NRTR Signal 3 AM Ind MT4
- Indicators
- Andriy Matviyevs'kyy
- Version: 4.0
- Updated: 1 November 2024
- Activations: 5
Brief description of the product:
The presented product is an original development based on the classic NRTR indicator.
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.
Best wishes,
Andriy Matviyevs'kyy