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Thread: PAINTING OR NON-REPAINTING INDICATORS - Whats the difference?

      
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    Administrator Mike's Avatar
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    Help PAINTING OR NON-REPAINTING INDICATORS - Whats the difference?

    I have a very limited knowledge of MT4 programming, I use an indicator or two here or there if and when I use MT4, but I use other software as well. Sniper said it best in this other thread, be careful if this is a repainting indicator, there's many schools of thoughts about which indicators repaint themselves, why they repaint, is that good or bad, what that means, but to me it becomes more about whether or not the indicator helps on a LIVE SETTING as opposed to looking good in back tests; not to plug TopGun but that is a major reason why I am prone to use those indicators, when you see an indicator react to price (and I know this only happens a small amount of times per day) I am put in a mindset of a trade is forming one direction or another, then I, in essence, scalp in that direction in an attempt to catch a move to a nearby statistical area where I can set stops logically, especially if risk is low; not repainting indicators mostly as far as I can tell. But the repainting, essentially this means the indicator on the bar you are looking at is redrawn from previous bars close meaning it becomes less reliable as you are trading live, correct me if I am mistaken. On top of that a large percentage of indicators in existence repaint themselves just by their nature, but some more so than others.

    There goes again the age old battle between back testing and forward testing.

    But it gets kind of complicated because you can argue all indicators repaint the current bar regardless, so trade how you will, let's discuss the idea of painting and non repainting indicators, why they are good, why they are bad, which are, which aren't.

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    Administrator Mike's Avatar
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    Default Re: PAINTING OR NON-REPAINTING INDICATORS - Whats the difference?

    I am reading that ZigZag is a notoriously infamous repainting indicator, here are some examples of it working and not working so well.

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    Will Work For Pips Bloodymary's Avatar
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    Default Re: PAINTING OR NON-REPAINTING INDICATORS - Whats the difference?

    A repainting indicator is one that a scumbag programmer stole from a different programmer, thats why 90+ percent of them are frauds. You are a little off.

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    Default Re: PAINTING OR NON-REPAINTING INDICATORS - Whats the difference?

    Yea sniper schooled me pretty good

    I wish we had a screen recording to show you how these repainting indicators that he identified as Semafor dots that even though in hingsight it looks like it nailed the top or bottom of a move, in real time the dot keeps moving itself lower or higher! To me thats what a repainting indicator means, not sure about this previous bar close business, but it does make sense because on the minute chart it was like moving from bar to bar until the end of the move, so in a way it did draw itself at the right point in many cases but i had to wait for the bars to close definitively and the dot staying in place, sometimes too many bars to get into the trade.

    So I see these repainting indicators as a detriment almost, someone else in the thread said it was a good exit point.



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    Default Re: PAINTING OR NON-REPAINTING INDICATORS - Whats the difference?

    Quote Originally Posted by Mike View Post
    I am reading that ZigZag is a notoriously infamous repainting indicator, here are some examples of it working and not working so well.
    Did you add the ZZZ indicator or does that come with Zig Zag?!?

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    Default Re: PAINTING OR NON-REPAINTING INDICATORS - Whats the difference?

    Quote Originally Posted by Bloodymary View Post
    A repainting indicator is one that a scumbag programmer stole from a different programmer, thats why 90+ percent of them are frauds. You are a little off.
    That's not true, who told you that?

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    Default Re: PAINTING OR NON-REPAINTING INDICATORS - Whats the difference?

    I took a couple of time lapse screen recordings of a few of the repainting indicators discussed in other threads upon request. With SnakeForce in particular, it's just really impossible to trade on 1 Minute like many of you said, I would never think to use this as a trigger for an entry simply because it flips from green to red with ease on every wave no matter what the trend. To me that is the definition of useless, repainting or nonrepainting.

    <iframe title="YouTube video player" width="640" height="390" src="http://www.youtube.com/embed/JxHDrry2JkQ" frameborder="0" allowfullscreen></iframe>

    However, on the 15 Minute, you almost never see the previous snake bar repaint itself and if it does it quickly changes back and in at least 3 occasions I took demo trades and then immediately look over to my TopGun charts and say to myself, I would have never taken that trade. So make your own judgments on the matter with this indicator.

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    Default Re: PAINTING OR NON-REPAINTING INDICATORS - Whats the difference?

    I took a couple of time lapse screen recordings of a few of the repainting indicators discussed in other threads upon request. With SnakeForce in particular, it's just really impossible to trade on 1 Minute like many of you said, I would never think to use this as a trigger for an entry simply because it flips from green to red with ease on every wave no matter what the trend. To me that is the definition of useless, repainting or nonrepainting.

    <iframe title="YouTube video player" width="640" height="390" src="http://www.youtube.com/embed/JxHDrry2JkQ" frameborder="0" allowfullscreen></iframe>

    However, on the 15 Minute, you almost never see the previous snake bar repaint itself and if it does it quickly changes back and in at least 3 occasions I took demo trades and then immediately look over to my TopGun charts and say to myself, I would have never taken that trade. So make your own judgments on the matter with this indicator.

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