td ameritrade thinkorswim system requirements

You will see more buy arrow repainting when the instrument has a strong bearish trend. Never use a repainter for entry in isolation! They purposely repaint when trends change and when support or resistance are broken through thus providing up-to-date data as to the state of our trend. Repainter's proper use, by most traders, is not for entry but for analyzing trendlines and support & resistance on a higher timeframe. They are written specifically to repaint. Just the potential of that possibility causes traders to lack confidence, to leave trades early at the smallest sign of trouble, creating a feedback loop of ever-smaller profits and ever-larger losses.

But it can also be wrong, it erases the signal, continues to drop like a rock, and crushes previous profits. Repainters provide triggers promising a stock has hit a low (or high) and is indicating NOW NOW NOW is the time to make entry, and it can be right, reinforcing their belief that this is a good strategy. The Negative: Repainting is problematic especially for newer traders. Use repainters in correlation with price action, candlestick patterns, a disciplined stop-loss plan, and the fortitude to weather the losses that come with the false signals.

Repainters serve as a visual aid to spot potential reversals, but other indicators and analysis need to be used to determine entry and exit points because repainters are such prolific liars. However, repainters can not be relied upon for entry or exit signals. The Positive: Repainters are the fastest tool for identifying and alerting to tops and bottoms, making them an essential part of the scalper's toolbox. No, repainting indicators can not be rewritten to not repaint. They utilize forward-looking variables causing them to repaint until the future bars close. Repainting indicators repaint higher highs until the next lower low and repaint lower lows until the next higher high.įorward-looking scripts such as several of the Hull studies also repaint.

ZigZags, Swings, Waves, Reversals, Pivots, and all Higher Highs-Lower Lows are all repainting indicators. Everything you wanted to know about REPAINTING and were afraid to ask

Td ameritrade thinkorswim system requirements