TTPro TrendChannel V12

Jun 25, 2019

// TTPro TrendChannel is a shaded channel that clearly defines the trend. If price action is below the channel then trend is bearish.
// If candles are within the channel we have a ranging market, and if price action is above the channel, the trend is bullish. This indicator is useful for both range traders and trend trade

Jan 31, 2022

Release Notes

Update to version 5, added trend bands calculated by atr values, added pinbar alerts, range break alerts.

Jan 9

Release Notes

Removed old channels and alerts to reduce coding and made changes to how the trend ATR values are calculated and added buy sell alerts plus update to version 5

Jan 9

Release Notes

Amend linewidth and labeling.

Jan 26

Release Notes

Rename labels from 'Buy' 'Sell' to 'Break'

Nov 29

Release Notes

Key changes to the TrendChannel indicator

1. Expanded Input Settings
The indicator now has 8 organized input groups (vs. simple inputs before):

Cloud visualization settings (opacity and color controls)
ATR line appearance customization
Dual trend channel system (two sets of multipliers and periods)
TTPro Bands added (two independent band systems with TMA calculations)
Separate breakout signal controls (Br1 and Br2)
Pinbar/TP alert system with quality and length parameters
New extreme confluence detection settings (RSI, Stochastic, CCI, MFI thresholds)

2. New Technical Components

TTPro Bands: Two sets of bands using weighted moving averages (WMA) and smoothed WMA with ATR-based ranges
Dual Trend Channels: Now tracks two trend levels (Trend 1 and Trend 2) instead of one
Pinbar Detection: Custom function (lele) that identifies bullish/bearish pinbars based on configurable quality and length
Extreme Confluence System: Combines four oscillators (RSI, Stochastic, CCI, MFI) to identify overbought/oversold conditions when ALL agree
Band Cross Detection: Monitors when price crosses the upper or lower TTPro bands

3. Enhanced Visual Elements

Cloud fill between the two trend channels
Six band lines plotted (upper/middle/lower for two band systems)
Additional signal markers: pinbar dots, confluence crosses (×), band cross circles
Break signals split into two types (Break1 and Break2) with improved logic

4. Sophisticated Alert System
Replaced 2 simple alerts with 7 comprehensive alerts:

Bullish/Bearish/Any breakout alerts
Bundled reversal/TP/exit alert
Directional exit alerts: Separate warnings for exiting bullish vs. bearish trades based on signal location

5. Calculation Improvements

Added non-repainting option for trend calculations
More complex breakout logic with invalidation tracking (BoS - Break of Structure)
Multi-oscillator confluence requires ALL indicators to agree simultaneously

The overall transformation converts a simple trend-following indicator into a comprehensive trading system with multiple confirmation layers, reversal detection, and context-aware exit signals.

Dec 3

Release Notes

Made some cosmetic changes for visual improvement removing some of the labels that were on the chart