blindfreddy

SuperTrend BF

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I am republishing this indicator as something changed within TradingView's script engine so that the old script ceased to function ( a minor syntax error that used to be acceptable but no longer is).
Anyhow here's the fixed version which as you can see has done a great job of keeping us on the right side of the trend with once-hot stocks like Skyworks !
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//SuperTrend - Originally by Olivier Seban
//Programmed by BlindFreddy 
//Blog: http://blindfreddy.postagon.com
study(title="SuperTrend BF", overlay = true)
Length = input(10, minval=1),
mult = input(3, type=float,minval=1)
avgTR = atr(Length)
newshortband = hl2 + avgTR * mult
newlongband = hl2 - avgTR * mult
longband=close[1]>=longband[1]? max(newlongband,longband[1]):newlongband
shortband = close[1]<=shortband[1]? min(newshortband,shortband[1]) : newshortband
trend = close > shortband[1] ? 1: close< longband[1]? -1: nz(trend[1],1)
supt = trend==1? longband: shortband
dotcolor = trend==1? green: maroon
plot(supt, color= dotcolor , style=circles, linewidth=3,title="SuperTrend")

Comentarios

FYI:

The SuperTrend indicator does exactly the same as the "Chandelier Exit" also known as "Chandelier Stop".
Responder
ChartArt ChartArt
P.S. Thank you for fixing the incompatibility. But I'd say you missed the chance to also improve the script.

You re-released it again with period 10 as default. The period 7 as default which rajandran.r uses is in my view better. Same for the buy, sell alerts he had added to the SuperTrend:

Responder
squattter ChartArt
That doesn't matter. There are many good settings. Using it like that as a buy/sell on crossover indicator is a pretty rubbish way to trade. You'll make about 5 pips a trade, or even make a loss if you're trading when sideways.
Responder
It is similar to the Chandelier stop but there is a difference, check the scripts. Is up to the individual to choose their preferred indicators and settings, I like 10 & 3 for this one, of course your mileage may vary :)
Responder
squattter ChartArt
This is the way to use super trend.
+1 Responder
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