NRTR is a simple indicator that draws lines and dots on the chart to show the direction of the trend. nick Rypock Trailing Inverse is an abbreviation of NRTR. The indicator got its name due to the last name of its creator. Surprisingly NRTR is still in existence since 2001.
NRTR was created to detect potential reversals. The indicator can now detect entry points and reversals. The indicator plots five 10-period lines that act as support or resistance. These lines are named R1, R2, R3, R3, P1 or S1.
If there is a downtrend, the indicator plots more resistance lines. If there is an uptrend, the indicator draws a support line. The neutral P1 line acts as a support line and traders should wait for the price to move in the opposite direction. You can also download the indicator for free from our website.
The dots are an additional confirmation signal. The red dots indicate a downtrend, while the blue dots indicate an uptrend. NRTR indicator is best used in all time frames. The indicator works best when used for a long period of time.
NRTR Indicator Buy/Sell Signals
In order to identify buy or sell signals, in addition to the red and blue dots, traders need to identify support and resistance lines.
In order to enter a long position, the indicator must meet two conditions.
The price should not exceed S1 or be close to it.
The blue dot should be visible.
Once these conditions are met, the trader can enter a long position or exit it quickly.
The NRTR indicator should include the following conditions to enter a short position.
The price should not exceed R3 or be close to it.
These red dots should appear.
Traders can meet both conditions, allowing them to enter or exit short positions. Sometimes, the indicator will plot red or blue dots between the R1 and P1 lines. Traders must wait for price behavior to change in one direction before entering a trade.
Sometimes, the price may stay between R1 and P1 for a longer period of time. To enter or exit a position, the trader must wait for the point to appear. Although the NRTR indicator works well by itself, traders can also use other indicators such as RSI and MACD.
To determine the direction of a trend, the NRTR indicator plots support and resistance lines along with dots. An indicator can help traders pinpoint their entry and exit points.