Custom Supertrend Multi-Timeframe Indicator [Pineify]

Introduction
The Supertrend Multi-Timeframe Indicator is an advanced trading tool designed to help traders identify trend directions and potential buy/sell signals by combining Supertrend indicators from multiple timeframes. This script is original in its approach to integrating Supertrend calculations across different timeframes, providing a more comprehensive view of market trends.
Concepts and Calculations
The indicator utilizes the Supertrend algorithm, which is based on the Average True Range (ATR). The Supertrend is a popular tool for trend-following strategies, and this script enhances its capabilities by incorporating data from a larger timeframe.
- Supertrend Factor: Determines the sensitivity of the Supertrend line.
- ATR Length: Defines the period for calculating the Average True Range.
- Larger Supertrend Factor and ATR Length: Applied to the larger timeframe for a broader trend perspective.
- Larger Timeframe: The higher timeframe from which the secondary Supertrend data is sourced.
How It Works
- The script calculates the Supertrend for the current timeframe using the specified factor and ATR length.
- Simultaneously, it requests Supertrend data from a larger timeframe.
- Buy and sell signals are generated based on crossovers and crossunders of the Supertrend lines from both timeframes.
- Visual cues (up and down arrows) are plotted on the chart to indicate buy and sell signals.
- Background colors change to reflect the trend direction: green for an uptrend and red for a downtrend.
Usage
- Add the indicator to your TradingView chart.
- Customize the Supertrend factors, ATR lengths, and larger timeframe according to your trading strategy.
- Enable or disable buy and sell alerts as needed.
- Monitor the chart for visual signals and background color changes to make informed trading decisions.
Note: The indicator is best used in conjunction with other technical analysis tools and should not be relied upon as the sole basis for trading decisions.
Conclusion
The Supertrend Multi-Timeframe Indicator offers a unique and powerful way to analyze market trends by leveraging the strengths of the Supertrend algorithm across multiple timeframes. Its customizable settings and clear visual signals make it a valuable addition to any trader's toolkit.
Script open-source
In pieno spirito TradingView, il creatore di questo script lo ha reso open-source, in modo che i trader possano esaminarlo e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricorda che la ripubblicazione del codice è soggetta al nostro Regolamento.
Per un accesso rapido a un grafico, aggiungi questo script ai tuoi preferiti: per saperne di più clicca qui.
💰 $99, Pay once, own it forever, Lifetime access.
💬 Join our community: discord.gg/kwTc28Wuw5
📚 My Blog: pineify.app/resources/blog
Declinazione di responsabilità
Script open-source
In pieno spirito TradingView, il creatore di questo script lo ha reso open-source, in modo che i trader possano esaminarlo e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricorda che la ripubblicazione del codice è soggetta al nostro Regolamento.
Per un accesso rapido a un grafico, aggiungi questo script ai tuoi preferiti: per saperne di più clicca qui.
💰 $99, Pay once, own it forever, Lifetime access.
💬 Join our community: discord.gg/kwTc28Wuw5
📚 My Blog: pineify.app/resources/blog