I am not expert but I can explain.
It is numbers of the bars:
bars_2206.jpg
So, current open bar is bar/candle #0.
Previous (closed bar) is bar #1.
Repainting.
1. First case.
MTF indicators.
In case of MTF indicators:
the re-painting means 'continuing painting the past'.
I remember fxbs corrected me for that when I said that MTF is re-painting.
MTF indicators are continuing painting.
Because in case of MTF (example): you attached indicator to H1 (for example) and indicator is calculating everything on closed bar on H1; but in the same time the indicator is taking the data from D1 timeframe (for example) and the candle on D1 is not closed in that time.
Open candle, price is between low/hight with any value.
It is 'continuing painting the past' case.
How to use MTF indicators?
Usually the traders are using it as confirmation for some signal, or as some filter.
For example, signal to open sell or buy - second case indicators, confirmation - any case indicators.
2. Second case.
Indicator is normal one. Not MTF.
Calculated for closed bar (=previois bar = previous candle = bar #1).
Most of indicators are as the second case.
Not repainting.
How to use non-repainting indicators? Everybody knows ... wait untill the open candle will be closed and if you still see the signals on closed (bar #1) candle so open your trade.
Why people are complaining if they see that normal one indicator is repainting?
Because we open the trade on close bar. We open sell order. And after few hours we see that the signal was changed from sell to buy. And it was changed on few hours ago bar! On the history! It was changed for past and we see it on the chart. And you are losing money.
Why? Because author did not tell us that his indicator is on 3rd case.
3. 3rd case.
Some people are creating the indicators mistakenly (error), or to sell ("can you see - how nice my indicator is drawing this lines?"), or for some other reason.
What they are doing?
They are calculating based on future bars.
Bar 0 is current open bar.
Bar +1 is previous closed bar.
and so on.
But they are calculating based on the bar -1, bar -2.
Bar -1 on D1 timeframe will be to tomorrow.
That is some kind of mistification ... authors want for their indicators to look good on the chart but we, traders, are loosing money because of that.
This 3rd case is error in common understanding.
It is not indicator. It is error.
4. 4th case.
It is indicators which were created especially to re-paint.
Those indicators must re-paint.
It is zigzag and so on.
Why? Well ... it is used for patterns, for high/low, for support/resustance.
I used and am using a lot of 4th case indicators.
But for confirmation only. Same with MTF indicators.
Those indicators can be used differently.
It is nothing with closed bar, open bar and any other things.
There is the thread with explanation about how to use those kind of indicators.
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Well.
Example 1.
You are using MTF indicator in the way of normal (second case) indicator: open trade on closed bar. And you see repainting. What does it mean? It mean that you do not know how to use those MTF indicators. Those MTF indicators can be used as the filters only, or as confirmational indicators only.
Example 2.
You have normal indicator. Case #2.
You can use this indicator for everything: as signal indicator to open the trade, as the filter or as the conformational indicator.
Example 3.
Mistakenly re-painting. Case #3.
We can not use it.
It is error.
Example 4.
It is case #4: especially repainting.
We can use it for confirmation, as the filter and for many many other cases. It is patterns, level trading, support resistance, trade lines and so on.
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Well.
What is the price?
Some people are using price only to open the trades. They are using price on the chart as indicator.
Price is case #4.
thanks, ND
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