TTM Scalper Alert

• 01/23/2022 at 9:25 PM #186392
  jth82

  Would it be possible to code the TTM Scalper Alert indicator for PRT?

  Attached is a picture of how this looks on a chart. I don’t have the original code but below are a couple of links explaining how it works.

  Thanks in advance for anyone that can help 🙂

   

  https://tlc.thinkorswim.com/center/reference/Tech-Indicators/studies-library/T-U/TTM-ScalperAlert

  https://intercom.help/simpler-trading/en/articles/3291791-about-scalper-alert

   

  TTM Scalper Indicator – A Few Key Points:

  The TTM Scalper Indicator is a visual way to help determine whether to buy or sell against a pivot level.

  The TTM Scalper Indicator white Paint bar marks a “pivot high” or “pivot low.” This is done after 3 higher closes or 3 lower closes. The
  faster the time frame, the faster the confirmation.

  What is The Scalper?

  The Scalper indicator identifies probable highs and lows for a charted symbol. The link below shows how the scalper alert works. 

  The indicator determines pivot highs and lows by using a “trigger bar”. The trigger bar is the first bar that has a higher low (or lower high) than the previous bar.

  The next bar that closes above the high of the trigger bar (or low for down signals) paints the previous bar which now becomes the swing low (or high) bar and the beginning of a new swing.

  

  jth82

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  01/24/2022 at 1:57 AM #186412
  robertogozzi

  If you search this forum for TTM you may finf some links that may be of some help.

  

  robertogozzi

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  01/24/2022 at 2:05 PM #186448
  jth82

  Thanks Roberto

  I did try a search first but looking for TTM only shows threads about TTM Squeeze or TTM Waves, not anything similar to the TTM Scalper Alert I mentioned above.

  Scalper alert seems different to the other TTM indicators already discussed.

  

  jth82

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  01/24/2022 at 2:26 PM #186451
  GraHal

  What is  TTM an abbreviation for?

  

  GraHal

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  01/24/2022 at 3:57 PM #186465
  supertiti

  TTM scalper indicator

  //////////////////////////////////////////////////////////// // Copyright by HPotter v2.0 29/09/2014 // TTM scalper indicator of John Carter’s Scalper Buys and Sells. The methodology // is a close approximation of the one described in his book Mastering the Trade. // The book is highly recommended. Note the squares are not real-time but will // show up once the third bar has confirmed a reversal. //////////////////////////////////////////////////////////// study(title="TTM scalper indicator", overlay = true) width = input(2, minval=1) triggerSell = iff(iff(close[1] < close,1,0) and (close[2] < close[1] or close[3] <close[1]),1,0) triggerBuy = iff(iff(close[1] > close,1,0) and (close[2] > close[1] or close[3] > close[1]),1,0) buySellSwitch = iff(triggerSell, 1, iff(triggerBuy, 0, nz(buySellSwitch[1]))) SBS = iff(triggerSell and buySellSwitch[1] == false, high, iff(triggerBuy and buySellSwitch[1], low, nz(SBS[1]))) clr_s = iff(triggerSell and buySellSwitch[1] == false, 1, iff(triggerBuy and buySellSwitch[1], 0, nz(clr_s[1]))) clr = iff(clr_s == 0 , green , red) plot(SBS, color=clr, title="TTM", style = circles, linewidth = width)

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  //////////////////////////////////////////////////////////// //  Copyright by HPotter v2.0 29/09/2014 // TTM scalper indicator of John Carter’s Scalper Buys and Sells. The methodology // is a close approximation of the one described in his book Mastering the Trade. // The book is highly recommended. Note the squares are not real-time but will // show up once the third bar has confirmed a reversal. //////////////////////////////////////////////////////////// study(title="TTM scalper indicator", overlay = true) width = input(2, minval=1) triggerSell = iff(iff(close[1] < close,1,0) and (close[2] < close[1] or close[3] <close[1]),1,0) triggerBuy = iff(iff(close[1] > close,1,0) and (close[2] > close[1] or close[3] > close[1]),1,0) buySellSwitch = iff(triggerSell, 1, iff(triggerBuy, 0, nz(buySellSwitch[1]))) SBS = iff(triggerSell and buySellSwitch[1] == false, high, iff(triggerBuy and buySellSwitch[1], low, nz(SBS[1]))) clr_s = iff(triggerSell and buySellSwitch[1] == false, 1, iff(triggerBuy and buySellSwitch[1], 0, nz(clr_s[1]))) clr = iff(clr_s == 0 , green , red) plot(SBS, color=clr, title="TTM", style = circles, linewidth = width)

   

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  supertiti

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  01/24/2022 at 10:27 PM #186513
  jth82

  I’m not sure what TTM stands for, but there seem to be a few indicators that use this abbreviation and maybe are all related to the book that’s mentioned in the start of the code above?

  Thanks for posting some code for this, @supertiti. Is anyone able to convert this to PRT? Thanks in advance if someone with the skills has the time.

  

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  01/25/2022 at 9:03 PM #186622
  GraHal

  Only full term I saw when flitting around on google is … TTM = Trailing Twelve Months.

  

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