The TPR indicator forms a possible price trend with Pullback and Reversal signals.
You may think it looks like supertrend or braintrend, right?
Actually, most trend indicators have 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:
- Period: umber of bars used for calculations
- Factor: Deviation factor
