No Repaint Indicator

MT4 Free Download

Introduction to the No Repaint Indicator

The No Repaint Indicator is, as the name suggests, forex no repaint indicator. It means that it doesn’t change the provided trading signals. Thus, this is a huge advantage for many traders, as they can rely on solid and accurate indicator that can be easily backtested. Speaking about trading signals – that forex no repaint indicator displays buy/sell arrows.

The No Repaint Indicator fits all kinds of timeframes and currency pairs. It is displayed directly on the main trading chart. The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.

How does it work? How to apply in trading?

Trading Rules Explanation

The No Repaint Indicator provides buy/sell arrows as trading signals. At the first glance, it may look that there are too many arrows displayed. This is partially true, but suggest adding a filter in the form of, for example, the 50-period Exponential Moving Average. That way we only trade in the direction of the main trend and provided signals are much less noisy.

Buy Signal

Follow these steps for a long trade:

Price is located above the moving average
No Repaint indicator provides buy arrow
Price swings higher from recent low swing
Buy trade is triggered after the above conditions are met
Set stop loss a few pips below the last swing low of the market
Take profit or exit whenever the No Repaint indicator provides opposite arrow or use your own method of trade exit

No Repaint Indicator Example of Buy Trade

Sell Signal

Follow these steps for a short trade:

Price is located below the moving average
No Repaint indicator provides sell arrow
Price swings lower from recent high swing
Sell trade is triggered after the above conditions are met
Set stop loss a few pips above the last swing high of the market
Take profit or exit whenever the No Repaint indicator provides opposite arrow or use your own method of trade exit

No Repaint Indicator Example of Sell Trade

As always, to achieve good results, remember about proper money management. To be a profitable trader you need to master discipline, emotions, and psychology. It is crucial to know when to trade, but also when not to trade. Avoid trading during unfavorable times and market conditions like low volume/volatility conditions, beyond major sessions, exotic currency pairs, wider spread, etc.

How to set up the No Repaint indicator in MT4?

Installation Guide

Download the No Repaint.rar archive at the bottom of this post, unpack it, then copy and paste the No Repaint.ex4 or No Repaint.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.

You can gain access to this folder by clicking the top menu options, which goes as follows:

File > Open Data Folder > MQL4 > Indicators (paste here).

Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.

Bottom Line

The No Repaint indicator is well worth adding to your trading collection. A good forex indicator will most probably enhance your chance of success. Nonetheless, remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it.