OPEN-SOURCE SCRIPT
Supertrend Strategy
The **Supertrend Indicator** is a popular trading tool used to identify market trends and potential buy or sell signals. It overlays on price charts and is derived from the Average True Range (ATR). By adjusting its sensitivity through the ATR multiplier and period settings, traders can use it to capture trends effectively.
- **Buy Signal**: Generated when the price moves above the Supertrend line, turning it green.
- **Sell Signal**: Occurs when the price drops below the line, turning it red.
The Supertrend is particularly useful in trending markets but may produce false signals in choppy conditions. It is often combined with other indicators for confirmation.
- **Buy Signal**: Generated when the price moves above the Supertrend line, turning it green.
- **Sell Signal**: Occurs when the price drops below the line, turning it red.
The Supertrend is particularly useful in trending markets but may produce false signals in choppy conditions. It is often combined with other indicators for confirmation.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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