Author:
Rajandran - Founder of Marketcalls. Since its inception on September 11, 2007, Marketcalls has been a go-to resource for traders seeking intelligent stock market analysis, trading strategies, and forecasts. Here, we dive into charts, patterns, technicals, and strategies, always aligned with current market data.
What Makes the Non-Repainting SuperTrend Indicator Stand Out?
The Non-Repainting SuperTrend is a reliable tool that offers several benefits compared to the traditional SuperTrend indicators:
- Robust Calculation: Instead of relying on a moving average, this indicator uses a moving statistical median of the arithmetic mean of the highs and lows of the bars. This method is known to provide more stability and accuracy.
- Historical Context: It computes both the median and the Average True Range (ATR) from one bar ago. In contrast, the original SuperTrend indicator uses the ATR and moving average of the current bar, which can lead to misleading signals, especially with shorter ATR periods.
- Clear Signals: The Non-Repainting SuperTrend gives a reversal signal when a bar closes on the opposite side of the stop line, allowing traders to make informed decisions.
- Instant Price Check: An added feature is the magnified market price display, enabling quick checks of the current market price.
If you're interested in the older version (which does repaint), you can find it here.
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