Non-Repainting SuperTrend Indicator for MT4

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Non-Repainting SuperTrend Indicator for MT4

Introduction to the Non-Repainting SuperTrend Indicator

Trading the successfully involves understanding trends and trend direction.

The Non-Repainting SuperTrend indicator is one of the most effective trend following indicator that traders can use to simplify their trading process.

What is the Non-Repainting SuperTrend Indicator?

One method traders use to identify trend reversals is with the use of the Average True Range (ATR). In this concept, traders would consider a market reversal if price has reversed against a prior trend by an amount which is more than a predetermined multiple of the ATR. For example, a trader may consider a reversal if price would move against the direction of the current trend by more than three times the current ATR.

SuperTrend indicators are based on this concept. It also simplifies the process of identifying a trend reversal based on this concept by plotting a line opposite the direction of the trend which represents the level that price should reach before the market would be considered to have reversed.

The Non-Repainting SuperTrend indicator is based on the same concept. The difference is that this version of the SuperTrend indicator does not repaint making it less susceptible to false signals.

How the Non-Repainting SuperTrend Indicator Works?

The Non-Repainting SuperTrend indicator simply multiplies an underlying ATR with the multiplier. In an uptrend, it would subtract the result from the highest high and plot blue dashed line. In a downtrend, it would add the result from the lowest low and plot a red dashed line.

The indicator would detect a trend reversal only when price would close in the opposite side of the dashed line. This would then cause the line to shift on the opposite side of price action and change color. It also plots an arrow pointing the direction of the new trend whenever it detects a trend reversal.

This indicator also bases its figures on the close of each candle rather than on each tick or point movement. This makes the indicator non-repainting.

Non-Repainting SuperTrend Indicator for MT4

This version of the SuperTrend indicator is preset with a multiplier of “4”. However, this can be modified under the Inputs tab of the indicator settings.

How to use the Non-Repainting SuperTrend Indicator for MT4

How to use the Non-Repainting SuperTrend Indicator for MT4

The Non-Repainting SuperTrend indicator can primarily be used as a trend direction filter. Traders can opt to trade only in the direction indicated by the Non-Repainting SuperTrend indicator.

It can also be used as a trend reversal signal indicator by opening trades based on the shifting of the dashed lines.

It can also be used as a basis for a trailing stop loss.

Buy Trade Setup

When to Enter?

Open a buy order as soon as the dashed line shifts below price action and changes to blue, while an arrow pointing up appears. Set the stop loss below the dashed line.

When to Exit?

Close the trade as soon as price closes below the dashed line.

Non-Repainting SuperTrend Indicator for MT4 Buy Trade

Sell Trade Setup

When to Enter?

Open a sell order as soon as the dashed line shifts above price action and changes to red, while an arrow pointing down appears. Set the stop loss above the dashed line.

When to Exit?

Close the trade as soon as price closes above the dashed line.

Non-Repainting SuperTrend Indicator for MT4 Sell Trade

Conclusion

The Non-Repainting SuperTrend indicator is an excellent trend following indicator. It is even better than the standard SuperTrend indicator because it does not repaint.

However, it is best used in confluence with other indicators or trade setups.

MT4 Indicators – Download Instructions

Non-Repainting SuperTrend Indicator for MT4 is a Metatrader 4 (MT4) indicator and the essence of this technical indicator is to transform the accumulated history data.

Non-Repainting SuperTrend Indicator for MT4 provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.

Based on this information, traders can assume further price movement and adjust their strategy accordingly.

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How to install Non-Repainting SuperTrend Indicator for MT4.mq4?

  • Download Non-Repainting SuperTrend Indicator for MT4.mq4
  • Copy Non-Repainting SuperTrend Indicator for MT4.mq4 to your Metatrader Directory / experts / indicators /
  • Start or restart your Metatrader 4 Client
  • Select Chart and Timeframe where you want to test your MT4 indicators
  • Search “Custom Indicators” in your Navigator mostly left in your Metatrader 4 Client
  • Right click on Non-Repainting SuperTrend Indicator for MT4.mq4
  • Attach to a chart
  • Modify settings or press ok
  • Indicator Non-Repainting SuperTrend Indicator for MT4.mq4 is available on your Chart

How to remove Non-Repainting SuperTrend Indicator for MT4.mq4 from your Metatrader Chart?

  • Select the Chart where is the Indicator running in your Metatrader 4 Client
  • Right click into the Chart
  • “Indicators list”
  • Select the Indicator and delete

Non-Repainting SuperTrend Indicator for MT4 (Free Download)

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