float(3.0, minval=1.0, title="Risk:Reward Ratio", group="Risk Management")
usePercentRisk = input.bool(false, title="Use Percent Risk", group="Risk Management")
percentRisk = input.float(2.0, minval=0.1, maxval=10.0, title="Risk Percentage", group="Risk Management")

// Pattern Recognition Settings
use3LineStrike = input.bool(true, title="Use 3-Line Strike", group="Pattern Recognition")
useEngulfing = input.bool(true, title="Use Engulfing Patterns", group="Pattern Recognition")

// Display Settings
showTradeInfo = input.bool(true, title="Show Trade Information", group="Display")
showPerformance = input.bool(true, title="Show Performance", group="Display")

// === SMOOTHED MOVING AVERAGES ===
smma(src, length) =>
    var float smma = na
    smma := na(smma[1]) ? ta.sma(src, length) : (smma[1] * (length - 1) + src) / length
    smma

smma1 = smma(close, len1)
smma2 = smma(close, len2)
smma3 = smma(close, len3)
smma4 = smma(close, len4)

// Plot SMAs
plot(showSMMA ? smma1 : na, color=color.yellow, linewidth=2, title="SMMA 21")
plot(showSMMA ? smma2 : na, color=color.green, linewidth=2, title="SMMA 50")
plot(showSMMA ? smma3 : na, color=color.blue, linewidth=1, title="SMMA 100")
plot(showSMMA ? smma4 : na, color=color.red, linewidth=2, title="SMMA 200")

// Trend Fill
ema2 = ta.ema(close, 2)
trendFill = ema2 > smma4 ? color.new(color.green, 85) : color.new(color.red, 85)
fill(plot(ema2, display=display.none), plot(smma4, display=display.none), color=trendFill, title="Trend Fill")

// === PATTERN RECOGNITION ===
// 3-Line Strike Patterns
bearStrike = use3LineStrike and close[3] > open[3] and close[2] > open[2] and close[1] > open[1] and close < open[1]
bullStrike = use3LineStrike and close[3] < open[3] and close[2] < open[2] and close[1] < open[1] and close > open[1]

plotshape(bearStrike, style=shape.triangledown, color=color.red, location=location.abovebar, size=size.tiny, text="3S")
plotshape(bullStrike, style=shape.triangleup, color=color.green, location=location.belowbar, size=size.tiny, text="3S")

// Engulfing Patterns
bullEngulf = useEngulfing and open <= close[1] and open < open[1] and close > open[1]
bearEngulf = useEngulfing and open >= close[1] and open > open[1] and close < open[1]

plotshape(bullEngulf, style=shape.triangleup, color=color.lime, location=location.belowbar, size=size.tiny, text="ENG")
plotshape(bearEngulf, style=shape.triangledown, color=color.red, location=location.abovebar, size=size.tiny, text="ENG")

// === DONCHIAN CHANNELS ===
upper = ta.highest(high, channelLength)
lower = ta.lowest(low, channelLength)
basis = (upper + lower) / 2

plot(upper, title="Upper Channel", color=color.white, linewidth=1)
plot(lower, title="Lower Channel", color=color.white, linewidth=1)

// Breakout Signals
bullBreakout = upper > upper[1]
bearBreakout = lower < lower[1]

bullSignal = bullBreakout and not bullBreakout[1]
bearSignal = bearBreakout and not bearBreakout[1]

// === TREND ALIGNMENT ===
trendBullish = smma4 < smma2 and smma2 < smma1
trendBearish = smma4 > smma2 and smma2 > smma1

// === TRADE CONDITIONS ===
longCondition = trendBullish and bullSignal
shortCondition = trendBearish and bearSignal

// === POSITION SIZING ===
var float stopDistance = na
var float positionSize = na
var float riskAmount = na

if longCondition or shortCondition
    stopDistance := 2.0  // Fixed stop distance
    riskAmount := usePercentRisk ? (strategy.equity * percentRisk / 100) : riskPerTrade
    positionSize := riskAmount / stopDistance

// === STRATEGY EXECUTION ===
if longCondition and strategy.position_size == 0
    strategy.entry("Long", strategy.long, qty=positionSize)
    strategy.exit("Long Exit", "Long", stop=close - stopDistance, limit=close + (stopDistance * riskRewardRatio))

if shortCondition and strategy.position_size == 0
    strategy.entry("Short", strategy.short, qty=positionSize)
    strategy.exit("Short Exit", "Short", stop=close + stopDistance, limit=close - (stopDistance * riskRewardRatio))

// === VISUAL SIGNALS ===
plotshape(longCondition, title="Long Signal", style=shape.triangleup, location=location.belowbar, color=color.lime, size=size.normal, text="LONG")
plotshape(shortCondition, title="Short Signal", style=shape.triangledown, location=location.abovebar, color=color.red, size=size.normal, text="SHORT")

// === TRADE LEVEL VISUALIZATION ===
var float entryPrice = na
var float stopPrice = na
var float targetPrice = na

if longCondition
    entryPrice := close
    stopPrice := close - stopDistance
    targetPrice := close + (stopDistance * riskRewardRatio)

if shortCondition
    entryPrice := close
    stopPrice := close + stopDistance
    targetPrice := close - (stopDistance * riskRewardRatio)

// Plot trade levels
plot(strategy.position_size != 0 ? entryPrice : na, title="Entry", color=color.white, linewidth=2, style=plot.style_line)
plot(strategy.position_size != 0 ? stopPrice : na, title="Stop", color=color.red, linewidth=2, style=plot.style_line)
plot(strategy.position_size != 0 ? targetPrice : na, title="Target", color=color.green, linewidth=2, style=plot.style_line)

// === INFORMATION TABLE ===
if barstate.islast and showTradeInfo
    var table infoTable = table.new(position.top_right, 2, 6, bgcolor=color.new(color.black, 80), border_width=1)
    table.cell(infoTable, 0, 0, "Turtle Strategy", text_color=color.white, text_size=size.small)
    table.cell(infoTable, 1, 0, "Status", text_color=color.white, text_size=size.small)
    table.cell(infoTable, 0, 1, "Position", text_color=color.white, text_size=size.tiny)
    table.cell(infoTable, 1, 1, strategy.position_size > 0 ? "LONG" : strategy.position_size < 0 ? "SHORT" : "FLAT", 
               text_color=strategy.position_size > 0 ? color.lime : strategy.position_size < 0 ? color.red : color.gray, text_size=size.tiny)
    table.cell(infoTable, 0, 2, "Risk/Trade", text_color=color.white, text_size=size.tiny)
    table.cell(infoTable, 1, 2, "$" + str.tostring(riskAmount, "#.##"), text_color=color.yellow, text_size=size.tiny)
    table.cell(infoTable, 0, 3, "Upper", text_color=color.white, text_size=size.tiny)
    table.cell(infoTable, 1, 3, str.tostring(upper, "#.##"), text_color=color.lime, text_size=size.tiny)
    table.cell(infoTable, 0, 4, "Lower", text_color=color.white, text_size=size.tiny)
    table.cell(infoTable, 1, 4, str.tostring(lower, "#.##"), text_color=color.red, text_size=size.tiny)
    table.cell(infoTable, 0, 5, "Trend", text_color=color.white, text_size=size.tiny)
    table.cell(infoTable, 1, 5, trendBullish ? "BULL" : trendBearish ? "BEAR" : "NEUTRAL", 
               text_color=trendBullish ? color.lime : trendBearish ? color.red : color.gray, text_size=size.tiny)

// === PERFORMANCE METRICS ===
if barstate.islast and showPerformance
    var table perfTable = table.new(position.bottom_right, 2, 4, bgcolor=color.new(color.black, 80), border_width=1)
    table.cell(perfTable, 0, 0, "Performance", text_color=color.white, text_size=size.small)
    table.cell(perfTable, 1, 0, "Value", text_color=color.white, text_size=size.small)
    table.cell(perfTable, 0, 1, "Net Profit", text_color=color.white, text_size=size.tiny)
    table.cell(perfTable, 1, 1, "$" + str.tostring(strategy.netprofit, "#.##"), 
               text_color=strategy.netprofit > 0 ? color.lime : color.red, text_size=size.tiny)
    table.cell(perfTable, 0, 2, "Win Rate", text_color=color.white, text_size=size.tiny)
    table.cell(perfTable, 1, 2, str.tostring(strategy.wintrades / (strategy.wintrades + strategy.losstrades) * 100, "#.#") + "%", 
               text_color=color.yellow, text_size=size.tiny)
    table.cell(perfTable, 0, 3, "Profit Factor", text_color=color.white, text_size=size.tiny)
    table.cell(perfTable, 1, 3, str.tostring(strategy.grossprofit / strategy.grossloss, "#.##"), 
               text_color=color.cyan, text_size=size.tiny)

// === ALERT CONDITIONS ===
alertcondition(longCondition, title="Long Entry", message="{{ticker}} LONG - Turtle Breakout")
alertcondition(shortCondition, title="Short Entry", message="{{ticker}} SHORT - Turtle Breakdown")

// Bar coloring based on trend
barcolor(trendBullish and bullBreakout ? color.lime : trendBearish and bearBreakout ? color.red : na, title="Turtle Bar Color")

Overview

Turtle Trading Strategy marks optional three-line strike and engulfing candle patterns. Inputs set a Donchian channel length, the four average lengths, a dollar or percentage risk amount, and a risk-to-reward ratio, plus toggles for trade and performance displays. The excerpt ends before the channel and order logic, so entries, exits, and stops are not shown.

Four SMMA trend lines
EMA versus long SMMA trend fill
Optional 3-line strike markers
Optional engulfing pattern markers
Dollar or percent risk and risk-reward inputs

Details

Published by

GreyssonEnterprises on GitHub

Type

Strategy, Pine Script v5

Draws

On the price chart

Markets

Any symbol

Timeframes

Any timeframe

Risk Notes

No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.

File

strategies/turtles/pinescript/strategy.pine

Repository

github.com/GreyssonEnterprises/trading-setups. See its other scripts in the library

Settings

The inputs you can change from the gear icon on the chart. Defaults are the author's.

Setting	Type	Default	Variable
Donchian Channel Length	`int`	`10`	`channelLength`
SMMA 1 Length	`int`	`21`	`len1`
SMMA 2 Length	`int`	`50`	`len2`
SMMA 3 Length	`int`	`100`	`len3`
SMMA 4 Length	`int`	`200`	`len4`
Show SMMA Lines	`bool`	`true`	`showSMMA`
Risk Per Trade ($)	`float`	`50.0`	`riskPerTrade`
Risk:Reward Ratio	`float`	`3.0`	`riskRewardRatio`
Use Percent Risk	`bool`	`false`	`usePercentRisk`
Risk Percentage	`float`	`2.0`	`percentRisk`
Use 3-Line Strike	`bool`	`true`	`use3LineStrike`
Use Engulfing Patterns	`bool`	`true`	`useEngulfing`

Show all 14 settings

Setting	Type	Default	Variable
Show Trade Information	`bool`	`true`	`showTradeInfo`
Show Performance	`bool`	`true`	`showPerformance`

Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.

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