Supertrend Trading

2 days ago

✨ Supertrend Trading by Mars ✨

This indicator is an extension to the popular Supertrend indicator, adding trading information (long only) and a built-in backtest feature that helps you find the best stocks to trade using the Supertrend strategy.

Core Features

• Clear entry signals (🟢) when trend turns bullish (with alert)
  
• Clear exit signals (🔴) when trend reverses or stop loss is hit (with alert)
  
• Built-in statistics table showing win rate, profit factor, and more
  
• Risk:Reward visualization with target levels
  
• Stop loss guidance with distance percentage
  
• Active trade tracking with current P/L
  

How It Works
This indicator uses standard Supertrend calculation (ATR-based) to determine trend direction, but adds entry and exit rules with visual markers:

Entry Rules:

• Enter long when Supertrend flips from bearish to bullish (red to green)
  
• Entry marked with green circle (🟢)
  

Exit Rules:

• Exit when Supertrend flips from bullish to bearish
  
• Exit when price touches/crosses below the Supertrend line during uptrend
  
• Exit when price gaps down below stop loss level
  
• Exit marked with red circle (🔴)
  

Finding The Best Stocks
The built-in statistics table helps identify which stocks work best with the Supertrend strategy:

• Look for win rates above 50%
  
• Target profit factors above 2.0
  
• Check for reasonable drawdowns (under 15-20%)
  
• Review the automatic performance rating (Strong ✨, Good ✅, Mixed 📋, Poor ⚠️)
  
• The ATR multiple used will significantly impact the trades performance, try 1.5, 2 or 3.
  

Risk Management Tools
The indicator provides multiple risk management features:

• Stop loss line with percentage distance
  
• R-multiple levels to visualize potential reward (1R, 2R, 3R)
  
• Maximum drawdown tracking
  
• Current position status with P/L percentage
  

Statistics Table
The backtest results display key metrics:

• Total trades and win rate
  
• Average win/loss percentages
  
• Profit factor (total gains divided by total losses)
  
• Maximum drawdown during trades
  
• Average days held per trade
  

Usage Tips

• Apply to multiple timeframes (daily/weekly recommended)
  
• Compare backtest results across different stocks/instruments
  
• Use R-multiple levels to set realistic profit targets
  
• The statistics table helps identify which market environments work best
  
• Default settings (10, 1.5) should work well for daily charts
  

This indicator provides a complete trading system based on Supertrend - from entry to exit, with performance tracking. The backtest feature lets you quickly test different stocks to find those that respond best to Supertrend strategy.

I welcome your feedback and suggestions!

2 days ago

Release Notes

included max_bars_back to prevent error

7 hours ago

Release Notes

Days -> Periods since this works on multiple time frames