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The TTW-Trend Analyzer is a technical analysis tool used by traders to identify the direction of a market’s trend and provide potential entry and exit points for trades. It is particularly useful for understanding the trend in various timeframes and for different trading styles, such as day trading, swing trading, and position trading.
The TTW-Trend Analyzer indicator calculates the average price based on a specific number of past candlesticks, applying a multiplier to the average true range to create a volatility-adjusted moving average.
In summary, the TTW-Trend Analyzer add-on for Bookmap helps traders identify the prevailing market trend and potential entry and exit points by considering the average price, volatility, and trend switch conditions. Adjusting the candle interval, the number of candles, and the multiplier allows traders to customize the indicator to suit their trading style and risk tolerance.
TTW-Trend Analyzer is designed and built for Bookmap Version 7.3 and higher.
It works for all instruments and data feeds.
TTW-Trend Analyzer is available on Bookmap MarketPlace as a lifetime license and monthly subscription. Future updates are included and free of charge.
Download the latest version of the TTW-Trend Analyzer from
Unzip the file and save the *.JAR file into a Bookmap subfolder.
Open Bookmap and open the “Configure add-ons” window. Click on
and select the unzipped ….. Jar file.
Select the
the TTW-Trend Analyzer add-on.
Updates are easy:
Download the latest add-on version. Please copy and paste it into your created folder and save the jar file. Overwrite the TTW-Trend Analyzer.
Bookmap must be closed for that procedure. Otherwise, the add-on can’t be overwritten.
The general settings are divided into four sections:
TTW-Trend Analyzer needs historical data loaded to calculate Trend signals correctly and to display on Bookmap Chart. Please mind the Warning message that shows how much data is needed in order to have a correct calculation of trends for your instrument. The amount of time will vary depending on the settings you use.
The function essentially simulates how the TTW-Trend Analyzer indicator would have behaved in the past, given the current settings (Candle Interval, Number of Candles, Multiplier, and Trend switch condition).
By simulating the TTW-Trend Analyzer indicator’s performance on historical data, traders can gain insight into the effectiveness of their chosen settings in capturing major price trends and avoiding false signals. This can help them fine-tune the parameters of the TTW-Trend Analyzer indicator to optimize it for their specific trading style, market conditions, and risk tolerance.
It is important to note that past performance does not guarantee future results. A Trend Simulation function can be a useful tool for optimizing the TTW-Trend Analyzer indicator settings, but traders should always be cautious when relying on historical data to predict future market movements. Market conditions can change, and the indicator’s performance may differ from its historical simulations.
In a Trend Simulation, the software typically calculates the TTW-Trend Analyzer indicator’s values for the specified settings and overlays the results on the historical price chart. This allows the trader to visually assess the quality of the signals generated by the indicator and make adjustments to the settings as needed.
The simulation will automatically start when the parameters are changed.
The current setting (blue diamond) and other findings (orange dots) are placed within a matrix of profit (y-axis) and the number of trend changes within the Backtest duration set (x-axis).
In the example above, the blue square resulted in 67 trend changes and gave a profit of 40 ticks. The higher the squares are, the more profitable the Trend settings are.
The respective trend settings become visible in a pop-up window by hovering with the mouse cursor over the blue or orange symbols.
The pop-up window information is self-explained.
Line settings allow the customization of individual colors, thicknesses, and line styles.
The customization of colors, different symbols and different sizes.
The symbol for a trend change allows besides individual color settings, adjustment for
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The TTW-Trend Analyzer is available on Bookmap Marketplace
Updates are available
Functional description added 16. March 2023.