What is repainting in Forex?
Repainting in the forex is a term that represents the trading platform indicator that repainting, it means that Repainting indicators always use future data (bars to the right) to come up with values and entry signals. This is how repainting indicators make sure their historical entry and exit signals look extremely accurate and flawless when actually it is not.
Generally, it is a cheat indicator that looks great on the back-test but it cannot be used for live trading. In most cases, it calculates future data (candles to the right) to show more accurate values or entry signals. In the real-time world, we do not know what will be the open, close high and low price of the future candle, so the indicator that using these data is a fake indicator with no real use.
How to know a indicator is repaint?
The best way to do so is by using Meta Trader’s Strategy Tester tool. Select the indicator, the one you want to check. When you open the tool, ensure that the model parameter is set to “Every tick” value. You can select any trading instrument and keep default indicator parameters. Though any time-frame would work, I recommend you to use a smaller one because it will fasten the test. The visual mode must be checked. Now, you are ready to start the test. If you do so you will see the indicator running in the chart. Check the indicator, if the values or signals change after the candle was formed it means that the indicator is repainting.
Summery
Non-repainting indicators in real life are less problematic. Though most of them have a lagging tendency, they are highly valued as the information they provide doesn’t change. Looking at the historical charts of such an indicator may not be that appealing, but their reliability coupled with their ability to be used alongside other indicators makes them more dependable. Many traders find it extremely frustrating to use repainting indicators. The historical results from these indicators are excellent, and at some point, traders may think they have just hit the “holy grail” only to realize in real time the results are far from what they saw earlier.
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