Will Parabolic SAR repaint?

Beginner Questions
1

I am a newbie and interested in this indicator as it gives excellent signal MTF and it is build-in in MT4 platform
But when it is used on live trading, will it repaint?
As I heard some traders said to avoid this indicator while others said it won’t repaint once the candle is formed
What’s your opinion?

Is there any Non-repainting PSAR indicator available for download?

Also when I was giving some visual backtesting on previous data, I found that PSAR sits at perfect spot, will live trade be that perfect?

Thanks!

br,
anderson

2

Maybe I’m misunderstanding the concept, but it either repaints mid candle, or it paints wrong and stays wrong.

3

I am not sure what you are looking for but here is an image that may help you:
A PSAR dot can move from down to up and vice-versa when a new candle appears. That will happen every time a closing candle went under a down-dot, or above an up-dot.

RP.jpg700×338 47.7 KB

4

So i may consider it as a lagging indicator right?

But base on what indicator will you guys judge the start/termination/strength of a trend?

5

As far as I know, ALL indicators are lagging (with the exception of some of the lines in ichimoku)

6

There is no perfect indicator. PSAR is a lagging indicator, it is placed with the trend following indicators in MT4. That means it will work on extended trends, but will give losses in ranging markets.
To me it looks like it is a good indicator to build trailing stops.

I kinda stopped using indicators, to determine trend I do tech analysis looking at HH/HL/LH/LL, looking if support/resistance/trendlines were broken or holded.

7

unfortunately it is not re-paint. may be you are surprised by my answer, but opposite to the other indicators, in which re-paint is a bad feature. it is good to have psar re-paint, such thing not in psar indicator, but it is good if someone modify the indicator for that.