Indicator Repaint?

Indicator Repainting

Indicator Repainting

In its simplest form, indicator repainting happens to all indicators which rely on the close price of a candle for their calculation. During live trading or forward testing, the close value of the current bar is constantly changing from as soon as the bar opens until the moment it closes. The final close price is not known until right at the end of the bar. This means that the indicator is constantly “repainting” during the bar. You will see that indicators are constantly moving with each tick received. Place an RSI on your chart and watch it move to see it in action. Since the indicator moves before the candle closes, it can lead to false signals. This is why you always wait for the candle close for confirmation of a signal and Kashikoi also has the option to select candle source type as 'close' or 'open'. Select 'open' if you wish to avoid false alerts triggered by wicks which do not close high/low enough to trigger the signal.

You will get a 'Warning' notification when creating the alert. This is because the indicator has the options to use custom timeframes and cannot be avoided with adding these custom options.

Does the indicator repaint?

The indicator will never repaint once the candle has closed for confirmation. By using the candle close source type the current price may fluctuate with the wick between a signal/alert and not which may trigger an alert. However, once the candle closes the final candle close price does not trigger an alert/signal on the chart so it is not shown. You can select the candle source type in the settings to avoid any false alerts. The advantage of leaving candle 'close' source type is that you can see the signal during the open candle if it is about to be printed and just wait for the candle close for confirmation, but that may trigger an alert and then the conditions were not met at the candle close so the signal was not printed. This is also why you should always check the charts to confirm, the advantage is also that you can know that the alert/signal is near being triggered. However, if you do not want to see the alert/signal during the current candle you can select the candle source type as 'open'.