ArcGIS Pro 2.9.5 and File Geodatabase
I'm tryng to run a Downstream trace from my subtnetwork controller and I received this error "No Valid Subnetwork Controllers found.", but, If a change my start point, I can run and see the results with sucessfuly.
My Subnetwork controller is a Eletric Device/Transformer.
From the Trace Locations / Starting Points list, does your starting point show the terminal you're starting from? If so, try flipping its value.
@MatheusSparapani specifically, if you're trying to run a downstream trace from the high side terminal of your transformer, and you've set up your subnetwork on the low side terminal of the transformer, it will return no results since there are no transmission controllers upstream of that point.