If we know how and where to use this indicator, you are sure about getting very good trade.
It ensures 1. Low risk 2. High returns and at times real big trend
So how to use it?
1. Prefer larger time frame to avoid noise. I use weekly. 2. Once super trend is green wait for pullback towards super-trend. 3. When supertrend acts as support/resistance and price reverses from nr super trend make entry. (I would wait for break of earlier week high nr super trend) 4. SL is close below super trend. (weekly close for weekly chart) 5. Try to exit far from super-trend to book profit. (Target around 15% possible on weekly)
Opposite is true for shorting in down trend....!
All these charts are from Nifty50 stocks
Note: I am re-publishing this post as earlier post was on Nestleindia which got split and chart is not getting updated.
Thank you for your valuable contribution to the TradingView community and keep up the good work!
patilbh
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intraday for option stock
rvece09
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what are settings
yndesai
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@rvece09, I prefer default settings (10, 3) as this is what is appearing on everyone's chart and their combine action makes it more effective.
rvece09
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ok thanks!!
Kotha_Rao
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Thanks a lot.
8b31ab0b1bdc4729bf6a04aca45174
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Indicators move after price move, charts created after price move, only the big guys move prices, so if you want to win ,better study big guys next move….mind reading..
yndesai
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@8b31ab0b1bdc4729bf6a04aca45174, Thanks for reply. There is no scientific method of mind reading and guessing next move. They are big guys and they know how to create smoke around their actions. By reading news, annual reports or social media trends you are reading what big guys wants you to read. My approach: Big guys can not buy or sell any stock in one go. They have to make multiple instalments (Tranches) over weeks. As a retail traders we need to identify their first few installments. These can be seen by price movements and is captured by various indicators in different ways. Retail investor need to practice one method of identifying this initial movement.
I stopped using news or annual reports for my trading and investment decisions.
Thank you for your valuable contribution to the TradingView community and keep up the good work!