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OPEN-SOURCE SCRIPT

SuperTrend

By everget
Wizard
Updated
This is a redesign of the SuperTrend indicator. It removes stupid transitions between SuperTrend states and highlights initial points for both lines.

SuperTrend is a moving stop and reversal line based on the volatility (ATR).
Release Notes
  • Modified initial algorithm
Release Notes
  • Added Buy/Sell alerts
  • Added Buy/Sell labels
Release Notes
  • Fix erratum
Release Notes
  • Converted to Pine V4
  • Added an option to take candle wicks into account


From now, with checked "Take Wicks into Account" option the SuperTrend will respond more clearly than default one:
snapshot
Release Notes
  • Added long/short state highlighting
Release Notes
  • Update
Release Notes
  • Fixed bug with 4-price Doji candles
atrstopAverage True Range (ATR)movingstoplossstopsupertrendtrailingtrailingstoptrailingstoplosstrendTrend AnalysisVolatility

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.

Want to use this script on a chart?

everget
Wizard
Freelance -> Telegram: @alex_everget

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