SuperTrend is a simplified implementation of the famous super trend indicator. Supertrend is a very simple indicator. The Buy and Sell signal changes as soon as the indicator flips over the closing price. Supertrend is a trending indicator, and like all trending indicators it works well in trending markets. However, it does give lesser false signals than a lot of other indicators. The SuperTrend indicator is calculated utilizing the ATR to offset the indicator from the price. One of the advantages of the SuperTrend is it just moves in the direction of the trend. When the red line flips and turns red a buy signal is generated. When the green line flips and turns red, a sell signal is generated. The signals itself can be used to open positions. With other strategies, super trend can be used as a trend filter. The supertrend line can also act as a trailing stop loss.
SuperTrend.zip (2.1 KB)