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I find it curious how people ask for a repainting indicator to be re-posted without the repainting. Presumably they think that if a repainting indicator gives fantastically accurate signals -- picking tops and bottoms with amazing 'foresight' -- then a non-repainting version will be only marginally less valuable. Firstly, in some cases it's going to be an impossible task, if the repainting is part of the core calculation. And in other cases, it's the repainting that is the sole cause of the signals' seemingly fantastic accuracy. Remove the repainting and the indicator will lose its 'effectiveness' completely, and be reduced to the ranks of the also-rans (along with a zillion other indicators).
Perhaps it's a symptom of just how desperate people are to find the magic 'holy grail' indicator, one that will remove the uncertainty that's inherent in trading, and save them from the need to think through every situation for themselves. As a general rule, if an indicator seems to be able to pick tops and bottoms with amazing foresight, then it's almost certainly a repainter. No indicator can predict whether future buying volumes will exceed selling volumes at given levels (which ultimately determines if/how price will subsequently rise or fall).
Perhaps it's a symptom of just how desperate people are to find the magic 'holy grail' indicator, one that will remove the uncertainty that's inherent in trading, and save them from the need to think through every situation for themselves. As a general rule, if an indicator seems to be able to pick tops and bottoms with amazing foresight, then it's almost certainly a repainter. No indicator can predict whether future buying volumes will exceed selling volumes at given levels (which ultimately determines if/how price will subsequently rise or fall).
