Trend Pullback Reversal TPR indicator for MultiCharts

 
Please note that this is for MultiCharts, not MultiCharts.NET


The TPR(Trend Pullback Reversal) indicator forms a possible price trend line and the trend line can be used as support & resistance level, it also provides Pullback and Reversal signals.

TPR works on all timeframes and all symbols and all type of bar chart.
TPR never repaints.

There are 4 Parameters:

1. Period: number of bars used for calculations
2. Factor: Multiplier factor, small number for short trend, large number for long trend
3. ShowSignal: enable to show the signal dots
4. ShowBand: enable to show band and center line

Click an image to view at full size.



We use the same algorithm for the TPR on all platforms, it will work exactly the same on any platform, you can also view some screenshot and videos we took from other platforms.

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 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.

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 following image is a comparision of TPR and BOLL.
































The TPR band gives a possible range of the TPR movement, if TPR is outside of the band for many bars or far away from the band, it could be a sign of trend reversal.
The chart below is an example of TPR outside of band.






You can see how TPR reacts to price movement from the following images.
The orange and cyan dots give possible reversal signals.

If you are familiar with 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 ealier than supertrend, as shown in the charts below, but that's not the main difference between them.

The most important difference bewteen TPR and supertrend is that TPR can be used as 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.

As you can see, the line from TPR provides a very good support and resistance level, but supertrend is far away from the price bar which cannot be used as support and resistance level at all.

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.

For more screenshots please visit:  https://t.co/JQacXoMsNG

CCI DOUBLE DIVERGENCE indicator and scanner for Multicharts

Divergence indicator is a very common and useful tool in technical analysis. It indicates possible reversal signals when there are discrepancies between an indicator and price movement. For more details of the general definition of divergence indicator please check this link:  https://goo.gl/GTJy17



What is CCI Double Divergence?


The concept of Double divergence is straightforward. It is triggered when there are two continuous divergences in a row between current High and previous Peak. Comparing to normal divergence indicator, the double divergence indicator gives confirmations two at a time, which is more reassuring and revealing.

For example, the chart below shows regular bearish CCI Double divergence and regular bullish CCI Double divergence.








Features and inputs:


This indicator will draw the following at the end of a bar (when a bar is closed):

1.     a letter R above a bar if there is a Regular bearish divergence occurred.
2.     a letter H above a bar if there is a Hidden bearish divergence occurred.
3.     a letter R below a bar if there is a Regular bullish divergence occurred.
4.     a letter H below a bar if there is a Hidden bullish divergence occurred.
5.     two lines from signal bar's High to previous peaks if there is a Regular bearish divergence occurred.
6.     two lines from signal bar's Low to previous troughs if there is a Regular bullish divergence occurred.
7.     two lines from signal bar's CCI value to previous peaks or troughs CCI values.
8.     Instant signal right after on current bar close, no repaint.
9.     Alert when a signal appear.
10.     Select different sound alert files.
11.     Enable to show divergence trend lines.
12.     Control the CCI inputs at the same time.

    Please use the following available colors for divergence line color: Black  Blue  Cyan  DarkBlue  DarkBrown  DarkCyan  DarkGray  DarkGreen   DarkMagenta  DarkRed  DarkYellow  Green  LightGray  Magenta  Red  White  Yellow

    Please note: it only works on regular and Heikin-Ashi chart.



This package also comes with a scanner, it will display when the last DOUBLE DIVERGENCE occurred. 




Please make sure you select  "CCI Double Divergence Scanner" in Scanner, not "CCI Double Divergence".


It has less input than the DOUBLE DIVERGENCE indicator.

    ShowHidden, if set to true it will scan both hidden and regular DOUBLE DIVERGENCE.
    if set to false it will only scan regular DOUBLE DIVERGENCE.

    Range, is the number of bars to check the existence of DOUBLE DIVERGENCE.
    
    If set it to 20 it will only check if there was a DOUBLE DIVERGENCE within the last 20 bars.
    
    If set it to 10 it will only check if there was a DOUBLE DIVERGENCE within the last 10 bars.



For example, as the selected row in the image below, there's a CCI bullish hidden double divergence detected at 1 bar ago of GBPJPY 5 minutes chart.


Please make sure you use the same inputs for both indicator and scanner.


Click the image to view in full size.

RSI DOUBLE DIVERGENCE indicator and scanner for Multicharts

Divergence indicator is a very common and useful tool in technical analysis. It indicates possible reversal signals when there are discrepancies between an indicator and price movement. For more details of the general definition of divergence indicator please check this link:  https://goo.gl/GTJy17


What is RSI Double Divergence?

The concept of Double divergence is straightforward. It is triggered when there are two continuous divergences in a row between current High and previous Peak. Comparing to normal divergence indicator, the double divergence indicator gives confirmations two at a time, which is more reassuring and revealing.

For example, the chart below shows a regular bearish RSI Double divergence and a hidden bullish RSI Double divergence.
 

The following chart shows the regular bullish RSI Double divergence and  hidden bearish RSI Double divergence.

Features and inputs:

This indicator will draw the following at the end of a bar (when a bar is closed):

• a letter R above a bar if there is a Regular bearish divergence occurred.

• a letter H above a bar if there is a Hidden bearish divergence occurred.

• a letter R below a bar if there is a Regular bullish divergence occurred.

• a letter H below a bar if there is a Hidden bullish divergence occurred.

• two lines from signal bar's High to previous peaks if there is a Regular bearish divergence occurred.

• two lines from signal bar's Low to previous troughs if there is a Regular bullish divergence occurred.

• two lines from signal bar's RSI value to previous peaks or troughs RSI values.

• Instant signal right after on current bar close, no repaint.

• Alert when a signal appear.

• Select different sound alert files.

• Enable to show divergence trend lines.

• Please use the following available colors for divergence line color: Black  Blue  Cyan  DarkBlue  DarkBrown  DarkCyan  DarkGray  DarkGreen   DarkMagenta  DarkRed  DarkYellow  Green  LightGray  Magenta  Red  White  Yellow

• Please note: it only works on regular and Heikin-Ashi chart.

• Control the RSI inputs at the same time.

 

This package also comes with a scanner, it will display when the last DOUBLE DIVERGENCE occurred.  

Please make sure you select  "RSI Double Divergence Scanner" in Scanner, not "RSI Double Divergence".

It has less input than the DOUBLE DIVERGENCE indicator.

1. ShowHidden, if set to true it will scan both hidden and regular DOUBLE DIVERGENCE.
   if set to false it will only scan regular DOUBLE DIVERGENCE.

1. Range, is the number of bars to check the existence of DOUBLE DIVERGENCE.
    
   If set it to 20 it will only check if there was a DOUBLE DIVERGENCE within the last 20 bars.
    
   If set it to 10 it will only check if there was a DOUBLE DIVERGENCE within the last 10 bars.
   
   

For example, as the selected row in the image below, there's a RSI bullish hidden double divergence detected at 1 bar ago of GBPJPY 5 minutes chart.

Please make sure you use the same inputs for both indicator and scanner.

The following videos show how it plots in real time replay.

True Center Band (TCB) indicator for MultiCharts

You might wonder, is there an indicator can show the trend, different levels of support and resistance, and the boundary of price action? The answer is yes, True Center Band (TCB) indicator is capable of doing all of them.

It consists of one center line to measure the center of price range within a given period,
and three channels (bands) represent different support and resistance levels.







True Center Band may look like some other indicators, such as Center of Gravity (COG) and polynomial Regression Channel (PRC). But there is one major difference, TCB never repaints, because it is not calculated by future data. Reliability makes TCB looks good, works better.

True Center Band is specially designed to work on all intraday charts (tick, mins, renko, range, etc.) and daily chart. It also works on all markets (Stocks, Futures, Forex, Options,ETF, etc.)


A good indicator should make complicated things simple.
Therefore, there is only 1 parameter.

Period: the number of bars used to calculate the True Center Band (TCB).

It's very easy to understand, if you want TCB to plot a long-term trend then set a big number such as 50.

If you want to see a short-term trend, then set a small number such as 15.

True Center Band will automatically plot the support and resistance levels based on the total number of bars loaded on chart. 

For the same symbol, same date and time range and timeframe, if we load 10 days TCB will plot like the image below. The bands become much wider than the chart above, that's because the price range in the past 10 days is wider than the past 2 days.




For Minute chart of more than 30mins, in order to see a longer range of support and resistance levels, it's better to load more days in "Chart Settings".

If we load 50 days for a 30-min chart, the support and resistance lines will be calculated by the data from last 50 days.

If you want to see the recent range of support and resistance levels, then just load the number of days you desire.

















Take a closer look at this video below, you will find out how Polynomial Regression Channel indicator (PRC2) repaints and TCB doesn't repaint at all.


These videos are TCB in different chart types.


Albums of different chart type:

 

Minutes chart

Tick chart

Renko chart

Daily chart

Range chart

Examples of How to use True Center Band indicator on Minute charts.

Examples of How to use True Center Band indicator on Daily charts.

How to correctly set up True Center Band indicator.