NRTR_extr - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
NRTR indicator based on highs and lows. The indicator is always located at the same distance from the extreme prices reached. For an uptrend, it is shown below the chart; for a downtrend - above. The significance of this distance is to filter out small corrections that are contrary to the main trend. Stronger movement against the main trend above a preset level (the size of the moving filter) indicates a complete trend reversal.
Like any other simplified method, this indicator works well in trending markets but may fail during non-trending periods.
Figure 1. NRTR_extr
Attachment download
📎 nrtr_extr.mq5 (9.74 KB)
Source: MQL5 #15244
NRTR_extr - MetaTrader 5 script | Forex indicator download - MT4/MT5 resource usage and screening suggestions
NRTR_extr - MetaTrader 5 script | Foreign exchange indicator download - MT4/MT5 resources are foreign exchange indicator related resources. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based only on titles or short-term profit descriptions.
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