- 9 лет ago
- Published в: Irish open golf 2022 betting
- 5
- Автор: Mikakora
Sooner or later, a new trader either encounters a mention of indicator repainting or stumbles upon such an indicator itself. So, what is a repainting indicator? If you wonder what a repainting indicator is, then this tutorial is for you. The concept of repainting and non-repainting indicator often confuses traders, especially new ones.
However, there is nothing difficult in these concepts and it is also very important for traders to understand what repainting indicator is and how to recognize one because there are many scams involving the sale of repainting Forex indicators online. What are repainting indicators? Repainting means that the indicator is updating its display, changing what has already been on the chart.
There are two major types of repainting: Repainting the latest candle Nearly all technical indicators constantly update the current candle value with each new tick. It is a totally normal behavior. The Close price of the current candle changes for as long as the candle is forming, so if the indicator is based on Close prices which is often a default applied price type , the indicator's value at the current bar will change too.
This isn't bad and many traders wouldn't even call this repainting. To mitigate the results of such repainting, traders should wait for the candle to close and a new one to open before taking any consideration of the indicator's value. However, if you set the indicator price type to Open, this ceases to be a problem at all. For example, see the latest candle repainting with these two classic RSI indicators — the red one is applied to Open, so its value never changes after it has been calculated for the given candle; the blue one is applied to Close and is updating with each new tick: Repainting past candles Some indicators are changing their signals on past candles.
It means that the indicator's code is looking at the future candles to paint the display for the past bars. Of course, a trader cannot rely on such an indicator in live trading as it won't be seeing future candles when attached to a chart. This is a bad kind of repainting. For example, you can see how a famous repainting indicator Semafor keeps repainting the signals on old candles.
If you would have acted on any of them, you would get yourself in trouble: If you look at the same indicator's output in retrospect, it looks perfectly precise and impeccably timed: Do all indicators repaint? Of course, not all indicators are repainting. In fact, the majority of the technical indicators people use in FX trading are non-repainting. A normal non-repainting indicator doesn't change its signal value for the candle after that candle has closed.
Non-repainting indicators never look into the future to give a signal for the current candle — they are calculated purely using the current or past candles. Such indicator will never change its value on one of the past candles should some new data arrive. Why do indicators repaint? Repainting of the past candles when added intentionally by the indicator developer is usually aimed at fooling potential users to make the signals appear more accurate or timely. What appears as perfect signals on a historical chart will actually turn out to be nowhere near as good in live trading.
The historical chart was showing the indicator with all its signals already repainted using the chart data that hadn't been available at the time of those signals. In short, a repainting indicator can be made to look much more appealing than a non-repainting indicator — its historical entry and exist signals very precise and perfectly timed.
Sometimes, an indicator can be made repainting intentionally but without any malicious intent. This can be useful to make further chart analysis easier or to highlight some peculiarities of the price action. In any case, the developer should clearly disclose the repainting nature of the indicator. Otherwise, it is generally considered cheating or even scamming by the community of Forex traders.
Occasionally, an indicator can be made repainting completely unintentionally. It is possible to code an indicator in such a way that it "looks" at the next bar to the right instead of previous bars to calculate its signal value. This error can be committed by a beginner developer without giving it a second thought.
That is why it is important for indicator coders to test and backtest their work before releasing it to the public to avoid being accused in repainting scam. If you use such indicator in trading, you should take a cue only from the finished candles. Repainting in multi-timeframe MTF indicators An often-overlooked kind of repainting issue is the one that occurs in multi-timeframe MTF indicators.
An MTF indicator is an indicator that uses data from other timeframes normally, higher ones. For example, a simple multi-timeframe moving average indicator could be displaying an SMA value from a daily timeframe on your H1 chart. Some MTF indicators can look very appealing thanks in large to their repainting effect.
As you can see, the higher timeframe MA value becomes visible on the first candle of the day marked with the red arrow. However, in live trading, it wouldn't appear until the first candle of the next day marked with the green arrow : When trading with multi-timeframe indicators, you must always remember to keep an eye for such a repainting and never judge the efficiency of such indicators by their appearance on historical charts.
How to know if the indicator is repainting? You can launch a visual backtest of any indicator and see if its signals change post factum. Use the Settings tab to set up a backtest of the indicator you wish to check for repainting. Switch from Expert Advisor to Indicator. Visual mode will turn on automatically. Select the indicator name via the drop-down list. Set timeframe to M1 - unless the indicator doesn't work on that timeframe; in this case, set the smallest possible timeframe.
Switch Model to Every tick. Change other settings to your liking or if the indicator requires some specific configuration. Run the test, adjusting the speed to be able to notice if signals change on the past candles when the new ones arrive. You can also watch the entire process in detail in this video: As you can see, it isn't hard to tell if the indicator is repainting or not.
One potential problem with some particularly malicious indicator sellers could be that they detect whether indicator is being tested in Strategy Tester and skip repainting if so; this would conceal the repainting nature of that indicator, but it would also reveal how inferior its signals are as the repainting is mostly done to make signals look more accurate than they are.
How to tell if an indicator is repainting if I cannot backtest it? If the developer doesn't want to provide a demo version for backtesting, ask directly whether the indicator is repainting or non-repainting. Developer might acknowledge its repainting nature because, perhaps, the indicator isn't supposed to be used for taking direct trading signals.
If the developer insists that the indicator is non-repainting but all the provided historical chart screenshots show perfect entries and exists that are too good to be true, the chances are the indicator is a repainting one. The Length threshold is based on the center of the equipment, not the front wall; so from center to front, or center to rear of equipment.
The Width threshold is based on the center of the equipment, not the left wall. The Height threshold is based on the equipment floor. Set a criteria for equipment utilization. Weight Utilization will be configured as a threshold to determine if the length calculation will be done. The weight utilization factor is between 0 and 1. Width Calculations are always done. Note this threshold since OTM packs from the left side. Height Calculations are always done. Related Topics.
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