KivancOzbilgic

SuperTrend

SuperTrend is one of the most common ATR based trailing stop indicators.

In this version you can change the ATR calculation method from the settings. Default method is RMA, when the alternative method is SMA .


The indicator is easy to use and gives an accurate reading about an ongoing trend. It is constructed with two parameters, namely period and multiplier. The default values used while constructing a superindicator are 10 for average true range or trading period and three for its multiplier.

The average true range (ATR) plays an important role in 'Supertrend' as the indicator uses ATR to calculate its value. The ATR indicator signals the degree of price volatility .

The buy and sell signals are generated when the indicator starts plotting either on top of the closing price or below the closing price. A buy signal is generated when the ‘Supertrend’ closes above the price and a sell signal is generated when it closes below the closing price.

It also suggests that the trend is shifting from descending mode to ascending mode. Contrary to this, when a ‘Supertrend’ closes above the price, it generates a sell signal as the colour of the indicator changes into red.

A ‘Supertrend’ indicator can be used on equities, futures or forex, or even crypto markets and also on daily, weekly and hourly charts as well, but generally, it fails in a sideways-moving market.
Release Notes: source function added to use the indicator as the ATR Trailing Stop indicator.
Just change source type hl2 to close.
different variations might be useful.
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Comments

Hello @KivancOzbilgic , great work and thanks for sharing. Can you create strategy version so we can backtest the results ? all the best to you
+105 Reply
MarxBabu hannajhajjar
@hannajhajjar, great work
+6 Reply
@KivancOzbilgic Hi. I'm new on the trading business. This indicator looks nice. How can I start using it. Like where is the option to add this indicator?
Thank you in advance.
+81 Reply
hocam bizde kullanabilir miyiz ?
+45 Reply
KivancOzbilgic ozanyarkatas
@ozanyarkatas, kullanın açık paylaşıldı

Favorilerinize alırsanız aramada çıkar, almadığınız için görmüyorsunuzdur
+35 Reply
nihatdogan58 KivancOzbilgic
@KivancOzbilgic, favorilere aldım yine çıkmadı hocam
+15 Reply
ozanyarkatas KivancOzbilgic
@KivancOzbilgic, hocam matrix kodları var mı ?
+2 Reply
ozanyarkatas KivancOzbilgic
@KivancOzbilgic, hocam matrix icin kodlari var mi
+1 Reply
Aysgn2901 KivancOzbilgic
@KivancOzbilgic, kovana hocam Nasıl alıyoruz ben alamadımda
+9 Reply
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