Custom Wordpress loop with pagination

wp-custom-paginated-loop.php

<?php 
/**
 * Create post loop query
 */
$paged = ( get_query_var('paged') ) ? get_query_var('paged') : 1;
$args = array(
		'post_type'              => 'post',
		'orderby'                => 'menu_order',
		'order'                  => 'ASC',
		'showposts'              => 3,
		'no_rows_found'          => true,
		'update_post_meta_cache' => false,
		'update_post_term_cache' => false,
		'paged' => $paged
	);
$custom_loop = new WP_Query($args);
?>

<?php while ( $custom_loop->have_posts() ) : $custom_loop->the_post(); ?>
	<?php //
<?php endwhile; // End of the loop. ?>
<?php if ($custom_loop->max_num_pages > 1) { // check if the max number of pages is greater than 1  ?>
	<nav class="prev-next-posts">
		<div class="prev-posts-link">
			<?php echo get_next_posts_link( 'Older Articles', $custom_loop->max_num_pages ); // display older posts link ?>
		</div>
		<div class="next-posts-link">
			<?php echo get_previous_posts_link( 'Newer Articles' ); // display newer posts link ?>
		</div>
	</nav>
<?php } ?>
<?php wp_reset_postdata(); ?>