The indicator shows the rate of change of simple moving average.
The direction of the indicator is the same with direction of daily bars. The local extremums of the indicator corresponds to the reverse points of the local trend.
The indicator is advancing, it shows the rate of the price change and proposed price reverse.
The value of the indicator is calculated as ratio of the current price to the value of the simple moving average of the price (n-days averaged) minus 1:
Suggestions: Daily, Period=5, applied price= (H+L)/2.
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/146
An Expert Advisor for trading during the night.NRTR
The NRTR (Nick Rypock Trailing Reverse) indicator draws the base line (support and resistance) and a target line.