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0 item(s) - FreeCustomization and Conversion for: Ctrader, MetaTrader(MT4, MT5), Thinkorswim, NinjaTrader, MultiCharts, Tradingview, Prorealtime, SierraChart, etc.
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Trend Pullback Reversal TPR indicator and Market Analyzer for NinjaTrader 8 1 year license
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For more screenshots please visit: https://t.co/JQacXoMsNG
The TPR(Trend Pullback Reversal) indicator forms a possible price trend with Pullback and Reversal signals.
The NinjaTrader 8 version comes with a unique band and center line as additional features.
TPR works on all timeframes and all symbols and all type of bar chart.
TPR never repaints.
Parameters:
TPR Factor
Controls the sensitivity of the TPR trend lines.
A higher value places the trend bands farther away from price, resulting in fewer but stronger signals. A lower value makes the indicator more responsive but may increase noise.
TPR Period
Defines the number of historical bars used to calculate the underlying trend.
Smaller values make the indicator react faster to price changes, while larger values produce smoother and more stable trend detection.
Potential Rebound Signal
Enables early signals that indicate a possible price rebound within an existing trend.
These signals are typically more aggressive and can help anticipate reversals before full confirmation.
Enable PullBack Channel
Turns on the pullback channel, which highlights retracement zones within a trend.
This helps identify potential entry areas during temporary counter-trend movements.
PullBack Channel Factor
Adjusts the width of the pullback channel.
Higher values create a wider channel (looser pullback zones), while lower values tighten the channel for more precise entries.
Enable Trailing Band
Activates a trailing band that follows price action.
This feature is commonly used for dynamic stop-loss placement or trend-following exits.
Trailing Band Width in Ticks
Specifies the distance between price and the trailing band, measured in ticks.
Larger values provide more room for price fluctuations, while smaller values keep the band tighter for more aggressive risk management.
The new feature of Trend Duration Table will show the following six data on chart.
- Longest Up-Trend: the max number of bars stay on up trend based on the current chart.
- Avg Up-Trend: the average number of bars stay on up trend based on the current chart.
- Latest Up-Trend: the number of bars stay on previous or current up trend.
- Longest Down-Trend: the max number of bars stay on down trend based on the current chart.
- Avg Down-Trend: the average number of bars stay on down trend based on the current chart.
- Latest Down-Trend: the number of bars stay on previous or current down trend.
For more info about the Trend Duration Table please visit https://patternsmart.blogspot.com/2024/11/trend-duration-table-provides-valuable.html
This is a video of how TPR indicator on NT8 performs in a relatively long-term downtrend of Forex AUDUSD 5 min chart.
You may think it looks like supertrend or braintrend, right?
Actually, most trend indicators have a similar plot, the differences are where and when they give signals.
Unlike other trend indicators, TPR will focus on the main trend and filter out most minor price movements. The green cross-line represents an uptrend, the red cross-line represents a downtrend, and the blue dots are signals for possible reversals.
The additional band and center line may look like bollinger band, but the TPR band algorithm is completely different from bollingerband. There is no standard deviation in TPR band calculation.
The following image is a comparison of TPR and BOLL.
The TPR band gives a possible range of the TPR movement, if TPR is outside the band for many bars or far away from the band, it could be a sign of trend reversal.
The chart below is an example of TPR outside of band.
You can see how TPR reacts to price movement from the following images.
The orange and cyan dots give possible reversal signals.
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The following image shows where you can find the TPR column in Market Analyzer.
It will display "Uptrend start" if the current bar is the first bar that turns into uptrend.
It will display "Downtrend start" if the current bar is the first bar that turns into downtrend.
Otherwise, it will display "Uptrend" or "downtrend" in corresponding indicator status.
If you are familiar with the Supertrend indicator, you may think the TPR is almost the same as Supertrend. In this case, you should read the following content.
If only check the line plot from both Supertrend and TPR, it's easier to notice that TPR may change trend earlier than supertrend, as shown in the charts below, but that's not the main difference between them.
The most important difference between TPR and supertrend is that TPR can be used as a support and resistance indicator as well, not just a trend indicator.
The following 2 charts have both TPR and supertrend. The solid line is from supertrend, the cross line is TPR.
As you can see, the line from TPR provides a very good support and resistance level, but supertrend is far away from the price bar which cannot be used as support and resistance level at all.
In short, if you only need a trend indicator, both TPR and Supertrend will do the job.
But if you also want it to provide support and resistance level, TPR is much better than supertrend.
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