When it comes to trading indicators, many authors typically focus on current trend support lines. However, in my latest work with the NRTR indicator, I decided to incorporate resistance lines during the debugging process. The result? A unique 'staircase' effect that adds some thickness to the lines. I like to refer to this thickness as 'brick' in my other versions, and trust me, it can be quite handy when calculating your stop size in points.
The beauty of the NRTR indicator lies in its versatility. There are countless applications and ways to tweak it to fit your trading style. The version I'm sharing with you today is what I consider to be the foundational model. It's worth noting that earlier versions, particularly those used in MT3 and later adapted for MT4, had a pesky error that caused the indicator to redraw on historical data. Thankfully, this current iteration is free from that issue.
One of the standout features of this indicator is its block structure and the transparency of its algorithm. Plus, with just the right amount of documentation, you’ll find it easy to modify the NRTR to suit your personal trading needs.
Comments 0