Nick Rypock Trailing Reverse (NRTR)

24 de jan. de 2021

This indicator was invented in 2001 by Konstantin Kopyrkin. The name "Nick Rypock" is derived from his surname reading in the opposite direction:

Kopyrkin -> Kopyr Kin -> Kin Kopyr -> Nik Rypok

The idea of the indicator is similar to the Chandelier Exit, but doesn't involve ATR component and uses a percentage instead.

A dynamic price channel is used to calculate the NRTR. The calculations involve only those prices that are included in the current trend and exclude the extremes related to the previous trend. The indicator is always at the same distance (in percent) from the extremes reached by prices (below the maximum peak for the current uptrend, above the minimum bottom for the current downtrend).

28 de jul.

Notas de Lançamento

• Pine Script V6
  
• Minor UI improvements
  
• Refactoring
  

If you need any customization, feel free to contact me via direct messages or on Telegram.
Good luck!