Pink Salt (aka. Prague powder no.1, TCM, etc) contains 6.25% nitrite. Mortons TQ contains 0.5% nitrite and 0.5% nitrate.
They serve similar functions, but nitrAtres don't actually do the curing. NitrIte breaks down pretty quickly as it cures. Nitrate slowly breaks down into nitrite over time, providing a constant supply of nitrite for long cures. Thus, only curing salts containing both are used for long-term dry curing, etc.
As you can see from the percentages above, they have VERY different levels of nitrite, so be careful to use the recommended amounts per lb of meat. That said, either will work. I made my first few slabs of bacon recently using this
recipe from thirdeye's blog using Morton TQ. It turned out great! I'd recommend using that as a good place to start. From there you can play around with different seasonings as long as you keep the proper amount of cure per lb of meat constant.
Home made bacon is really good! Have fun!