Watch the testing video here:
No Repaint Indicator
The No Repaint Indicator is, as the name suggests, forex no repaint indicator. It means that it doesn’t change the provided trading signals. Thus, this is a huge advantage for many traders, as they can rely on solid and accurate indicator that can be easily backtested. Speaking about trading signals – that forex no repaint indicator displays buy/sell arrows.
The No Repaint Indicator fits all kinds of timeframes and currency pairs. It is displayed directly on the main trading chart. The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
How does it work? How to apply in trading?
Trading Rules Explanation
The No Repaint Indicator provides buy/sell arrows as trading signals. At the first glance, it may look that there are too many arrows displayed. This is partially true, but suggest adding a filter in the form of, for example, the 50-period Exponential Moving Average. That way we only trade in the direction of the main trend and provided signals are much less noisy.
Follow these steps for a long trade:
- Price is located above the moving average
- No Repaint indicator provides buy arrow
- 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 No Repaint indicator provides opposite arrow or use your own method of trade exit
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