Tuesday, December 5, 2023

NRTR Color Line

This Nick Rypock concept or idea was created by Konstantin Kopyrkin in 2001. The indicator draws reversal entry signals directly on the chart. Similar to a super trend indicator the lines are changing from support to resistance and back again. The change in direction can be used as information of the direction of the trend and to make entry as well as exit decisions.

 The indicator draws a colored line segment that tells us about the buying and selling momentum. The blue segment line below the candlestick tells us the price trending higher. On the contrary, a segment of red lines above the candle tells us the market is in a strong downtrend.

But these line segments are dynamic. This means a sudden shift in the market momentum can result in a significant change in the colored line segments drawn by the NRTR color line. Unless you are well aware of the news factor, you might experience a massive change in the colored lines in the lower time frame.

So, a trader should try to execute the trade in a higher time frame at the initial stage as it can significantly improve the win rate. Most importantly, you won’t have to focus on the key news event.

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