Kwan NRP Indicator
Platform: MT4 Type: Oscillator Last update: September 28, 2024The Kwan NRP Indicator is a custom forex oscillator. It is a non repaint indicator. It consists of one main signal line that takes blue color when trend-momentum is bullish, and red when it is considered bearish.
How to trade with kwan nrp?
The Kwan NRP Indicator should be rather treated as a supplement to a forex strategy than a standalone trading tool. In this example, we added a 100-period Exponential Moving Average to determine the overall trend direction. Detailed instructions are provided below.
Buy Signal
Follow these steps for a long trade:
- Price floats above the moving average
- Kwan Indicator signal line turns blue in the lower end of the scale
- Price swings higher from recent low swing
- Buy trade is triggered after the above conditions are met
- Set stop loss a few pips below the last swing low of the market
- Take profit or exit whenever the Kwan NRP indicator provides opposite signal or use your own method of trade exit
Sell Signal
Follow these steps for a short trade:
- Price flows below the moving average
- Kwan Indicator signal line turns red in the higher end of the scale
- Price swings lower from recent high swing
- Sell trade is triggered after the above conditions are met
- Set stop loss a few pips above the last swing high of the market
- Take profit or exit whenever the Kwan NRP indicator provides opposite signal or use your own method of trade exit
