NRTR is a trend indicator calculated using the CLOSE prices. The indicator is always located at the same distance from the reached extreme price. For an uptrend, it is displayed below the chart; for the downtrend — above. The meaning of this distance is to filter small corrective movements counter to the main trend. A stronger movement counter to the main trend above the preset level (the size of the moving filter) signals the complete trend reversal.
For an uptrend:
NRTR = Highest(Close, period)*(1-(K/100)),
For a downtrend:
NRTR = Lowest(Close, period)*(1+(K/100)),
where the first part of the expression is the highest/lowest extreme price reached since the last intersection of the indicator and the prices, K is the size of the moving filter in percentage terms, i.e. the distance between the indicator and reached extreme values.
Like any other simplified approach, this indicator works well in trending market, but may fail in non-trend periods.
Read more about the properties and versions of the indicator in the article “Trend indicator of dynamic price channel breakthrough” by Konstantin Kopyrkin (in Russian).
This indicator was first implemented in MQL4 and published in CodeBase at mql4.com on 13.07.2006.
MT5 Indicator – Download Instructions
NRTR Metatrader 5 Indicator is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
NRTR Metatrader 5 Indicator provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install NRTR Metatrader 5 Indicator.mq5?
- Download NRTR Metatrader 5 Indicator.mq5
- Copy NRTR Metatrader 5 Indicator.mq5 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on NRTR Metatrader 5 Indicator.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator NRTR Metatrader 5 Indicator.mq5 is available on your Chart
How to remove NRTR Metatrader 5 Indicator.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Click here below to download MT5 Indicator:
NRTR Metatrader 5 Indicator