NRTR Indicator is a trailing support/resistance indicator. It identifies the trailing stop areas of a market trend and also detects potential trend-reversals. This indicator helps traders to find possible swing or pullback areas of market trends for making retracement entries. Besides, these levels also guide traders through the trailing stop levels of opened trade positions.
NRTR Indicator can be applied to trade all kinds of forex currency pairs available in the financial markets. In addition, this S/R tool suits all sorts of timeframe charts within the forex MT4 trading platforms.
NRTR Indicator Overview
Download the indicator and install it on your MT4 terminal. Once you’re done, find your chart like the image below:
NRTR Indicator Explanation
NRTR Indicator uses a 10-day average system to find the base of the market momentums. It plots red and blue dotted levels to signify the key areas of the market. It has been observed that the market often uses these areas as temporary support and resistance levels. These levels also help you to follow the popular high-low method for determining the market trends more correctly.
Whenever the market starts to coil within a short-range, the indicator levels clearly shows you the high and low of the current market range so that you can aim for possible breakout trading opportunities. This indicator can also be added to any trend-following trading strategies for enhancing the trading performance.
NRTR Indicator: Buy Conditions
- Price is supported by blue NRTR levels
- A bullish candle is formed at the same time
- Buy triggers after the above conditions are done
- Set stop loss below the current NRTR level
- Exit long or take profit whenever a red NRTR level appears above the price candles
Also Read: Deals and Discount
NRTR Indicator: Sell Conditions
- Price is resisted by red NRTR levels
- A bearish candle is formed at the same time
- Sell triggers after the above conditions are done
- Set stop loss above the current NRTR level
- Exit short or take profit whenever a blue NRTR level appears below the price candles