When you trade in Forex Market, you will find a lot of opportunities, if you position yourself properly and arm yourself with the right technical indicators and skills. Using the right technical indicators can improve your earning and enable you to trade on auto-pilot. However, trading successfully requires a high level of discipline; otherwise, you will see the investment you have labored for day and night goes down the drain.
While it is true that maintaining discipline is vital to achieving success, how will a trader maintain discipline knowing fully well that his/her money is at stake? It’s simple! One way to maintain discipline is to stick to a trading strategy that works for you. The non-repaint trend indicator is back-tested and well-planned to help you maintain a high level of discipline. All you are required to do is to simply follow through with the rules we will share in this article. A good trend indicator should always be in our list off Best Metatrader Indicators and Non-repaint trend indicator earns its spot hands down.
Without much ado, let’s get started
What is a Non-repaint Trend Indicator?
However, like other technical indicators, a non-repaint trend indicator is a tool you can leverage to identify new trends, locate overbought and oversold sessions. The tool combines several strategies (MACD, RSI, and MA crossover) to deliver maximum results when you need it the most. It was developed by Rajandran, the Founder and CEO of Marketcalls. Plus, it works on all currency pair
How To Set up The Indicator
Installing the indicator is pretty simple; just follow the steps below:
- Download the indicator for MT4 trading platform from any reliable sources
- Copy the indicator to MetaTrader folder and go to expert/directory/indicators folder to paste the indicator.
- Restart the MT4 trading platform
- Go to the indicator folder in MetaTrader 4 and select the indicator you want to install
- Click on the indicator to activate it
- Attach the indicator to any currency pair
- Customize the indicator as you wish and press ok
- The non-repaint trend indicator should appear on your trading chart.
Strategies To Use The Indicator
Long Entry Rules
Initiate a buy order when you see the following display on the chart:
- If the indicator’s dotted line aligns with the blue upward pointing arrow. At this point, the price is lower for you to buy any currency pair (as seen above)
- If the MMR custom indicator (green histogram) aligns with the blue dodger line above 0.0 level. The indicator will send a buy signal for you to buy any currency pair of your choice.
- You should place a stop loss below the blue dotted line
Exit Strategy/Take Profit for Buy Entry
Take profit or exit a trade if you observe the conditions below:
- If the indicator becomes a red arrow placed above the candles.
- If MMR custom indicator breaks below 0.0 level.
Sell Entry Rules
Initiate a sell order when you see the following display on the chart:
- If the indicator dotted line aligns with the red arrow pointing downwards.
- If the MMR custom indicator (red histograms) breaks below 0.0 level
- A stop-loss order should be placed above the falling red dotted line
Exit Strategy/Take Profit for Sell Entry
This is the last strategy. Take profit or exit the trade when you observe the conditions below on the chart:
- If the non-repaint trend indicator forms a blue arrow pointing upward.
- If the MMR custom indicator ( blue dodger line) breaks above 0.0 level
Best Non-repainting Trend Indicators
While are there many non-repainting trend indicators on the market, we have compiled 14 best non-repainting trend indicators for you to consider. Take a look at them:
- Trend direction and Force Index
- Chaos visual averages
- Super smoothed averages trend
- Auto Fibonacci
- RSI Bollinger bands
- Jurik volatility bands
- Jurik PPO Laguerre
- Auto supply & demand zones
- Trend scalp
- Lower & higher timeframe Ichimoku
- Adaptive Jurik Filter
- Hull moving averages mountain histogram
- Composite RSI with floating levels
- Color RSI
The use of technical indicators to trade forex cannot be overemphasized. From technical analysis to determining market trends, the use of indicators comes with a lot of benefits. The non-repaint trend indicator is desirable to a lot of traders out there.
However, for you to master its use, you need to practice with different currency pairs. It would be best if you don’t use the indicator in isolation, it works best when combined with other indicators like support and resistance, to increase your chances of making a profit.
Moreover, we have developed the winning Forex Indicator, which can be relied upon when it comes to spotting the trend. It is based upon identifying the trend and is currently the best of its kind. After doing several types of backtesting on numerous Forex Pairs using different timeframes, it is finally made available for the public to use.
Additionally, for you to make gains, you can scroll through the site to find many other indicators and trading to tools to help you improve your earning.