With a demonstration procedure similar to the moving average, the Trend Lord NRP Indicator is a pioneer in trend tracking technical instruments. It employs a 12-day smoothed moving average of closing price data over a period of time. This is a trading solution for scalping and intraday trading that is used by both experienced and inexperienced traders. Aside from the currency market, you may utilize the Trend Lord NRP indicator in other financial markets.
What is the Trend Lord NRP Indicator?
Trend Lord NRP Indicator was created specifically for beginner traders to provide them with a basic trend-following forex trading solution. This indicator’s entire signal demonstration method is turned into basic moving average trading. As a result, anyone, from beginners to seasoned traders, may grasp this forex trading system. The Trend Lord NRP Indicator can be used to trade any forex currency pair that is posted on the financial markets. Furthermore, it is appropriate for both scalping and intraday trading. The indicator responds to price movements fast and with less lag than traditional moving averages. A bullish trend happens when the price closes above the blue indicator bars, while a bearish trend occurs when the price closes below the red indication bars.
Trend Lord NRP Strategy
In order to produce the signal bars, the Trend Lord NRP Indicator uses a 12-day Smoothed Moving Average generated based on the close price over the given period of price data. This indicator functions similarly to Simple Moving Averages. The sole distinction is that it lags less than MAs and reacts to price fluctuations much faster. When the price closes above the blue indicator bars, it indicates that the trend is bullish. The price closing below the red bars of the indicator, on the other hand, reflects the market’s negative tendency. Trend Lord NRP levels can also be employed as dynamic trailing stops for open positions in the market.
Buy Signal
The following could be your checklist for a buy trade:
- When the signal bars turn blue in color.
- When price closes above the indicator level.
Once these events occur:
- You could open a buy position after you confirm your entry with bullish candlestick patterns.
- You could set your stop loss just below the nearest swing low.
- You could set your take profit at the nearest resistance zone, or you could exit trade when the signal bars turn red in color.
- For good risk management, I would only consider trades with a risk to reward ratio of at least 1:2.
Sell Signal
The following could be your checklist for a sell trade:
- When the signal bars turn red in color.
- When price closes below the indicator level.
Once these events occur:
- You could open a sell position after you confirm your entry with bearish candlestick patterns.
- You could set your stop loss just above the nearest swing high.
- You could set your take profit at the nearest support zone, or you could exit trade when the signal bars turn blue in color.
- For good risk management, I would only consider trades with a risk to reward ratio of at least 1:2.
Trend Lord NRP Pros & Cons
Pros
- Trend Lord NRP Indicator can be used with any forex trading system for further confirmation of trading entries or exits during day trading and swing trading.
- The indicator responds to price movements fast and with less lag than traditional moving averages.
Cons
- The Trend Lord NRP Indicator may not meet the trader’s expectations in a consolidating market.
- This indicator may require additional knowledge of technical analysis for optimal use.
Conclusion
This is a trend-following indicator. It’s also straightforward, though you have to look at the color of the indicator bars. When the bar is red, it indicates that the trend is bearish, whereas the blue bar indicates that the trend is bullish. This indicator can function alone, but it is better combined with price action and other technical indicators. It does not guarantee profits.
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