The NIP Point indicator identifies possible price reversal points. It does so by analyzing price action movement as well as candles behavior.
The indicator can be used both as an entry point for trend-following strategies as well as for mean reversal strategies.
The indicator provides an option of filtering out some trades by using a Trend Filter. If you intend to use this indicator in quiet markets like during the night, it is recommended to leave the indicator without the filter (Trend Filter = false). Otherwise, it is advisable to filter mean reversal entries during trending periods by setting the Trend Filter option to true.
- Trend Filter: Either or not to use a trend filter to generate signals. Default: true;
- Fast MA Period: in case "Trend Filter" option is set to true, the period of the Fast Moving Average. Default: 12;
- Slow MA Period: in case "Trend Filter" option is set to true, the period of the Slow Moving Average. Default: 26;