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The Blog: www.flyfishfood...: A slip strike indicator allows you to set and easily change the depth at which you fish your flies from your indicator. It also allows for a quick-release "slip" wherein the indicator will slide free and allow you to reel in as much line as you need to without getting stopped by the indicator at your rod tip. Great for stillwater or deeper nymphing as well as just regular nymphing. Nicknamed the "Bongo" method of fishing.