SuperTrend Indicator - Format .ex4
Description: The SuperTrend indicator is build upon on two indicators – ATR and CCI. CCI (the standard parameter is 50) points the direction of trend movement, meanwhile ATR is used to determine the levels of indicator. If CCI is above 0, SuperTrend either rises or moves horizontally (depending on ATR). If CCI is negative, SuperTrend falls (depending on ATR also).
Opening of deals on the trend will always give the maximum profit and is most suitable for beginners, who do not have experience in trading in complex techniques, such as swing trading or countertrend positions.
Formula
UpperLevel=(High[i]+Low[i])/2+Multiplier*Atr(Period);
LowerLevel=(High[i]+Low[i])/2-Multiplier*Atr(Period);
TrendCCI_Period = 50
Characteristics of SuperTrend Indicator
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Platform: Metatrader4
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Currency pairs: All pairs
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Trading Time: Any ( recommended European and American sessions )
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Time-frame: recommended H1 and higher
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Recommended Brokers: AxiTrader, FxPro, HYCM, InstaForex, easyMarkets, FXTM
Rules for opening a long position:
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SuperTrend is blue
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The price is above the blue line: wait for the first descending correction and open buy position
Rules for opening a short position:
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SuperTrend is red
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The price is below the red line: wait for the first ascending correction and open sell position.
The EXIT is possible in two ways:
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Aggressive - when changing the color of the indicator to the opposite
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Conservative - when the price crosses the indicator line
Stop Loss is set above/below the previous local minimum/maximum.
Of course, the accuracy of the signals will be higher with additional filters. As such a filter, you can apply MTF SuperTrend with a higher timeframe.
For example:
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for M5, set MTF SuperTrend TimeFrame Value with a period of 30 (M30)
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for M15, set MTF SuperTrend TimeFrame Value with a period of 60 (H1)
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for H1, set MTF SuperTrend TimeFrame Value with a period of 240 (H4)
Please note:
Buying this SuperTrendt Indicator, you DO NOT have a FULL ACCESS to the Code and Parameters.
If you would like to have an access for the full version along with codes and parameters,
Please click here to follow the link BUY NOW.
RISK DISCLAIMER
The application displayed on this page does not take in to consideration your individual personal circumstances and trading objectives. Therefore, it should not be considered as a personal recommendation or investment advice. Past performance is not indicative of future results. There is no guarantee that the systems, trading techniques, trading methods, expert advisors (EAs), scripts and/or indicators will result in profits or not result in losses.
