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NRTR Signal 3 AM Ind MT4

50 USD

Demo downloaded: 4

Published: 24 September 2024

Current version: 1.0

NRTR Signal 3 AM Ind MT4

Indicators
Andriy Matviyevs'kyy
Version: 1.0
Activations: 5

The presented product is an effective trend indicator which, depending on the settings, can be used for both short-term trading (scalping) and medium/long-term trading strategies.

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

The essence of the NRTR (Nick Rypock Trailing Reverse) indicator is that it is always located at a constant distance from the reached price extremes - below the chart on uptrends and above the chart on downtrends. The following idea was pursued here: small corrective movements against the main trend should be ignored, and movements against the main trend exceeding a certain level (the size of the moving filter) signal a change in the direction of the trend.

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 the normal operation of the indicator in areas of lateral price movement.

After the bar closes, where the closing price has broken the level formed by the indicator, the indicator signals a trend change. 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 breaks 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:

PerATR - chart period for which the volatility of a financial instrument is taken to set the indicator filter;
kATR - sensitivity of the indicator to the volatility of the financial instrument;
Distance - distance from the signal to the price chart (affects only the display of the arrow, does not affect the indicator parameters);
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;

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