Balance of Market Power NRP Alerts Indicator
The Balance of Market Power NRP Alerts indicator is an ideal trending tool showing whether buyers or sellers are in control. It is suitable for detecting price reversal.
Description
It is all in the name. The Balance of Market Power NRP Alerts is an indicator designed to measure the strong market faction between buyers and sellers. It assesses the strength of the bears and bulls to push each other using net retail prices. While the indicator looks like the RSI, it is not rage bound. This means it is sensitive at any part of the indicator window at the bottom of the price action. The values are smoothed using simple moving averages, while the bands use Jurik deviation rather than the usual standard deviation.
How to Trade Using the Balance of Market Power Nrp Alerts Indicator
The indicator alerts you when the balance of power shifts between buyers and sellers. Using the indicators is relatively easy. You only want to identify the color and the direction of the indicator.
- Buy when the indicator changes color to deep sky blue and moves upwards.
- Enter a short position when the indicator moves downward and changes color to pale violet red.
Conclusion
The balance of power NRP alerts indicator is designed to give you an easy time determining whether the bulls or bears are in control. You simply trade with the direction of the market.
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