PRT Bands – the ProRealTime trend following indicator

Nicolas · Mon, 17 Aug 2020 08:17:47 +0000

ProRealTime now includes the PRT Bands indicator in its arsenal of technical indicators. What is PRT Bands and how to use it? PRT Bands is a visual indicator which simplifies detecting and following increasing market trends. This indicator is only available from ProRealTime. PRT Bands may help you to: identify trend reversals identify and follow rising trends mesure the intensity of a trend find potential entry and exit points This indicator was designed for use with stocks that may have high bullish potential such as small and medium caps or technological stocks. It is used primarily with long chart timeframes (ex: daily or weekly). Detect the beginning of a trend When the price breaks out of the top line of a bearish channel of the indicator, the beginning of a potential bullish trend is detected. The possible change of the trend from a downward trend to an upward trend is indicated by the change of color of the trend lines from red to green. View current upward trends When the price is inside a green channel, the trend of the security is upwards. An upwards trend is caracterized by its capacity to regularly make new highs. Statistically, the trend tends to continue. If you do not have a position, it may be an opportunity for you to enter this trend by identifying the entry point the most adapted to your own strategy and investment objectives and to try to benefit from its future progression. Don’t catch a “falling knife” We have a tendancy to see a security whose price has “fallen enough” and to try to find a support which could hold in order to buy at a low price and hope to sell again at a higher price. But we also have a tendancy to forget that in the absence of a strong bullish signal, a downward trend can continue for a long time. With the indicator PRT Bands, as long as the price stays within a downward band, we could interpret that a trend reversal has not necessarily happened and opening a buying position could be dangerous. Find an entry point with the short-term line The indicator displays a short term trend line which stays close to the price movements and allows you to better filter price fluctuations. During increasing trend phases, stocks sometimes experience movements of price consolidation. This case will be represented by an increasing channel (underlying trend), but with a decreasing short term line. When this short term line is increasing again, it could be possible to look for a point to enter the underlying increasing trend. Follow the mid-term trend In the middle of a channel, a bold line is displayed. This line represents the mid-term trend. When the short term line which closesly follows the price crosses under the mid-term line, it can indicate a weakening of the trend. This can be an opportunity to reduce the size of a position or possibly close it. Also, when the short term line crosses over the mid term line, it is possible to look for a point to enter the trend. Quickly measure the progression of the trend In order to avoid using a different tool to measure the progress of the trend, it is regularly displayed, as the trend progresses. This is also a feature which has a psychological impact and can encourage you to hold a winning position while the trend continues to be good. Quickly evaluate the speed of the trend The indicator also displays a set of 5 lines showing the speed of the trend. These lines serve as a reference. In this way, a trend which follows or crosses over the first line would be considered very fast, and a trend which is underneath the 5 line would be considered very slow. Some investors may prefer to enter the market in a faster trend. Weakening of the trend The indicator indicates by blue circles zones of potential weakining of the trend. These blue circles can be used as elements of your consideration if your money management strategy includes taking partial profits. Consider leaving the trend when it is giving the impression of weakening further Did you benefit from a nice rising trend for several weeks or months or years? The next step is to figure out when to leave the trend. The bullish trend when it weakens can leave space for a bearish trend. The possible change of trend from increasing to decreasing can occur when the price closes on the bottom of a channel. This change is represented by a change of color of the trend lines from green to red.

This topic has 35 replies, 15 voices, and was last updated 8 months ago by Nicolas.

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10/08/2020 at 1:14 PM #146742

Malend

Thanks a lot PRT and Nicolas,
Great indicator and I am plalying around with it in combination with confirmation indicators.

The thing I like to know is how to describe the Mid Term Line to program in other indicators. I tried PRTBandsMidTerm, but that doesn’t seem to work :-(.

Thanks again, Marc

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10/08/2020 at 1:17 PM #146744

Nicolas

The instruction you are looking for is: PRTBandsMediumTerm

Whenever you don’t find or can’t remember an instruction, use our online documentation! 😉

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Malend

Nicolas
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10/08/2020 at 1:19 PM #146745

Malend

Oh yes Nicolas … thanks for reminding and….THANKS for the code

Malend
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11/04/2020 at 11:30 AM #149444

Kovit

Hello would it be possible to reduce the length of the black horizontal line for each numbered increment showing on smaller timeframes, I’m finding on the smaller time frames when there is a steep rise in prices the numbered one only finishes forming on the graph when it’s half way up the trend ? Thank you.

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11/04/2020 at 11:32 AM #149446

Nicolas

Sorry but there is no way to reduce the length of those black lines 🙁

Nicolas
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11/04/2020 at 11:34 AM #149447

Nicolas

FYI, there is a more complete list of examples in the french topic about PRT Bands: https://www.prorealcode.com/topic/prt-bands-trend-following-prorealtime/#post-139864

Nicolas
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11/04/2020 at 6:03 PM #149482

Kovit

Apologies I realise now that the numbers are being filled in retrospectively rather than them being an indication of an early signal.

Kovit
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01/20/2021 at 4:41 PM #158699

xburrex

How is the blue circles created in this indicator for showing weakening the trend?
I want to build a strategie where does are involved.

Can someone help me with that it would be great!

Thanks

xburrex
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01/20/2021 at 4:50 PM #158703

Nicolas

this information is not accessible through PRTBands instructions sorry. I have asked to add it, but waiting for it to be added, I don’t know when it will be available.

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xburrex

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01/25/2021 at 6:58 AM #159315

Nobody

The source code would be awesome if possible , looks interesting .

Nobody
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02/12/2021 at 10:39 AM #161162

sfigatto

Hello, is it possible to have a screener that identifies the reversal trend on a daily chart with PRT bands indicator? (ie when the color change occurs, as indicated in the screenshot) Thanks and good job PS unfortunately I could not find the Italian forum dedicated to PRT bands, I apologize for having to, insert in what looks like English. Auro

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02/12/2021 at 10:44 AM #161165

Nicolas

The screener you are looking for is this one: https://www.prorealcode.com/topic/prt-bands-the-prorealtime-trend-following-indicator/#post-141822

There are many more screeners also available in the french topic about PRT Bands, here: PRT Bands – l’indicateur de trend following de ProRealTime

Please speak English in an english topic! I translated your message.

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02/19/2021 at 7:03 PM #162040

ed65

hi nicholas

how do i insert the additional code suggestions above into the prt bands there is no modify tab , i can not see where to insert the code am on ig

thanks

eddie

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02/22/2021 at 8:47 AM #162295

Nicolas

These are new indicators / screeners. Open the indicators or the screeners editor, create a new one and copy/paste the codes in that window.

Nicolas
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05/28/2021 at 8:55 AM #170665

murre87

Have anyone found a timeframe and market that fots for PRTbands?

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PRT Bands – the ProRealTime trend following indicator

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