Using indicators to find potential reversal spots in the market can quickly help you find high probability trades.
Using a non repaint reversal indicator can offer you a good starting point to finding these high probability trades because the data is not constantly changing.
This post looks at what repaint and non repaint indicators are and how you can use a non repainting reversal indicator in your MT4 and MT5 charts.
NOTE: Want a full list of some of the best free MT4 and MT5 indicators you can use in your trading? You can get them below.
What are Non Repaint Indicators?
Repainting indicators can, at times, be misleading. This is because repainting indicators continue to change their values. Repainting indicators are created using future data (bars that form to the right on your charts).
Non repainting indicators, however, do not change their values. Once a bar or candlestick is closed, a non repainting indicator will not change its value or signal.
Non repainting indicators typically take their values from the bars to the left of your charts (the closed bars). Each candlestick has a high, low, open, and close, and once the candlestick has closed and a new one is starting to be created, the non repainting indicator will not change.
How to Use a Non Repaint Reversal Indicator
Because non repainting indicator does not change their values, they can be straightforward to use.
While different non repainting reversal indicators will be created using different strategies, the example below shows you how they can work.
This example chart below is from the MT4 cybersingfx reversal indicator.
As you can see in this example, clear buy and sell signals are created on your chart.
This type of indicator is as simple as buying when there is a green arrow and selling when there is a red arrow.
Non repainting indicators are often preferred by traders using MT4 and MT5. This is because once a candlestick has closed, they don’t continue to change their values.
This can be incredibly important when using indicators for trading signals because you need to know what to do in live time.
As with any indicator, it is always best to backtest it and test it on free demo charts before using it with real money.