What does it mean when Indicators repaint?

what does indicator mean

| Joined Oct 2007 | Status: Member | 2 Posts

Hi, could someone please explain to me a few things about what it means when an indicator is said to repaint .

Hi, could someone please explain to me a few things about what it means when an indicator is said to repaint .

| Joined Jul 2006 | Status: useless, brainless, stalking troll | 785 Posts

Don't know what everyone else would say it means, but I have always thought of it as those indicators that actually shift location on the chart. When you put some indicators into metatrader for instance and scroll backward in time they actually move to different locations in comparison to where they were at when looking at them live. To be honest, I can't name one now, but I saw them back when I was downloading every other indicator on this forum thinking they would help. I do not know why this repainting occurs, as I figure most are based on previous x, xx, or xxx amount of periods worth of price averages? Also, minor repainting can occur based on the PRESENT close of a period. I wouldn't consider this repainting, but it can be deceptive depending on how you trade.

A simple MA will not repaint, by my definition. Others who hold a vendetta against MAs may say so just to libel the poor thing, as if it hasn't had enough of a hard time. Most MA based indicators are dependable in terms

of not repainting. They are all based on averages of the past, what you see is what they are. Therefore, if I say to put a single 300 MA on a 4hr graph and look at the past 18 months on the EUR/JPY, you can believe honestly that what you see is what happened, and not only because someone interacted with the markets live during those times says so.

Further, you can confirm the figures by using a spreadsheet and entering in your own data, you can often get within 1 or 2 pips going back months and months in the spreadsheet from what you see on the chart. If you can't recreate an indicators numbers/figures in a spreadsheet, then there is likely something fishy going on. Therefore, I would stick to things based strictly off of consistent past averages.

Direct comparisons can't be made. There is nothing to really base it on? Nobody has ever actually proved, from what I have seen drifting around, that it was an indicator that was making them money.

In terms of the other question, no, they aren't useless. Also, sure, they are useless. Both are equally right responses and both are also entirely wrong. If you can make one of the indicators, help you trade, then it is good, if not, then it is bad. What others do with them is completely irrelevent unless you are copying someone else's every move.

The market is my nation. Traders, my family. Hello, brothers and sisters!

Source: www.forexfactory.com

Category: Forex

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