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The TPR(Trend Pullback Reversal) indicator forms a possible price trend with support and resistance lines.
It also 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.
There are 4 Parameters:
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 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.
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.
Please provide your Tradingview ID, you will get perpetual access after the payment is clear.
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