How does the ASC Trend NRP indicator work?

<p id="isPasted">The ASCTrend Non-Repainting Price (NRP) indicator is a technical analysis tool that generates buy and sell signals on price charts based on the prevailing market trend. It utilizes the Williams Percent Range (WPR) indicator to identify potential trend reversals and filter out false signals. The indicator displays its signals with colored bars and arrows, where blue typically indicates a bullish trend and red indicates a bearish trend.&nbsp;</p><p>Here's how it works:</p><p>1. Trend Identification:</p><p>The ASCTrend NRP indicator uses the WPR indicator to identify the direction of the trend.&nbsp;</p><p>It colors the price bars on the chart to reflect the trend: blue bars suggest an uptrend, and red bars suggest a downtrend.&nbsp;</p><p>2. Signal Generation:</p><p>Buy Signals:</p><p>When the price closes above the blue bars, it indicates a potential buy signal. In some versions, a blue arrow may also appear on the chart.&nbsp;</p><p>Sell Signals:</p><p>When the price closes below the red bars, it indicates a potential sell signal. Similarly, a red arrow may appear on the chart.&nbsp;</p><p>3. Filtering False Signals:</p><p>The indicator filters out repetitive signals to avoid overtrading and false signals.</p><p>It aims to minimize the impact of price gaps and erratic market movements.&nbsp;</p><p>4. Customization:</p><p>The indicator allows for adjustments to its settings, such as the "CountBars" parameter, which can be modified to display more historical signals.&nbsp;</p><p>Traders can also customize the colors and thickness of the indicator bars and lines.&nbsp;</p><p>5. General Applicability:</p><p>The ASCTrend NRP indicator is designed to work across different markets, including stocks, commodities, and currencies, and on various timeframes.&nbsp;</p><p>In essence, the ASCTrend NRP indicator simplifies trend identification and signal generation by visually representing the trend direction and potential entry/exit points with colored bars and arrows.&nbsp;</p>