Optimized Trend Tracker OTT

Optimized Trend Tracker OTT

Optimized Trend Tracker OTT is an indicator that provides traders to find an existing trend or in another words to see which side of the current trend we are on.

We are under the effect of the uptrend in cases where the prices are above OTT ,
under the influence of a downward trend, when prices are below OTT.

The first parameter in the OTT indicator set by the two parameters is the period/length.

OTT will be much sensitive to trend movements if it is smaller. And vice versa, will be less sensitive when it is longer.

As the period increases it will become less sensitive to little trends and price actions.

In this way, your choice of period, will be closely related to which of the sort of trends you are interested in.

The OTT percent parameter in OTT is an optimization coefficient. Just like in the period
small values ​​are better at capturing short term fluctuations, while large values
will be more suitable for long-term trends.

In addition, when OTT is used with the support line in it, buy and sell signals
it will become a producing indicator.

You can use OTT default alarms and Buy Sell signals like:

1-
BUY when Prices are above OTT
SELL when Prices are below OTT

2-
BUY when OTT support Line crosses over OTT line.
SELL when OTT support Line crosses under OTT line.

3-
BUY when OTT line is Green and makes higher highs.
SELL when OTT line is Red and makes lower lows.

Text from his author: KivancOzbilgic

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Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

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  1. MaoRai54 • 61 days ago #

    Hi, many thanks for this indicator but it doesn’t work. Need to define the AverageTypeVAR

  2. Iván • 61 days ago #

    Hi! If you download the indicator the variable will be defined. Anyway here you have again with default parameters:

  3. Iván • 61 days ago #

    //PRC_Optimized Trend Tracker | indicator
    //version = 0
    //14.02.24
    //Iván González @ http://www.prorealcode.com
    //Sharing ProRealTime knowledge
    ////developer: ANIL ÖZEKŞİ
    //////inputs
    src = customclose
    length = 2 //OTT period
    percent = 1.4 //OTT percent
    showsupport = 1 //Show Support Line
    showsignalsk = 1 //Show Support Line Crossing Signals
    showsignalsc = 0 //Show Price/OTT Crossing Signals
    highlight = 0 //Show OTT Color Changes
    highlighting = 1 //Highlighter On/Off
    AverageTypeVAR = 1 // use VAR average
    mav = 1 //Moving Average Type
    ///////indicator
    ////VAR
    if barindex < 9 then
    var = src
    else
    valpha=2/(length+1)
    if src > src[1] then
    vud1= src-src[1]
    vdd1= 0
    elsif src < src[1] then
    vud1= 0
    vdd1=src[1]-src
    else
    vud1=0
    vdd1=0
    endif
    vUD=summation[9](vud1)
    vDD=summation[9](vdd1)
    vCMO=(vUD-vDD)/(vUD+vDD)
    VAR=(valpha*abs(vCMO)*src)+(1-valpha*abs(vCMO))*VAR[1]
    endif
    if barindex < length then
    Mavg = src
    dir = 1
    else
    if AverageTypeVAR then
    Mavg = var
    else
    Mavg=average[length,mav](src)
    endif
    fark = Mavg*percent*0.01

    longStop = Mavg – fark
    longStopPrev = longStop[1]

    if Mavg > longStopPrev then
    longStop = max(longStop,longStopPrev)
    else
    longStop = longStop
    endif

    shortStop = Mavg + fark
    shortStopPrev = shortStop[1]

    if Mavg < shortStopPrev then
    shortStop = min(shortStop,shortStopPrev)
    else
    shortStop = shortStop
    endif

    if dir = -1 and Mavg > shortStopPrev then
    dir = 1
    elsif dir = 1 and Mavg < longStopPrev then
    dir = -1
    else
    dir = dir[1]
    endif
    endif

    if dir = 1 then
    MT = longStop
    else
    MT = shortStop
    endif

    if Mavg > MT then
    OTT = MT*(200+percent)/200
    else
    OTT = MT*(200-percent)/200
    endif

    pALL = OTT[2]
    ///////////OTT colors
    if highlight then
    if OTT[2]>OTT[3] then
    r=76
    g=175
    b=80
    else
    r=255
    g=82
    b=82
    endif
    else
    r=184
    g=0
    b=117
    endif
    //////////print signals
    buysignal = Mavg crosses over OTT[2]
    sellsignal = Mavg crosses under OTT[2]

    if buysignal and showsignalsk then
    drawarrowup(barindex,low-0.25*averagetruerange[10](close))coloured(“green”)
    elsif sellsignal and showsignalsk then
    drawarrowdown(barindex,high+0.25*averagetruerange[10](close))coloured(“red”)
    endif

    buySignalc = src crosses over OTT[2]
    sellSignallc = src crosses under OTT[2]

    if buySignalc and showsignalsc then
    drawtext(“▲”,barindex,low-0.25*averagetruerange[10](close))coloured(“green”)
    elsif sellSignallc and showsignalsc then
    drawtext(“▼”,barindex,high+0.25*averagetruerange[10](close))coloured(“red”)
    endif

    if Mavg > OTT then
    r1=0
    g1=250
    b1=0
    else
    r1=250
    g1=0
    b1=0
    endif

    mplot = (high+low+close+open)/4

    if highlighting then
    colorbetween(mplot,pALL,r1,g1,b1,40)
    endif

    return Mavg*showsupport as “Media” coloured(0,0,250)style(dottedline,2),pALL as “OTT”coloured(r,g,b)style(line,2)

  4. MaoRai54 • 61 days ago #

    Thanks, now it’s OK. in your first code at line 15-16 it’s missing.

  5. Madrosat • 61 days ago #

    Hello Ivan
    Did you try a strategy with this indicator

  6. Iván • 61 days ago #

    Hi. No I didn’t. This is a code translation requested by an user a few days ago.

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