Library "pNRTR"
Provides functions for calculating Nick Rypock Trailing Reverse (NRTR) trend values with higher precision offsets for both low, and high points rather than the standard single offset.
pnrtr(float low_offset = 0.2, float high_offset = 0.2, float value = close)
low_offset
Offset used for nrtr low_point calculations. Default is 0.2.
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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...
