- Supertrend Indicator Tradingview
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- Supertrend Indicator Atr
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Supertrend With Complete Collection Of Supporting Indicators. SampleCCIColored Indicator NT7 17 downloads April 26, 2021. SuperTrend is the best technical indicator to trade in the stock market? You can use the ST with a stock screener on many trading platforms to check the trend direction. Also, you can use this indicator for trailing stop loss using the ATR. 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.
Supertrend Indicator: Generates Clear and Simple Trend Trading Signals
The SuperTrend U11 is a stop and reverse (SAR) indicator that trails price action. The trailing stop adjusts to both trading prices and volatility. When volatility is high, the trailing stop is further away from prices. Conversely, when volatility is low, the trailing stop will move closer to prices. The Supertrend indicator can also be used for multiple time-frames. Some traders recommend using the 15-minute time interval chart as the minimum, while it also works on a 15-second chart if the signals are generated automatically. Supertrend Indicator: Conclusion. Supertrend indicator provides mostly accurate signals in trending markets.
As the name suggests, the Supertrend indicator, like moving averages and MACD, is an indicator for trend tracking. Supertrend indicator is determined by price, and its values determine the current trend.
It is easy to use and gives an accurate idea of the current trend. This tool can be used on futures, Forex, and stocks.
It should also be noted that this Forex indicator can determine support and resistance levels.
Supertrend indicator is a very good tool for studying current market trends. It clearly describes the difference between downtrend and uptrend.
The formula for calculating Supertrend is as follows:
- SuperTrend Superior = (higher + lower) / 2 + m * ATR (n)
- SuperTrend Lower = (higher + lower) / 2 - m * ATR (n)
Where:
- n is the number of ATR billing periods.
- m is the volatility factor measured by ATR.
Thus, ATR occupies a key place in the Supertrend indicator formula.
Indicator setting
Supertrend is built on the basis of two parameters. The default values used for the Supertrend indicator are 10 for the Number_of_Periods parameter and 3 for the Multiplier parameter.
Supertrend indicator parameters are usually adjusted depending on the volatility of the asset being traded. If the asset is more volatile, you can increase the default values, and if the asset is not volatile, you can decrease the default values.
You can reduce the multiplier parameter if you need the Supertrend indicator to respond faster to price changes, but in this case, it can create quite a lot of false signals. Typically, the default settings are better than other values.
Supertrend Indicator Tradingview
The Supertrend curve is superimposed on the price chart, and when the indicator falls below the closing price, it generates a buy signal, then the indicator color turns green. This also suggests that the trend is changing from downward to upward.
Conversely, when Supertrend closes above the price, it generates a sell signal, then the indicator color turns red. This suggests that the trend is changing from bullish to bearish.
The Supertrend indicator, in particular, acts as a level of support or resistance. After a buy signal, any decline in the indicator curve can also be interpreted as a buy signal, and vice versa.
Supertrend gives traders clear and easy to read signals. This trading tool can be used on stocks, futures, or currencies, as well as on daily, weekly, and hourly charts.
It works much better in a trending market but can give false signals when the market moves sideways. We recommend using this indicator in conjunction with other tools when building your trading strategies to more accurately identify trends.
You can find some of the trading strategies based on the Supertrend indicator on our website in the Strategies section.
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Supertrend Indicator Code
Do you need help with installing this indicator into MT4 for Windows or Mac OS? Our guide HERE will help you.