NON Repaint Alert Arrows indicator
For autotrading systems like MT2 or manuals referring to Metatrader.
The non-repaint indicator that we offer was created by forzaforex.it for the need for automatic trading with arrows, but it can also be installed on Metatrader 4 for manual use.
It is called the “ Alert Arrows Non Repaint ” Indicator. Being equipped with arrow alerts it is possible to test it in automatic programs such as MT2 . It is one of the best indicators tested and currently in use on our MT2.
A “non-repaint” indicator is what more experienced traders are looking for. Unfortunately the indicators are almost all “repaint” and most aspiring traders do not know what the term means. And when they find out, the damage is often already done!
The term “repaint” refers to the characteristics of the indicator, which changes its past appearance by “adapting” to changes in the graph, thus giving information on its performance that is no longer verifiable. In practice, a new “coat of paint” is given to appear more valid.
The trader thus finds himself in the position of not being able to evaluate the quality of his indicator by observing the graphs of the past.
The indicator works! But unfortunately it is a “repaint”.
How many times have you been thrilled to discover the validity of your indicator’s performance in the charts past?
Proposing to traders this type of indicators from sites that sell indicators and strategies by making money on them is not difficult, as these indicators will only ever show you their best entries that have occurred in the past. These are the indicators called precisely with the English term of “repaint”
But will these instruments still give you perfect input signals in the future? The answer is no. There is no indicator that gives you perfect input signals every time.
Not even the “not repaint” indicator, but at least it gives you the ability to see how it has performed in the past and evaluate its effectiveness or not. In this way you will be able to “take note” of any past errors.
Example of a classic “repaint” indicator
Most of the indicators that you will find on the net, free or paid, are repaint.
An example can be the Zig Zag indicator that you also find by default on metatrader.
Zig Zag follows the development of prices and connects highs and lows, giving an overview of market fluctuations.
It would seem a useful indicator at first glance, unfortunately it self-regulates (it “repaints” in practice) depending on where the new candles form, not allowing the reversal point to be established.
However, it is useful to have an overview of the overall market trend.
How to use the non repaint indicator
The “Alert Non Repaint” indicator does not repaint, but it is possible that after its appearance, during the formation of the candle it may disappear and reappear .
In any case, by not doing the repaint, the indicator does not change its appearance after the candle closes , so it is best to wait for the next candle to open before considering entering the trade.
Types of Assets
The indicator can be used on major currency pairs and gives a good percentage of profit signals.
Even the time frames can be chosen. In any case, those from M15 and up are recommended.
After the opening of the next candle
If you are not using the MT2 Autotrading robot it can be tedious to wait for the entry signal arrow to appear. In this case it is useful to leave the buzzer on.
If you don’t remember them follow the procedure on How to install an indicator on MT4
- Platform: Metatrader4
- Asset: Every major currency pair.
- Trading Hours: 24 hours in open markets.
- Timeframe: M30 or H1
- Expiry: about 4 to 6 candles (120/180 minutes on M30)
The indicator is complete with template and PDF instructions.
The file you receive contains:
- The Alert Non Repaint indicator for Metatrader 4
- Template Alert Non Repaint.tpl for MT4 screen ready.
- PDF Indicator Alert Arrows Non Repaint
The indicator costs €69. Buy and download it now:
(Click the logo or scan the code)
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