Indicator: Trend Trigger Factor

Introduced by M.H.Pee, Trend Trigger Factor is designed to keep the trader trading with the trend.

System rules according to the developer:
* If the 15-day TTF is above 100 (indicating an uptrend), you will want to be in long positions.
* If the 15-day TTF is below -100, you will want to be short.
* If it is between -100 and 100, you should remain with the current position.

More info:
Original Article by Mr.Pee:
Remove from Favorite Scripts Add to Favorite Scripts
// @author LazyBear
study("Trend Trigger Factor [LazyBear]", shorttitle="TTF_LB")
bt = input( 100, title="Buy Trigger")
st = input( -100, title="Sell Trigger")
markCrossovers=input(false, type=bool)

prev(s,i) =>

calc_ttf( periods ) =>
    bp = highest( high, periods ) - prev( lowest( low, periods ), - periods )
    sp = prev( highest( high, periods ), - periods ) - lowest( low, periods )
    100 * (bp - sp) / ( 0.5*( bp + sp) )

ttf = calc_ttf( length )
plot(0, color=gray)
btl=plot(bt, color=gray, style=3)
stl=plot(st, color=gray, style=3)

long_f = cross( ttf, st ) and rising(ttf, 1)
short_f = cross(ttf, bt ) and falling(ttf, 1)

bs = (ttf > bt) ? bt : ttf
us = (ttf < st) ? st : ttf
bl=plot(bs, color=white)
ul=plot(us, color=white)
tl=plot(ttf, title="TTF", color=markCrossovers ? (long_f ? green : short_f ? red : blue) : maroon, linewidth=2)
fill(bl, tl, color=green, transp=75)
fill(ul, tl, color=red, transp=75)
Interesting in understanding the following formula, for which values of s and i dont understand. prev(s,i) =>
s Thanks.
+4 Reply
what kind of statement the following codes are? A switch statement: #prev(s,i) =>
# y=abs(round(i))
# s

#calc_ttf( periods ) =>
# bp = highest( high, periods ) - prev( lowest( low, periods ), - periods )
# sp = prev( highest( high, periods ), - periods ) - lowest( low, periods )
# 100 * (bp - sp) / ( 0.5*( bp + sp) )

You should be advanced into a Mod position:) You would be the only one that earned it in a hard way. Great and appreciate it work.
+1 Reply
LazyBear sublimares2
thanks sublimares2. :)
LudmilaHanania sublimares2
Totally agree about LazyBear, he is doing a marvellous job with the indicators.
LazyBear LudmilaHanania
Yet another useful indicator... Thanks LB
LazyBear primaindustria
yw :)
pcmourao LazyBear
Hey LB, is it possible for you to write a script that automatically identify's Gartley and Harmonic Patterns? Something like this script for MT4 . It automatically draws on the chart the pattern as it's forming based on price and Fib levels until the pattern is complete.
LazyBear pcmourao
Pine script currently has no support for many of the constructs needed to do a script like this. Will post one as soon as we get the support (or I find a workaround).
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