Breakouts

My adaptation of the Turtle S1 trading system for long positions only.

Criteria:
  1. SPY 50DMA > SPY 200DMA
  2. Quarterly Industry performance  is > Quarterly SPY performance
  3. Mechanical screener
  4. Intraday break above 20D high
  5. The previous break above its 20D high failed by falling back to its 2x ATR stop or 10D low
Notes:
  • Exit the trade if the price drops below the 10D low or the 2x ATR stop is hit, whichever comes first
  • Intraday counts, these criteria do not need to be on a closing basis