What are repainters?
https://usethinkscript.com/threads/answers-to-commonly-asked-questions.6006/#post-57833
Most repainters are utilized incorrectly by new traders.
Repainters are never used for entry.
Repainting Studies Provide Critical Information:
For scalpers and daytraders:
The repainting future bars are key to the power of their strategies.
Future bars wait for confirmation that the bearish trend is over. A bull trend is established.
At that point, future bars scripts repaint back to where the trend started many bars ago.
Future bars work for swing traders because a well-established trend that started many bars ago on their middle timeframe is key to a good basic swing strategy that is trading strong long-term uptrending stocks.
Here is an example of a future bars indicator by the amazing @mashume:
The Hull Turning Point Indicator: https://usethinkscript.com/threads/...ng-points-and-concavity-2nd-derivatives.1803/
Important: Future bars are not recommended for daytrading or scalping. Given that, they wait until the condition is well-established. Future bars miss part or all of the great momentum start that is key to daytrading/scalping profits.
Future bars work for swingers because while they miss out on that initial price surge. Future bars identify the overall trend which swingers can then ride, over the length of the run, on their long-term charts.
While research shows that Buy & Hold is the most profitable type of stock trading; these type of swing trade strategies come in second; with the most reward and the least risk of all market strategies.
https://usethinkscript.com/threads/answers-to-commonly-asked-questions.6006/#post-57833
Most repainters are utilized incorrectly by new traders.
Repainters are never used for entry.
Repainting Studies Provide Critical Information:
For scalpers and daytraders:
Zigzags, reversals, and the other lowest low-type repainters are the fastest tool for identifying trends.
The importance of the repainters is that they alert to stocks which enter into a potential reversal zone.
Scalpers and Reversion Traders successfully trade potential reversals:By applying price action tools https://usethinkscript.com/threads/price-action-toolbox-for-thinkorswim.10747/ to review the potential reversal identified by the repainter.
This is an important means to getting in at the beginning of trends.
Why is getting in at the beginning of trends important?The greatest momentum / profit can be found toward the beginnings of trend which is why the repainters are crucial.
Profitable daytraders, will apply repainters to the highest of their three timeframes, to view and verify trend and combine them with a good basic strategy.
But scalpers have a tough road. The micro-trends identified on aggregations of 5min and less can turn out to be just noise and do not pan out.Experienced scalpers hone their skills to further identify the candlestick patterns that indicate the next bar will likely be higher. Scalpers are only in for a few ticks so don't care if the trend pans out or gets repainted.
Minimize the whipsaws and double-bottoms by reviewing all three timeframes.
For Swing Traders,The repainting future bars are key to the power of their strategies.
Future bars wait for confirmation that the bearish trend is over. A bull trend is established.
At that point, future bars scripts repaint back to where the trend started many bars ago.
Future bars work for swing traders because a well-established trend that started many bars ago on their middle timeframe is key to a good basic swing strategy that is trading strong long-term uptrending stocks.
Here is an example of a future bars indicator by the amazing @mashume:
The Hull Turning Point Indicator: https://usethinkscript.com/threads/...ng-points-and-concavity-2nd-derivatives.1803/
Important: Future bars are not recommended for daytrading or scalping. Given that, they wait until the condition is well-established. Future bars miss part or all of the great momentum start that is key to daytrading/scalping profits.
Future bars work for swingers because while they miss out on that initial price surge. Future bars identify the overall trend which swingers can then ride, over the length of the run, on their long-term charts.
While research shows that Buy & Hold is the most profitable type of stock trading; these type of swing trade strategies come in second; with the most reward and the least risk of all market strategies.
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