“Redrawing” is the indicator’s ability to change its values, based on the current market situation. Based on this, all indicators for both MT4 and MT5 are divided into two groups.
It is difficult to be a perfectionist and lazy-bones at the same time. Imagine how much you will be irritated by the apartment mess, which it is too lazy to clean!
|With Redrawing||Without Redrawing|
|Values are updated after the current candle closing, which is convenient to use in medium and long-term trading systems.||The values update rate depends on the activity in the market, which is well suited for intraday systems and scalping trade.|
Both groups of indicators have both weak and strong sides. Therefore, before choosing the indicator, think about whether it will be compatible with your vision of the market and the strategy chosen.
If your trade is concentrated in a medium-term or long-term strategy, you should pay attention to a relatively young indicator called TTL.
|Used for||Short signal||Long signal||Recommendations||Disadvantages|
|Determines the market’s strength and direction||Red histogram color||Green histogram color||TTL indicator is suitable for trading all currency pairs. Working timeframes: H1-D1.||False signals number increases during the flat. Solution: use other auxiliary indicators.|
TTL indicator is quite simple, so you do not need to change the default settings.
This is the way non-redrawing indicator looks like.
An example of histogram indications when having an uptrend.
Example of TTL indicator’s behavior when having a downtrend.
Why indicators don’t work always in the same way?
Any indicator is just a tool for the current market situation determination which has nothing common with upcoming events. Besides, indicators can:
- To be late
- Not work at all
Experienced traders understand this perfectly, make the appropriate conclusions and know they are responsible for the incorrect forecast. The market is too volatile, that’s why mistakes are inevitable.