Supertrend Indicator
Indicator EA template available
Section titled “Indicator EA template available”An EA template is available for this indicator. Add a new EA to your account and choose the template matching the name of this indicator.
The Supertrend Indicator
Section titled “The Supertrend Indicator”
The Supertrend indicator is a non-repaint MT5 trend indicator that helps determine market trend reversal points.
Analyzing Trends and Strength
Section titled “Analyzing Trends and Strength”Determining the correct trend is not enough for profitable entries. We need to assess the strength behind the price and predict the possible range of upcoming market movements.
Calculating Supertrend Value
Section titled “Calculating Supertrend Value”The Supertrend value is calculated based on its Nbr period and multipliers. Market trends will be determined depending on the price position relative to the indicator level.
Understanding the Indicator
Section titled “Understanding the Indicator”The Super Trend indicator can be displayed as filled areas or as a signal line. The indicator turns green during a bullish trend, indicating support, and turns red during a bearish trend, indicating resistance.
Identifying Sideways Market
Section titled “Identifying Sideways Market”Sometimes the Supertrend line stays the same and builds a straight horizontal line, indicating a sideways market. Wait for a strong price breakout before entering a trade.
Using Supertrend for Trading
Section titled “Using Supertrend for Trading”The Supertrend line can be used as both an initial and a trailing stop level to enter a trade. Close the order when the price breaks the trend line in the opposite direction.
Suitable for All Traders
Section titled “Suitable for All Traders”The Supertrend indicator is suitable for both experienced and beginner traders. It can be easily combined with any trend following trading strategy.
Conclusion
Section titled “Conclusion”The Supertrend indicator is a valuable tool for identifying trend reversal points and assessing the strength of price movements. It provides clear buy/sell signals for day trading and can be used in various trading strategies.