BBP Oscillator V1 + Multiple Time FrameBull Bear Power + HTF/LTF Filter (BBP+)
Overview:
BBP+ is a minimalist Bull Bear Power histogram designed to help traders identify potential bearish signals while filtering them with current and higher timeframe trends. An optional lower timeframe (LTF) filter can further reduce false signals, without displaying extra markers on the chart.
Inputs:
BBP Length: EMA length for BBP calculation (smaller → more sensitive, larger → smoother).
EMA Trend (Current TF): Current timeframe trend filter (signals only when bearish).
HTF Timeframe & EMA: Higher timeframe trend filter (optional).
Enable HTF Filter: Toggle HTF trend filter.
LTF Timeframe & Enable LTF Filter: Optional filter to reduce false signals; no visual output.
Show Signals: Toggle to show/hide main bearish signals.
Signal Logic:
Main bearish signals appear when:
Current trend is bearish
BBP momentum is decreasing
Optional HTF trend filter passes
Optional LTF momentum filter passes
Important Notes
Indicator is not a guaranteed profit tool; use for analysis only.
Past performance does not indicate future results.
LTF filter does not appear visually, only helps filter main signals.
Adjust BBP Length, EMA Trend, and HTF/LTF settings according to market volatility and timeframe.
