NRTR Indicator
The NRTR indicator for MT5 is a financial trend reversal trading tool suitable for identifying the end of a price retracement/possible trend direction.
Description
Nick Rypok’s Trailing Reverse, known as the NRTR indicator for MetaTrader 5 (MT5), is a technical trading tool for detecting the potential end of retracement zones. This means that the indicator is suitable for an established trend to find optimal zones to enter the market after a minor recovery.
Thus, the indicator draws a red or blue dot whenever it detects a potential completion of a bearish/bullish retracement.
In addition, the identified zones (red/blue dot) also double the dynamic support/resistance levels for price reversal.
How to Use The NRTR Indicator for MT5
The attached image shows the reversal zones identified by the NRTR indicator. Blue dots indicate the potential end of a bearish recovery and the beginning of a possible bullish move.
On the other hand, red dots suggest the potential completion of a bullish recovery and the possible start of a bearish move.
Therefore, for example, in a bullish trend, you can open a buy order after the indicator draws blue dots, which signals a possible bullish continuation. However, it is always better to open a buy or sell order after the price breaks the recent high/low, as shown in the image above.
In addition, you can close your open position after the NRTR indicator gives an opposite signal. So, for example, if you hold a buy position, you can close it when the red dot appears. Alternatively, you can stick to a fixed 1:2 risk/reward ratio.
Conclusion
The NRTR indicator for MT5 is an incredible technical indicator for identifying the end/beginning of price pullbacks in the financial market.