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Trend Pullback Reversal TPR indicator for NinjaTrader NT8
The TPR indicator forms a possible price trend with Pullback and Reversal signals.
This is a video of how TPR indicator on NT8 performs in a relatively long-term downtrend of Forex AUDUSD 5min 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 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.
There are 2 Parameters:
Click the following link to view:
Trend Pullback Reversal TPR indicator vs supertrend indicator
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.
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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