TMA CG NRP Indicator is a swing trading tool, used to examine the overbought/oversold status of the market and signal the trades accordingly. It applies a very basic concept of swing trading and demonstrates the signals in such a simpler way so that traders with any level of experience can master it.
The indicator suits all sorts of timeframe charts thus supports both scalping and day trading. Furthermore, it works on all kinds of forex currency pairs and other financial instruments around the market.
TMA CG NRP Indicator Overview
Install the indicator at your MT4 platform. Once you’re done, find your chart like the image below:
TMA CG NRP Indicator Explanation
TMA CG NRP Indicator works in the same manner as Bollinger Bands. Its upper band represents the overbought area and the lower band as the oversold area.
Whenever price hits near these levels, it intends to swing around and treat such areas as dynamic support and resistance.
For better understanding, it plots colored stars around the price bars promoting buy/sell signals.
TMA CG NRP levels also help traders to define the trailing stops against their market entries.
Also Try: FXOpen Forex Broker
TMA CG: Buy Parameters
- Price hits the lower band of the TMA CG NRP level
- A red star is plotted below the price candle
- Buy triggers when both conditions are met at the same time
- Set stop loss below the lower band area
- Exit long/take profit whenever price hits the upper band area with blue stars at the top
TMA CG: Sell Parameters
- Price hits the upper band of the TMA CG NRP level
- A blue star is plotted above the price candle
- Sell triggers when both conditions are met at the same time
- Set stop loss above the upper area band
- Exit short/take profit whenever price hits the lower band area with red stars at the bottom
