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Originally Posted by Duke Nukem
I know the logic of Ablesys ASCtrend-1 bars colouring. It's simple. Thera are 2 ways of the same idea:
1. Red bar when Williams' %R oscillator (which domain is [0, -100]) goes below -67% and blue bar when it goes over -33%.
2. 9-period channel (but i don't know which flavour of averaging was used originally) is built using highs for upper boundary and lows for lower. Red bar when close is below 1/3 of channel and blue bar when close is above 2/3 of channel.
As well I know that all that coloured dots in ASCtrend are displayed acording to something called NRTR, which I don't know what it is.
But I don't know and would like to ask if anybody knows
1. What is NRTR, what is logic (in human words or easylanguage, i don't know MQL/MQL4) of its calculation.
2. What is logic of BrainTrend price colouring behind the scene (please tell in the same manner as I've described ASCTrend, if you can).
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As I know this software is good for trading on D1 timeframe and they are using some filter: we may have two chart window, one for trading signals and an other one for the filter. And if we see in the filter's window uptrend it means that our signal (if any) is clear (sell or buy signal - does not matter) and we may open the order. It is very good filter and it filters everything so we will have confirmed signals 3 or 4 times per months on 4 main pairs almost without losses.
And it is really very interesting why the people who programmed BT system or ASCTrend system could not program the same filter's chart (or indicator). But as I know about NRTR:
it is Nick Rypock Trailing Reverse. It was trading system (not for MetaTrader) which was popular in 2001 (see image). As I know this system is nothing with the eASCTrend software filter.