Trend Trigger Factor Alerts
- Indicators
- Libertas LLC
- Version: 1.0
Detect strength for uptrends and downtrends by tracking Buy Power and Sell Power. Stay on the right side of the market by being able to determine whether the market is in a bull or bear trend and how strong the trend is.
Free download for a limited time! We hope you enjoy, with our very best wishes during this pandemic!
Trend Trigger Factor aims to ride out sideways movement, while positioning the trader in the correct side of the market to capture big trends when they occur. It was originally designed by M.H. Pee, as an "always-in-the-market" strategy. We've expanded this with early warning signals and alerts to help you quickly change positions and capture the trend without constantly staring at the screen.
Trend Trigger Factor is plotted on a scale where values above +100 and below -100 indicate situations of greater buy or sell power.
How to Use
- Enter long position when the indicator goes above +100 (shows green fill). Stay in position until indicator shows short position (below)
- Enter short position when the indicator goes below -100 (shows red fill). Stay in short position until indicator shows long position (above)
- Early warning alert: in trendy markets, TTF can reiterate a long / short position multiple times before the trend is over. But, during more choppy / sideways markets, it can be better to exit a position when the indicator exits the trigger area (i.e., was > 100 but then moves lower than 100, exit long position). TTF has an early warning alert when this happens, this is a good time to set trailing stop losses, and consider whether the trend looks strong or should be exited.
- Here's a riskier method to capture more profit: Enter a position on the alerts not on the confirmation. So, enter a long position when TTF gives an "early warning to exit short" (it was below 100 but now rising above). This works particularly well during range-bound markets.
Alerts
Message, sound, and email alerts can be activated when the trend moves upward or downward. Dot indicators can be turned on/off and recolored in Parameters.
Alerts include early warnings of weakening trends and confirmation signals. Early warning alerts can be independently turned off.
Parameters
- Calculation length: # intervals to use to calculate indicator
- Buy trigger threshold: Threshold to identify a "bought" state for indicator and alerts (+100 default)
- Sell trigger threshold: Threshold to identify a "sold" state for indicator and alerts (-100 default)
- Mark trigger crossover: Color indicator line to mark crossovers of the threshold; corresponds to the alerts
- Fill zones: Color fill for indicator areas outside of trigger thresholds
- Turn on alerts message: If true, turns on message box alerts (when indicator line crosses control)
- Turn on alerts sound: If true, turns on alerts sound (when indicator line crosses control)
- Turn on alerts email: If true, turns on alerts email (when indicator line crosses control)
- Wait on new candle opening: If true, waits to trigger alert until the opening of the next candle (so that if a current candle dips quickly but recovers, it will prevent a false positive). We tend not to use this, and prefer a faster entry point, but it depends on your trading style!
- Colors: Options to specify custom colors for different components of the indicator (indicator line, control line, dots, etc)
iCustom
You can integrate this indicator into your EA! After downloading, developers can use the following code to incorporate this:
iCustom(NULL,0,"Trend Trigger Factor",15, 100, -100, true, true, false, false, false, false, clrGray, clrGray, clrGray, clrGray, clrGray, clrGray, 0, 0); // TTF indicator value
iCustom(NULL,0,"Volume Accumulation Percentage Indicator",10, 10, false, false, false, false, false, false, clrGray, clrGray, clrGray, clrGray, clrGray, 3, 0); // TTF alerts for upward crossing (EMPTY_VALUE or not empty)
iCustom(NULL,0,"Volume Accumulation Percentage Indicator",10, 10, false, false, false, false, false, false, clrGray, clrGray, clrGray, clrGray, clrGray, 4, 0); // TTF alerts for downward crossing (EMPTY_VALUE or not empty)
Good indicator. Many thanks for sharing