NRTR Rosh V2 Indicator is a simple support and resistance indicator that is able to detect potential swing highs and lows of the market. It can be applied for both trend-following and swing trading purposes. This indicator follows a pretty simple process of demonstrating the key areas of the market so that traders with any level of experience can be benefited from it.
NRTR Rosh V2 is a versatile indicator that allows you to trade all kinds of forex currency pairs in the market. Moreover, this simple but effective trading assistant suits all sorts of timeframe charts within the forex MT4 trading platform.
NRTR Rosh V2 Indicator Overview
Download NRTR Rosh V2 and install it on your MT4 terminal. Once you’re done, your chart will appear like the following image
NRTR Rosh V2 Indicator Explanation
NRTR Rosh V2 applies Per ATR 40 along with the k-ATR 2.0 version in order to plot possible swing areas of the market. The levels are demonstrated by dotted lines around the price candle at the main chart window. It has been observed that price often uses these levels as support or resistance and transforms them into potential swing areas of the market.
It also helps you to follow the high-low method for determining the market trends. Furthermore, it outlines the high and low of a market range so that you can aim for possible breakout entries.
Whenever the market is in a trend, it plots a series of support/resistance levels within the trend direction and helps you to determine the trailing stop level of your market entry.
NRTR Rosh V2: Buy Conditions
- Price is supported by the NRTR Rosh levels
- A bullish candle is plotted right above the current support level
- Buy triggers at the break of the respective bullish candle’s high
- Set stop loss below the current support level
- Exit long/take profit whenever the resistance levels appear above the price candles
Also Read: CAP Channel Trading Indicator MT4
NRTR Rosh V2: Sell Conditions
- Price is resisted by the NRTR Rosh levels
- A bearish candle is plotted right below the current resistance level
- Sell triggers at the break of the respective bearish candle’s low
- Set stop loss above the current resistance level
- Exit short/take profit whenever the support levels appear below the price candles