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NRTR Signal 3 AM Ind MT4

50 USD

Demo downloaded: 8

Published: 24 September 2024

Current version: 3.50

NRTR Signal 3 AM Ind MT4

Indicators
Andriy Matviyevs'kyy
Version: 3.50
Updated: 1 October 2024
Activations: 5

Brief description of the product:

The presented product is an original development based on the classic NRTR indicator.

In 2001, Nikolay Kopyrkin described an indicator that he called NRTR (Nick Rypock Trailing Reverse).

The essence of the NRTR indicator is that its values are always at a constant distance from the achieved price extremes - under the chart on uptrends and above the chart on downtrends.

Small movements against the main trend are ignored.

Counter-trend movements that exceed a certain size (filter size) signal a change in trend direction.

In the presented version of the indicator, the filter size is determined based on the volatility of the financial instrument.

The consequence of this approach is adequate operation of the indicator in the zones of lateral price movement.

The presented product is an effective trend indicator.

Depending on the settings, it can be used for both short-term trading (scalping) and medium-term/long-term trading strategies.

The ease of use of the indicator makes it a good choice for both beginners and experienced traders.

Principles of use:

The indicator signals a trend change after the bar closes on which the closing price has exceeded the level formed by the indicator.

The signal is marked with an arrow of the corresponding direction and color.

Also, information about the signal, with a detailed description, can be sent to the trading terminal, mobile trading terminal, or the user's email.

It should be borne in mind that the signal must be confirmed by subsequent price movement.

That is, opening a new position based on the indicator signal should occur when the price exceeds the maximum (for buying) or minimum (for selling) of the bar on which the signal was given.

Thus, it is advisable to enter the market based on the signals of this indicator using pending orders.

Customizable parameters:

Period_ATR - the chart period for which the volatility of the financial instrument is taken to set the indicator filter;
Factor_ATR - the indicator sensitivity to the volatility of the financial instrument;
Number_of_bars_calculated - the number of bars on which the indicator will be calculated and displayed (> 300);
Alerts - displays a dialog box containing information about the indicator signal;
Send_Notification - sends a notification to mobile terminals whose MetaQuotes ID is specified in the settings window on the "Notifications" tab;
Send_Mail - sends an email to the address specified in the settings window on the "Mail" tab;
SAR_line_style - the style of the support / resistance lines;
Width_SAR_line - the thickness of the support / resistance lines;
Color_of_Support_line - the color of the support line;
Color_of_Resistense_line - the color of the resistance line;
Control_line_style - the style of the control lines;
Width_Control_line - the thickness of the control lines;
Color_of_Control_line_UP - the color of the control line "UP";
Color_of_Control_line_DN - the color of the control line "DN";
Distance_for_signal - the distance from the signal to the price chart (affects only the display of the signal point, does not affect the indicator parameters);
Width_Signal_point - signal point thickness;
Color_of_Signal_UP - "UP" signal point color;
Color_of_Signal_DN - "DN" signal point color.

Best wishes,

Andriy Matviyevs'kyy

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Version 3.50 2024.10.01

The indicator has been updated to version 3.5.
1. Fixed the error of incorrect display of the indicator on charts with very little historical data.

Version 3.0 2024.09.28

The indicator has been updated to version 3.0.
1. The description of the indicator parameters has been updated;
2. Checks for the correctness of the indicator parameters have been added.

Version 2.50 2024.09.28

The indicator has been updated to version 2.5.
1. The description of the indicator parameters has been updated;
2. The indicator display control (line color, line thickness) has been moved to the customizable parameters.

Version 2.0 2024.09.28

The indicator has been updated to version 2.0.
1. Added a limitation on the history depth for calculating the indicator (configurable by the user) to speed up the indicator when switching between instruments and time periods.

Version 1.50 2024.09.28

The indicator has been updated to version 1.5.
1. The description of the indicator lines has been corrected;
2. The ability to change the style of the indicator lines has been added.