Ultimate Triple Supertrend Strategy [PrismBot] [Lite]Initial Release on Prism Core 1.7.r493
Included in this Ultimate Supertrend Lite Strategy:
✔️ Tweak a multitude of specific settings (MA lengths, R:R, SL distance etc)
✔️ Enable advanced setup filters
✔️ Use money management and risk calculations
✔️ Draw trade info directly to chart (eg. SL size in percent, win rate etc)
✔️ Use various filters (eg. time filter, date filter, MA slope angle etc)
✔️ Manage risk per position when auto-trading forex through AutoView
✔️ Choose from various alert conditions!
✔️ Sync to any bot or algorithmic trading system
Some details about this strategy:
This strategy is a triple Supertrend strategy that includes multi-timeframe analysis built-in to the supertrend function. You also have a multitude of strategies to choose from, such as the newest addition to Prism Core - Stochastic. Our stochastic strategies includes Standard / Strict Standard which buys when overbought and sells when oversold, and a couple of %K cross strategies as well.
There are also many other filters such as RSI, ADX, and more, as well as built-in DCA (dollar cost averaging), position sizing, take profit and stoplosses, and so much more.
Supertrend
Triple Supertrend + Stoch RSI + 200 EMA by @DaviddTechInspired by YouTube (again) I decided to backtest this strategy.
Here is my Triple Supertrend + Stoch RSI + 200 EMA v0.1 --
The Strategy :
Uses the 3 supertrends.
200 EMA
Stoch RSI
-- LONG --
* When over 200 ema and a Stoch RSI Cross happens below the oversold 20 then we wait for the 2 or 3 Supertrends to pass to green.
-- SHORT --
* When under 200 ema and a Stoch RSI Cross happens above the overbrought 80 then we wait for the 2 or 3 Supertrends to pass to red.
NOTES :
This was proven to be much better on manually backtesting. So, if you do spot a problem please DM me.
WARNING:
- For purpose educate only - My mission is to debunk fake strategies with code to find THE ONE.
- Plots EMAs and other values on chart.
- This script to change bars colors.
SuperTrend - Custom Screener and Dynamic AlertsTrading View today published a desktop Bad Internet connection indicator ?! which set me thinking…
Despite recently introduced Dynamic Alerts many scripts do not leverage the information available for active traders and traders on the GO!
So decided to share this script totally ALERT focused on one of the most popular DAY trading indicators.
Of course no more BAD internet problem as long your TV APP is configured , you will have enough data for a mental picture of the chart..
The Alerts give you the BAR Close , %percent gain or loss over previous day CLOSE ++ Previous Day High and Low to effectively plan your trade without a chart!(just in case)
2 additions in the way Alerts are delivered over the last script :
1. You get SUMMARY alerts or concatenated alerts by default , however if you uncomment or activate code lines 48 and 55 you will get individual Stock alerts Too!
2. Summary Alerts will come only if there is some Buy or Sell signal NO more empty Alerts!
Few useful EXTRAS in the code :
1. Flexible code can convert any indicator to screener or Alert function.
2. You will NOT get Mutable Variable error while converting any indicator to screener as long as the function is in "GLOBAL" scope..
3. Many Custom Screeners are available but few give OHLC data in output so easily…and very difficult for traders to MODIFY hundreds of lines of code..
4. For UP or DOWN on SCREEN Stock monitoring copy /paste functions in line 41 and 42 in lieu of CROSS functions in 44 and 51 respectively..
5. You can also uncomment/activate lines 66 and 67 for labels in monitoring.
6. The default mode of the scripts is set to Alerts!
Max Stocks only 20!
Finally idea is to help traders to use the great features that TV works so hard to create and constantly improvise.
Enjoy Profitable Trading on the Fly !!
PMax on Rsi w/T3 *Strategy*Profit Maximizer Indicator on RSI with Tillson T3 Moving Average:
PMax uses ATR calculation inside, for this reason users couldn't manage to use PMax on RSI because RSI indicator doesn't have High and Low values in bars, but ATR needs that values. So I personally calculate RSI in a different way to have High and Low values of RSI wrt price bars.
IMPORTANT:
Because of the sudden movements and divergences on RSI , this indicator must firstly optimized for the charts before using. Optimization can be held by users for the meaningful parameters for each chart.
3 parameters are critical when optimizing:
First: Multiplier
Second: Tillson T3 Length
Third: T3 Volume Factor
Says, Kıvanç Özbilgiç. Here's the strategy version for you to backtest & optimize properly.
Enjoy.
Supertrend - IntradaySupertrend Intraday Strategy
Basic supertrend strategy purpose built for intraday trading. Users can define intraday session during which the strategy will run.
Position is reversed when signal changes by using double quantity. Once the intraday session is over & if the position is open; it is squared off.
Parameters:
Intraday Session - Defines the duration for which the strategy should execute.
Multiplier
ATR Period
Tripple super Trend + EMA + RSI StrategyGreetings!
Here I show you the Tripple Super Trend Strategy.
I discovered the strategy on a YouTube channel and tried to transfer it as a strategy into a script.
Tested with the currency pair EUR/USD in the one hour chart.
Period: beginning of 2020 until today.
The strategy should also work with cryptocurrencies. But then the settings have to be adjusted.
There is the possibility to activate only long or only short position.
The EMA can be used in a time different from the chart.
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How does the strategy work?
For long positions, the candle must be above the EMA .
The candle must be closed above at least two of the supertrend lines.
The stochastic RSI must show oversold and the k line must cross over the D line.
For short positions, the candle must be below the EMA .
The candle must be closed below at least two of the supertrend lines.
The stochastic RSI must indicate overbought and the K line must cross below the D line.
The stop loss is determined with the "lowest low/highest high lookback".
The profit factor is multiplied by the value of the lowest low/highest high lookback.
The results of the strategy are without commissions and levers.
If you have any questions or feedback, please let me know in the comments.
In the future I will add other types of stop loss / take profits. (ATR; %; eg.)
If you need more information about the strategy and want to know exactly how to apply it, check out my profile.
I wish you good luck with the strategy!
Multi Supertrend with no-repaint HTF option strategyThis is the strategy version of the multi supertrend indicator.
The RoMDD looks good :)
Checked in ETHUSDT 1hour with auto HTF ON.
Have a look :)
Momentum Trading Strategy (Weekly Chart)The strategy will open position when there is momentum in the stock
The strategy will ride up your stop loss based on the super trend.
The strategy will close your operation when the market price crossed the stop loss.
The strategy will close operation when the line based on the volatility will crossed
3x SuperTrend Strategy (Mel0nTek) V1This is a triple SuperTrend based strategy for lower time frame trades such as day trades and scalping. I have not seen many strategies that combine multiple SuperTrends so I thought I would publish this one since I put it together and have been quite happy with the results. I have found through testing that the best results are on currency exchange markets such as Crypto or Forex on 1-15 min time frames.
The core idea was inspired by a youtube video put out by Trade Pro:
"Trade Pro - HIGHEST PROFIT Triple Supertrend Trading Strategy Proven 100 Trade Results"
I went ahead and set the defaults to the ones he uses in his video for anyone who wants to try a configuration similar to his. They work pretty well in general, however the EMA, SuperTrend ATR multipliers, and P/L ratio can be tuned/optimized to fit the timeframe/market desired. The video is quite good but not a required watch as I will explain below.
The 200EMA is used as a medium-term trend direction indicator.
- Price closing consistently above the 200EMA means that only long positions should be entered.
- Price closing consistently below 200EMA means that only short positions should be entered.
The 3 SuperTrend indicators should be used as direction confirmation for entries. Typically, price above SuperTrend indicates bullish movement, while price below SuperTrend indicates Bearish movement. However by itself, it is not a great indication to enter/exit positions in my experience. By combining 3 of them with slightly longer periods and increased ATR multipliers, we can get much stronger confirmation of trend direction/strength.
The way they are used in this strategy is such that:
- We only want to enter a position if at least 2 out of 3 SuperTrends are on our side.
- 3/3 SuperTrends on our side is the best case, since we are taking trades WITH momentum/price strength.
- The second farthest SuperTrend from entry price is used as a Stop Loss
SuperTrend being on our side is not the only requirement for an entry however. The probability of success is increased with SuperTrend, and a longer EMA on our side, but we want to be sure that we aren't getting in too late/after the movement has already happened.
So we use Stoch RSI to pick our entries where price is oversold/overbought and reversing. That means the Stoch RSI is above 80, or below 20, and our indication to enter the trade is when the 2 lines cross/begin reversing direction.
So with trend direction on our side, we can get really good entries at these oversold/overbought extremes, especially as it's reversing (Stoch RSI K and D are crossing). This allows us to use the SuperTrend as a support/stop loss on our entry since price should be above it.
Then we just target 1.5x our max loss so that even if we only win 50% of the time, we still make a profit.
The explicit rules of this strategy are as follows:
=== Rules ===
long only
- price above EMA200
short only
- price below EMA200
Stop Loss = 2nd SuperTrend line above (short) or below(long) entry candle
Profit = 1.5x SL/risk (Profit Ratio x Max Loss)
=== Entry Setup ===
LONG
- Stoch RSI below 20, cross up
- at least 2 SuperTrend lines below close
SHORT
- Stoch RSI above 80, cross down
- at least 2 SuperTrend lines above close
P.S. Special thanks to Trade Pro for producing so many quality videos, putting strategy claims to the test, and providing me with so many good ideas I apply to my own strategies.
SMT V11 BY Stock_InshotsHello , i Combined 3 Indicators to generate buy /sell signal
1) Super Trend
2) Simple Moving Average
3) Williams Fractal Indicator.
I thank Trading View to keep all these indicators source code open so i was able to combine and customized as per requirement.
In settings one may change use different period of super trend as well Sma
This works best on 10 min chart.
Buy Setup : after buy signal one can wait for fractal confirmation below the candle and place order above High of that candle with buffer of 0.01% in LTP
or one can place order near to Sma 50 as after Signal as it will come to retest . Reversal Strategy for good Risk Reward Ratio
Sell Setup : After Sell Signal one can wait for fractal Confirmation below the candle and place the order below the low of the candle with buffer of 0.01% in LTP
Note : It may not give good results on Forex better do your on research with different Periods on different time frames
I am not SEBi Registered to advice on your investment. Consult your Financial Advisor before investing on any idea
Please give feedback for Modification/ Suggestions are most welcome.
Thank you trading view a great platform. i am publishing this in protected mode as some ,copy and start selling these type of indicator by invite-only links. i wish to help retailers.
Refer chart for understanding of buy/sell setup
SCALPER supertrend with entry exit points by MPRnew scalper more mulish , entry and exit points long term plus cloud for early entry points and minimize the bad entries.
also almost everything is easy to change value long MA short MAs etc
to adjust it to your strategy or short term change input values depending on what u want
bar colors for easy indication, change depending on th einput of the first 2 moving averages on the chart
let me know how it works, so far i personally like it hehe
right now is for long entries
like if you like it
Happy Trading
RSMI have published that script not like oscillator, which in fact it is, because tradingview doesn't support dual plots in overlay=true and overlay=false. So I have decided that to show filter is better idea. Yes, it decrease potential profit on long term, but for me personally, it is much better to understand the direction of the market movement and take potential trades more seriously. Also about this script: in general based on RSI and works pretty nice on 1H timeframe. Yes, theoretically it can work on both 4H and 1D timeframes, but for this you need to change the settings that are not displayed in the inputs (I did not add them, due to the fact that they can be confusing, because I decided to add a filter). And about filter - it is one of the variations of the SuperTrend. According to House Rules, I cannot insert links here, but only if you are interested in trying this work in auto trading, you can follow the link (located even lower) and find there an algorithm with the same name.
Buy The Retrace backtest strategyA trend-following strategy entering pullbacks
Simple but efficient
Mostly used it on 1 min chart but it works extremely well on 5 min as well.
The components of the strategy:
-MTF ATR based Trend
-Fib based cloud to help determine the trend - Caution when trend and cloud shows a different trend - a reversal may be possible.
-Optional values for the signals -how often you would like to get one- can be changed based on - the current close relative to the close-only high-low range over a given period of time.
-3x take profit levels
- all adjustable in %
- take profit quantities adjustable in % for each level
-paints a line where your average position is
-labels the current position size
Be careful where the cloud is broken, a reversal may happen.
Be careful longing / shorting the same levels which acted as a support/resistance before - this is why the win ratio is around 80% only as a small percentage gets stopped out usually.
Would like to get access? Pm me I'll grant it.
MA Candles Supertrend StrategySimple strategy which is derived by below method:
1. Calculate moving average of High, Low, Open and Close and make candles of them.
2. Derive supertrend on the moving average candles.
3. Generate buy and sell signals based on supertrend direction combined with higher timeframe high-low condition
HEINKI ASHI SUPERTRENDHi friends....publishing Heikin ashi supertrend strategy... which shows the movement of price over time and how strong those movements are/will be, regardless of the direction the price moves, up, or down. Indicator specifically useful, as it helps traders and analysts spot points where the market can and will reverse by providing signals long (buy) and short (sell). Show the relative strength of price movements but leave out the directionality of the price movements, best utilized in combination with other technical indicators – such as trend lines and moving averages – which show price trends and directions. Having an alert feature to make aware market players from signals provided by strategy.
HA charts are a great way to help those who can be spooked by the chaos of the markets (I'm one!), but they have a big drawback in that the price you see on a HA candle is often significantly different from the real price that you would trade on. This brings issues of unrealistic expectations of profits/losses, and also makes back testing a strategy very difficult. I still wouldn't recommend ever using TradingView's "strategy" tool when using HA charts, but using this indicator you can do accurate back tests.
***************This uses Heikin Ashi Candles as source on normal chart..dont use it on heikin ashi chart*****************************
There is an option for use normal japanes candle supertrend..so we can compare how this heikin ashi prevent false trades.
some tips for new traders to become successful trader
1: always follow risk management...
2: every stock/ forex / crypto has it own cycle.. So pls dont jump from one stock / forex pair to another when u hear some stock / crypto has
made new high or low... Bcs after that consolidation period starts.. During consolidation we can not make more profit as in trending market.. So be patient when u had made some position or tarde in one stock/ pair...
3 : we dont require to trade in every stocks / forex/crypto.. Just one stock and pair trading daily make u profitable beyond ur expection.. Bcs
trading in one stock / forex pair.. make u very comfortable and u may always know its movement... And u also trade in every cycle of this
stock/ pair.. So u also trdae its trend days which made highest profit. We dont know when is trend of any stock... Compare with it
business... Trading is business not one day rich game... Its business... It takes time and u have to do same thing agian and again to become
sucessfull trader for this u can use tradingview alerts. .for that u dont need to seat infrot of ur terminal screen.. u can also do algo trading
by using tradingview alerts
4 : By following risk management and incerase lot size as profit increased... This is the key 🔑 of sucess in stocks / forex / crypto market.
I thinks this tips may help new trader. U can modified according to ur trading style..
You can personal message me if u want to use this strategy
******************if u want to use this indicator u can personal message me********************************************************
Profit MAX MTF HeatMapThis is a powerfull strategy which is made from combining 3 multi timeframes into one for profit max indicator
In this case we have daily, weekly and montly.
Our long conditions are the next ones :
if we have an uptrend on all 3 at the same time, we go long.
If we have a downtrend on all 3 of them at the same time we go short.
For exit, for long, as soon as one of the 3 converts into downtrend we exit the trade.
For exit, for short, as soon as one of the 3 converts into uptrend we exit the trade.
This tool can be used on all types of markets, and can also be changed the time frames.
Swing Algo For Allhi friends....publishing Swing Algo For All .. which shows the movement of price over time and how strong those movements are/will be, regardless of the direction the price moves, up, or down. Indicator specifically useful, as it helps traders and analysts spot points where the market can and will reverse by providing signals long (buy) and short (sell). Show the relative strength of price movements but leave out the directionality of the price movements, best utilized in combination with other technical indicators – such as trend lines and moving averages – which show price trends and directions. Having an alert feature to make aware market players from signals provided by the strategy.
There are mainly 3 tyes of swing traders
1 intraday swing trader
2 weekly positional swing trader
3 monthly/yearly positional swing trader
This strategy solves problem of all the type of swing trader. you have to just select type of swing which u want to trade suppose u chose intraday swing it automatically calculate intraday swing high and low and shows buy and sell sign according to it...if it shows buy signal than in lower part it shows plotted line when this line break it automatically generate sell signal and vice versa for sell signal.
same for weekly , monthly and yearly
u can use it in any time frame bcs swing structure are same in any time frame
*********************************************************************************************************
*************** And also use for any stocks, forex and crypto*****************
screenshot on Banknifty weekly swing
some tips for new traders to become successful trader
1: always follow risk management...
2: every stock/ forex / crypto has it own cycle.. So pls dont jump from one stock / forex pair to another when u hear some stock / crypto has
made new high or low... Bcs after that consolidation period starts.. During consolidation we can not make more profit as in trending market.. So be patient when u had made some position or tarde in one stock/ pair...
3 : we dont require to trade in every stocks / forex/crypto.. Just one stock and pair trading daily make u profitable beyond ur expection.. Bcs
trading in one stock / forex pair.. make u very comfortable and u may always know its movement... And u also trade in every cycle of this
stock/ pair.. So u also trdae its trend days which made highest profit. We dont know when is trend of any stock... Compare with it
business... Trading is business not one day rich game... Its business... It takes time and u have to do same thing agian and again to become
sucessfull trader for this u can use tradingview alerts. .for that u dont need to seat infrot of ur terminal screen.. u can also do algo trading
by using tradingview alerts
4 : By following risk management and incerase lot size as profit increased... This is the key 🔑 of sucess in stocks / forex / crypto market.
I thinks this tips may help new trader. U can modified according to ur trading style..
You can personal message me if u want to use this strategy
u can personal message me if u want to use it..
Profit Maximizer StrategyFirst I would like to thank to @KivancOzbilgic for developing this indicator.
All the credit goes to him.
I just created a strategy, in order to try to find the perfect parameters, timeframe and currency for it.
I will provide below the same description like he has in the publish of profit maximizer
Profit Maximizer - PMax combines the powerful sides of MOST (Moving Average Trend Changer) and SuperTrend (ATR price detection) in one indicator.
Backtest and optimization results of PMax are far better when compared to its ancestors MOST and SuperTrend. It reduces the number of false signals in sideways and give more reliable trade signals.
PMax is easy to determine the trend and can be used in any type of markets and instruments. It does not repaint.
The first parameter in the PMax indicator set by the three parameters is the period/length of ATR.
The second Parameter is the Multiplier of ATR which would be useful to set the value of distance from the built in Moving Average.
I personally think the most important parameter is the Moving Average Length and type.
PMax will be much sensitive to trend movements if Moving Average Length is smaller. And vice versa, will be less sensitive when it is longer.
As the period increases it will become less sensitive to little trends and price actions.
In this way, your choice of period, will be closely related to which of the sort of trends you are interested in.
We are under the effect of the uptrend in cases where the Moving Average is above PMax;
conversely under the influence of a downward trend, when the Moving Average is below PMax.
Built in Moving Average type defaultly set as EMA but users can choose from 8 different Moving Average types like:
SMA : Simple Moving Average
EMA : Exponential Movin Average
WMA : Weighted Moving Average
TMA : Triangular Moving Average
VAR : Variable Index Dynamic Moving Average aka VIDYA
WWMA : Welles Wilder's Moving Average
ZLEMA : Zero Lag Exponential Moving Average
TSF : True Strength Force
Tip: In sideways VAR would be a good choice
You can use PMax default alarms and Buy Sell signals like:
1-
BUY when Moving Average crosses above PMax
SELL when Moving Average crosses under PMax
2-
BUY when prices jumps over PMax line.
SELL when prices go under PMax line.
PMax Explorer STRATEGY & SCREENERProfit Maximizer - PMax Explorer STRATEGY & SCREENER screens the BUY and SELL signals (trend reversals) for 20 user defined different tickers in Tradingview charts.
Simply input the name of the ticker in Tradingview that you want to screen.
Terminology explanation:
Confirmed Reversal: PMax reversal that happened in the last bar and cannot be repainted.
Potential Reversal: PMax reversal that might happen in the current bar but can also not happen depending upon the timeframe closing price.
Downtrend: Tickers that are currently in the sell zone
Uptrend: Tickers that are currently in the buy zone
Screener has also got a built in PMax indicator which users can confirm the reversals on graphs.
Screener explores the 20 tickers in current graph's time frame and also in desired parameters of the SuperTrend indicator.
Also you can optimize the parameters manually with the built in STRATEGY version.
PMax indicator :
Profit Maximizer - PMax is a brand new indicator developed by me.
It's a combination of two trailing stop loss indicators;
One is Anıl Özekşi's MOST (Moving Stop Loss) Indicator
and the other one is well known ATR based SuperTrend
Profit Maximizer - PMax tries to solve this problem. PMax combines the powerful sides of MOST (Moving Average Trend Changer) and SuperTrend (ATR price detection) in one indicator.
Backtest and optimization results of PMax are far better when compared to its ancestors MOST and SuperTrend. It reduces the number of false signals in sideways and give more reliable trade signals.
PMax is easy to determine the trend and can be used in any type of markets and instruments. It does not repaint.
The first parameter in the PMax indicator set by the three parameters is the period/length of ATR.
The second Parameter is the Multiplier of ATR which would be useful to set the value of distance from the built in Moving Average.
I personally think the most important parameter is the Moving Average Length and type.
PMax will be much sensitive to trend movements if Moving Average Length is smaller. And vice versa, will be less sensitive when it is longer.
As the period increases it will become less sensitive to little trends and price actions.
In this way, your choice of period, will be closely related to which of the sort of trends you are interested in.
We are under the effect of the uptrend in cases where the Moving Average is above PMax;
conversely under the influence of a downward trend, when the Moving Average is below PMax.
Built in Moving Average type defaultly set as EMA but users can choose from 8 different Moving Average types like:
SMA : Simple Moving Average
EMA : Exponential Movin Average
WMA : Weighted Moving Average
TMA : Triangular Moving Average
VAR : Variable Index Dynamic Moving Average aka VIDYA
WWMA : Welles Wilder's Moving Average
ZLEMA : Zero Lag Exponential Moving Average
TSF : True Strength Force
Tip: In sideways VAR would be a good choice
You can use PMax default alarms and Buy Sell signals like:
1-
BUY when Moving Average crosses above PMax
SELL when Moving Average crosses under PMax
2-
BUY when prices jumps over PMax line.
SELL when prices go under PMax line.
auto trend lines with buy sell signalKalakar trader's Tools is the tool where Buy and sell signals generates automatically according to the candles behavior.
It automatically made trend line
It as build in moving average also
It uses WD Gann Levels to calculate entry point with the help of VWAP .
Pivot points determines the recent support and resistance levels.
Trading rule for this indicator
This indicator is designed for Indian equity stocks
Best performance is expected on 10 minutes chart basic user can use 5 minutes chart for stock value less than 500 rupees, else 15 minutes chart
Plotted line shows the market sentiment, green for buy, red for sell and black for neutral market.
Order thumb rule
For buy signals there is a up triangle in green color
For sell signal there is a down triangle in red color
1. avoid any trade signal before 9:35 AM Indian time
2. signal and related stop loss candle must be formed in the same day
3. if order placed in 5 minutes chart then don't go for a target of 15 minutes chart
4. if order placed in 15 minutes time frame and target is too far then check the target in 5 minutes time frame
5. if signal candle touches the target then avoid the signal.
6. Money management is most important for this indicator.
7. Take trade only if it satisfy risk reward ratio.
8. It has long target but need patience.
Signal
using vwap calculates gann square of 9 levels and if any smart money activity on that level then checks the confirmation of the trend by higherhigh or lowerlow formation
Buy Entry : entry price should be on the high of the candle before signal for buy and sl on bottom of flagged candle just before signal
SellEntry : entry price should be on the low of the candle before signal for sell and sl on top of flagged candle just before signal
Please add some extra value to the Stop Loss for safe trading
Warning : Don't place any order without stop loss, This tool is made for educational and learning purpose only, take any trade at your own risk.
Ichimoku Kinko Hyo Strategy+ EMA + 3ATRThis trading strategy uses combination of the Ichimoku Kinko Hyo system with Fibonacci numbers based 13/21/55 exponential moving average ( EMA ) crossover, giving good results in various trending assets !
Also has the Trend-following indicator combining SuperTrend with Chiku breakout from Ichimoku is added in order to confirm trend pattern.
The Ichimoku Kinko Hyo system includes five kinds of signal, of which this strategy uses the most recent of ones i.e. Tenkan Sen / Kijun Sen Cross and price crosses the Kijun Sen. As the Chikou Span, Senkou Span A and Senkou Span B are shifted into the past/future.
The Tenkan Sen, also known as the Turning or Conversion line, is a moving average of the highest high and lowest low over the last 9 periods in this strategy.
The Kijun Sen, also known as the Standard or Base line, is a moving average of the highest high and lowest low over the last 26 periods in this strategy.
The Chikou Span, also known as the Lagging line, is the closing price plotted 26 periods behind in this strategy.
The Senkou Span A, also known as the 1st leading line, is a moving average of the Tenkan Sen and Kijun Sen and is plotted 26 periods ahead in this strategy.
The Senkou Span B, also known as the 2nd leading line, is a moving average of the highest high and lowest low over the last 52 trading days is plotted 26 periods ahead in this strategy.
EMA is quicker to react to the current market price is because EMA gives more importance to the most recent data points. This helps the trader to take quicker trading decisions. Just used the laws of nature for EMA numbers: taken from Fibonacci sequence numbers 13/21/55
A SuperTrend employs ATR values to calculate the indicator values. The SuperTrend indicator combined with Chiku breakout from Ichimoku and plotted. The indicator line changes its color between green and red based on the price momentum in the underlying.
SuperTrend STRATEGYSTRATEGY version of SuperTrend Indicator:
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.
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.
SupterTrend I created this script for basically two reasons
1. there is not simple suptertrend indicator available on tv rather you will find many fancy suptrend indicators with confusing other indicators and absurd background colors i dont know why some of the trader coders are obsessed with is using over the top color and designing phenomena.
2. I want to let people know about the accuracy of suptertrend indicator on multiple time frames i am plaining to create a backtesting tool for almost all Famous indicators so that specially new folks know what should they expect from any particular Indicator
Also i added intraday filter to check the results for intrday signals . the sqaure off timings are for Indian markets only but you can edit the hours and minutes in the code for using other than indian markets. No need to do anything if you only want positional trading trading results
