This indicator draws arrows when it catches highs and lows of the trend. And as the name says it should be a non repainting indicator. There are no inputs that can be changed to modify the sensitivity of the indicator. It only has a feature to turn on/off the sound alert when the arrow appears. This is definitely a useful thing.
In the ranging markets you may use Marvin non repaint indicator as an entry signal: buy when the green arrow appears below the price line, sell when the red arrow appears above the price line.
However if there is a strong trend, the indicator is very good at choosing exit/take profit points. You may close buy position when the red arrow appears and close sell position when you see a green arrow.
Features of Marvin non repaint indicator
- Platform: Metatrader 4
- Timeframe: any from M1 to MN
- Currency pairs: any
In MARVIN-NON-REPAINT.zip file you will find:
- MARVIN NON-REPAINT.ex4
Download Marvin non repaint indicator for free: