Trend Path Non-Repaint Indicator
MT4’s Trend Path Non-Repaint indicator uses various technical techniques to find the best trend reversal zone.
- Description
- Reviews (0)
- Indicator Settings
Description
A special trend-following technique designed with a variety of technical tools to pinpoint the ideal trend reversal zone is the Trend Path Non-Repaint indicator for MT4. Among the top technical trading indicators, it is appropriate for swing, day/intraday, and scalpers.
This non-repaint indicator combines a buy/sell arrow signal, a tool to identify overbought/oversold zones, and a band that defines the trend direction and measures market volatility. The dark orange and dodger blue bars represent the overbought and oversold zones, respectively, while the signal arrows indicate buy and sell inputs.
How to Trade With the Trend Path Non-Repaint Indicator
On the EURUSD chart, the behavior of the indicator is depicted in the figure that is located above. The timeframe in question is H4. In addition to that, it demonstrates how to construct a high-probability setup by combining the signal of the indicator with the action of the price.
You can see that the indicator initially detected an oversold zone, which indicates that there is a possibility of a trend reversal to the upside. This is illustrated in the figure. Additionally, it painted a buy arrow, which aligns with a bullish engulfing candlestick pattern. This is a really interesting development. Further confirmation of the potential of a bullish advance is provided by these confluences, which include a buy signal arrow and a bullish engulfing candlestick figure.
An overbought zone was first discovered by the indicator, and then a sell arrow was painted on the chart. This is very similar to the purchase signal. The price also demonstrated a readiness to move to the downside because it reacted to the upper band of the indicator, which also serves as a potential resistance zone. In addition, the price showed a willingness to move in the opposite direction.
Conclusion
The Trend Path Non-Repaint indicator for MT4 is an appropriate forex trading tool that can be utilized by both novice/intermediate traders as well as advanced traders in order to determine the most effective trend reversal situations. On top of that, downloading it is completely free.
Be the first to review “Trend Path Non-Repaint Indicator”
Half Length: Configures the curvature and structure of the indicator bands.
ATR Length: Sets the period for calculating the Average True Range (ATR) used in trend detection.
ATR Multiplier: Specifies the multiplier applied to the ATR value.
Show Over: Toggles the display of bars and signal arrows on the chart.
Over BT: Sets the color for highlighting overbought areas.
Over SD: Sets the color for highlighting oversold areas.
Oversize: Selects the style of bars representing overbought and oversold conditions.
Big Arrow Bar: Determines where the signal arrows are placed on the chart.
Big Arrow Gap: Has minimal or no effect on the indicator’s performance.
Bg Cod Up: Defines the appearance and direction of the SELL signal arrow.
Bg Cod LO: Defines the appearance and direction of the BUY signal arrow.
Reviews
There are no reviews yet.