Non-Repainting Supertrend Indicator is one of the simplest trend-following indicators you may have ever experienced. Its simplicity of use, signal accuracy, and easy chart demonstrations are the reason for its rising popularity among the trend-based traders. Newbie traders hail this indicator as a “simple but effective solution” for the daily trading activities.
Non-Repainting Supertrend Indicator works great for scalping and intraday trading purposes, thus suits great with M5 to H4 timeframe charts within the MT4 trading platforms. Besides, it can be applied to trade any forex currency pair you like around the financial markets.
Non-Repainting Supertrend Indicator Overview
After the installation of the Indicator at the MT4 terminal, your trading chart will appear like the following image:
Non-Repainting Supertrend Indicator Explanation
Non-Repainting Supertrend Indicator works in a similar way of Moving Averages. However, like MAs, it does not react with every closed price bars or candlesticks. It changes its value in a periodic way. That is how it avoids printing frequent signals on the chart and maintains a better signal accuracy. More importantly, it is a stand-alone indicator which means, it alone can guide you through market trends, trade signals, and trade exits. Furthermore, you can use its levels as trailed stops while trading in the market.
Non-Repainting: Buy Parameters
- Price level holds above the current Indicator value
- Price forms a solid bullish candle/pin bar right above the indicator level
- Buy triggers after the above conditions are met
- Set stop loss below the current indicator level
- Exit long/take profit whenever price hits below the present indicator value
Non-Repainting: Sell Parameters
- The price level holds below the current Indicator value
- Price forms a solid bearish candle/pin bar right below the indicator level
- Sell triggers after the above conditions are met
- Set stop loss above the current indicator level
- Exit short/take profit whenever price hits above the present indicator value