Top 10: The Best Non-Repainting Forex Indicators for MT4 that really work
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Meridian 10: The Best Non-Repainting Forex Indicators for MT4 that really piece of work
Here is our tried and tested list of the Top 10 all-time performing non-repainting Forex indicators for MT4 that really work.
This listing will be updated every 3 months with new indicators added to the list and so feel free to submit your suggestions and indicators to our staff for review by posting your suggestion up on either one of our Social Media pages: Twitter and Facebook.
Itrend Averages
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Nosotros like:
- The non-repainting iTrend indicator is i of the most truly profitable trend trading indicators we've so far run into.
- Visually pleasing and easy to use, even at just a glance even novice traders can use this code to spot the trend.
- No need to use other confirmation tools, the itrend can be used on information technology's ain for Entering and Exiting.
- Does a skillful chore at guiding traders on where the actual tendency starts, and likewise, where the trend ends.
- The 2nd level can be used as a cinch signal for scalping entries or re-joining existing trends, especially during "bursts" of volatility.
- Comes with 40+ different types of Averages to employ as the iTrend'due south adding including ADXVMA (hence the "Averages" in it'due south name)
- Works remarkably well for trading Futures, Forex, Cryptocurrency and Indices.
Room for improvement:
- Lacks a Multi-timeframe mode at this stage, merely is one technical indicator that does non need MTF for profitability, due to the accurateness of the indicator.
- If nosotros have to exist picky, this tool is unable to aid traders with placing their stop losses or take profit.
Stride NEMA
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We like:
- NEMA (n-EMA) tin can summate up to 49 EMA'southward and it uses upward to 50 calculating buffers internally. Information technology calculates EMA, DEMA, TEMA and so on depending on NemaDepth parameter. In simple terms, using "3" in the NemaDepth will requite you Triple Exponential Moving Averages. Using "forty" in the NemaDepth volition give you Quadragintuple Exponential Moving Averages.
- Very authentic for entering swings, exiting then entering again.
- Can be used every bit a guide to set Stop Losses.
- Comes with Multi-timeframe + Interpolation, Display options such as "dots", "bars" and much more than plus Alerts.
Room for improvement:
- Having the ability to multiply Exponential Moving Averages up to 49 times won't exactly assistance with trading and does not do much except for smoothing of the Exponential Moving Average over and over again.
- Some of the indicator'south settings are designed for more avant-garde technical analysts. Sadly, guidance on how to employ this tool's full list of settings is non-existent and tin be a scrap of a puzzle for newer traders.
Waddah Attar Explosion Averages with ATR DeadZone
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Nosotros like:
- Works exceptionally well, particularly with these tweaked settings.
- The ATR DeadZone adds additional confirmation of a volatile move.
- Alerts are now bachelor for whenever the ATR DeadZone is pierced.
- Visually unique and different from most subwindow-based indicators.
- Can be used to simplify your chart'due south appearance.
- Can be used on it's own as a consummate system for entering and exiting trends.
- Comes with Multi-timeframe + Interpolation, a big range of Moving Average methods, plus Alerts.
Room for comeback:
- Requires traders to sympathise what each line does.
Trend Direction & Force index
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We like:
- Powerful for trading trends
- Enabling "Modify Color On Null Line Cross" option gives trend traders superior & much better signals compared to the MACD.
- A tried and tested indicator that is reliable for scalping and entering swing trades on all timeframes.
- Elementary and easy to utilize.
- Works very well every bit an entry filter for timing/executing trades.
- Can be used by all types of traders, directly out of the box, without having to make any adjustments.
- Comes with Multi-timeframe + Interpolation, Multi-symbol choice, plus a large range of over 33 different Averages to use equally filters for smoothing and for toll.
Room for comeback:
- Even though this is a reliable indicator with authentic entry signals, the merchandise-off is that many opportunities are non given and signals can be few and far between (peculiarly when using this tool in Multi-timeframe mode). This can cause impatience.
- Tin be daunting for new traders who may often find themselves "squinting" at the median line trying to figure out when a valid trade entry is about to begin.
Chaos Visual Averages
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We similar:
- Superb accuracy and ability to forecast tops and bottoms even on the smallest timeframes.
- Visually pleasing and easy to run across market conditions.
- Strong back-testing results.
- Alerts.
Room for improvement:
- Farthermost Overbought and Oversold weather can lead traders to premature trade entries during strong trends, leading to drawdown earlier trends finally come to an end.
Super Smoothed Averages Trend
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Nosotros like:
- Arguably one of the all-time trend trading, Moving Boilerplate style, indicators to date.
- Highly authentic for catching trending moves.
- Can exist "stacked" so that multiple instances of this indicator can be placed on the chart to course Waves, Crossovers and more (example here).
- Comes with Multi-timeframe & Interpolation.
- Includes Alerts and Button Notifications.
Room for improvement:
- Can exist hard for novice traders to figure out which settings and "stacking" combinations are the best.
- Non too much information has been shared in regards to how this tool was coded or exactly what information technology's comprised of.
Automobile Fibonacci
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What nosotros like:
- Ideal educational tool and guide for new traders looking to exercise cartoon Fibonacci retracements.
- Light on the trading platform.
- An Automatic Fibonacci indicator with Alerts.
- The only Automated Fibonacci indicator that draws the Fibonacci retracements the right way, equally shown in our Fibonacci guide hither.
What we don't like:
- Can exist slightly confusing for learners to figure out at first.
RSI Bollinger Bands
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Nosotros similar:
- Loftier-quality technical indicator.
- Comes packed with options and display configurations.
- Extremely authentic for trend-trading breakouts.
- Includes Alerts, Arrows and other user-friendly features.
- Easy to forecast breakout trades and market place volatility.
Room for comeback:
- Can exist a bit daunting for beginner traders due to the amount of features and data on screen. Beginners should accept the time to study information technology'south features and sympathize which options fit their trading style.
Jurik "Volty" Volatility Bands
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We like:
- One of the nigh authentic non-repainting indicators we have used for counter-tendency trading.
- Works in range-leap and trending markets.
- New Histogram Brandish.
- Broad range of Alert options.
- Arrows.
- Beginner friendly and like shooting fish in a barrel to apply.
- An all-in-ane indicator for Scalping, Counter-tendency trading, Trend trading and gauging the market'south movements.
Room for improvement:
- When counter-tendency scalping on the smaller timeframes this indicator can sometimes cause new traders to bound in too early. Rest assured, it's a highly effective trading tool so if you do open a position early on yous'll find that cost will eventually correct and y'all'll be able to close at break even or in profit.
Jurik PPO Laguerre
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We like:
- Accurate in forecasting Tops & Bottoms on all timeframes.
- Added Jurik Smoothing which helps eliminate faux signals.
- Beginner-friendly and piece of cake to gauge market weather at a glance.
- Extremely versatile.
- Looks good on charts.
- Scalpers volition oft observe extreme signals are few and far between.
- No alerts (nonetheless).
Auto Supply & Demand Zones
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We similar:
- Automatically draws Support and Resistance Zones for loftier-probability counter-trend trading.
- Includes an automatic Fibonacci cartoon option.
- Lightweight.
- Comes with many brandish options and configurations including a HUD (Heads Up Brandish).
- Comes with an On and Off toggle button.
- Very accurate.
Room for improvement:
- Can be a bit confusing for new traders to empathize or decide which are the best options to use and brandish.
- Does not take Multi-timeframe mode (however).
Trend Scalp
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We like:
- Ane of the most accurate indicators for scalping trends.
- Works flawlessly on all timeframes including the smaller M1 & M5 charts.
- Comes with a multitude of scalping options including Alerts on Pause and Arrows on Retracement Levels.
Room for comeback:
- For beginners, it tin can take a bit of time and practice to figure out how to utilise it.
Lower & Higher timeframe Ichimoku
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We like:
- By far, the all-time and most consummate Ichimoku indicator for Metatrader 4.
- Superbly coded and tested past an experienced Ichimoku trader.
- Allows traders to brandish whatsoever timeframe Ichimoku on their charts including lower timeframe Ichimoku on higher timeframe charts.
- Comes with every unmarried option you'll ever need.
- A perfect all-in-one trend trader's indicator. If y'all're a trend trader, this is all you'll ever need for your charts.
Room for improvement:
- The Ichimoku has a steep learning curve for beginners but this is not a trouble with this indicator itself. Overall, new traders tin can find that the full Ichimoku display tin can exist overwhelming and confusing. For novices, it's best to start off with just the Kumo Cloud displayed on your chart and then slowly written report each boosted brandish separately as your feel improves.
Adaptive Jurik Filter
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Nosotros like:
- The Adaptive Jurik Filter is known as Mrtools'southward current favourite indicator.
- Coded with precision in mind, this indicator works and has proven ability to excerpt profits from the market.
- A vast array of options are available.
- Can exist used by all traders, straight out of the box.
Room for improvement:
- This is an incredible indicator for technical analysts which includes a lot of advanced trading options that tin can overwhelm new traders. Caution is advised for novice analysts when using advanced tools such as this one.
Hull Moving Average Mount Histogram
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We like:
- Authentic and beginner-friendly for trend trading entries.
- Tried and tested Hull Moving Average formula.
- Works very well for swing trading using the Multi-timeframe style (our favorite is the 4-Hour MTF displayed on the 30M chart).
- Comes with advanced pricing options, custom widths, Averages types and entry lines for novices.
Room for comeback:
- Naught in item besides the fact that this is an frequently overlooked indicator which deserves more credit.
Composite RSI With Floating Levels
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Nosotros like:
- The Blended RSI is known as Mladen's favorite indicator.
- This version of the Composite RSI likewise includes Floating Levels.
- A strong indicator for contrarian traders who want to join in on new trends.
- Comes with 4 unlike Floating Level choices.
- Easy to spot trading opportunities.
Room for improvement:
- Novices should sympathize that this indicator should not exist used for Overbought and Oversold (OBOS) signals. This indicator'due south strength is in information technology's ability to read trend trading breakouts (when the oscillator's line breaks out of the Floating Levels).
RSI half-dozen Moving Averages Divergence
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Nosotros similar:
- This new and updated non-repainting RSI vi MA (Moving Average) is now regarded equally one of the all-time RSI Divergence indicators by Forex-station staff.
- Well-nigh RSI "Divergence" indicators brandish any and all Divergence signals, but this indicator is highly-selective of the Deviation signals it produces every bit it just generates a Deviation if the RSI MA is outside it'due south "Extreme" Overbought and Oversold zones.
- The Divergence signals on this RSI have a higher accurateness than regular RSI Divergence indicators.
- Where the standard RSI is mainly constructive on Monthly, Weekly and Daily charts, the RSI 6 MA works well on all timeframes.
- Can be customized with 4 RSI types including Cuttlers RSI, Wilders RSI, Standard RSI and RSX2 (Advanced RSX by Mladen).
- This is the perfect RSI indicator for Difference grooming and novice traders equally it only produces certain Divergences and removes insignificant Difference signals, allowing traders to focus on the signals that truly matter. It also gives space for traders to also report "Subconscious" Divergences which are oft overlooked but are very powerful for technical analysis and forecasting trend continuation.
- This indicator was a articulation project with input from our members. Originally requested by TEAMTRADER in 2019, due to it's intricacy, it was only recently materialized past Mrtools.
Room for comeback:
- Deviation signals can exist few and far between equally the indicator will only produce information technology'due south Divergence under sure conditions. For agile traders, this indicator volition not produce enough signals often plenty.
- Vertical Lines can be highly distracting.
- Can be visually confusing for newer traders. If you would like our "minimal" nautical chart template with only Classic Divergences, please employ our tweaked settings.
Fractals Automated Tendency Line drawing indicator
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We like:
- This is our favorite automatic tendency line drawing indicator for MT4. We chose this indicator over the industry standard TrueTL and the recent Automatic Trendlines Buttons.
- Out of the List of Meridian Iii "Auto" tendency line drawing indicators for MT4, this one stands out as it draws meaning and stiff tendency lines, earlier than the others. Nosotros recommend only using a Fractal period = 25 .
- Information technology's lightweight and easy to apply.
- It comes with Multi-timeframe style.
- It has Alerts.
- Out of the box, it draws both:
- Incomplete (currently in play) trendlines
- Completed (finished or broken) trendlines.
- This indicator not only doubles as an automatic trend lines drawing indicator simply also a learning tool for novice traders who are practicing how to describe wedges, channels, triangles and major tendency lines on their charts.
Room for improvement:
- The indicator also comes with a "Zig-Zag" type of Dots display for swing entries and exits, which can be distracting. You tin can turn them all off by choosing color equally "none" inside the "Colors" tab of the indicator'southward Options.
- The Multi-timeframe mode volition draw trend lines, but unfortunately they practice non adjust college timeframe trendlines to sit on top, or connect neatly to the lower timeframe'south wicks (or body). This will cause defoliation for novices. Nosotros highly recommended skipping the use of MTF on this detail indicator.
- It can be a sensitive indicator if settings are played with. Delight only use a Fractal period = 25 . These are the default settings.
Heiken Ashi RSI with Auto Divergences
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We similar:
- The best RSI indicator to use for trend trading, by far.
- Not only is this an RSI but an RSI that combines a unique Heiken Ashi that'due south inside the indicator'south subwindow, assuasive the RSI to be functional for tendency trading entries, scalping and counter-trend trading.
- It comes with RSI Automated Divergences for both Hidden & Archetype Deviation.
- It comes with Multi-timeframe style.
- It has Alerts.
- Information technology's a new concept and ane that allows this RSI to exist a existent, swiss-ground forces knife replacement indicator over all other "RSI" indicators.
Room for improvement:
- This indicator takes some time to get used to, but if you commit to it, it'll reward you with accuracy.
- Tin can be a little tricky to use if yous have both Hidden & Archetype Deviation showing. To proceed things simple, cull only one setting to display on your chart at a time, whether it be showing Classic Divergences only or showing Hidden Divergences just.
Last edited by Jimmy on Wed November 03, 2021 11:33 pm, edited 53 times in total.
Reason: New Heiken Ashi RSI indicator added to the list. Updated for November 2021 likewise as adding links to the latest versions of each lawmaking.
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