It plots an uptrend if the low of a candle gets above the recent downtrend and plots a downtrend if the high of a candle gets below the recent uptrend, you have to wait for the candle to close to confirm the actual trend change. I use it to give me a direction for longs or shorts, not as a stop/reverse indicator.
Thanks Lazy Bear and Gunazzi :)
Notas de prensa
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UPDATE - Added % Gain/Loss as requested in comments
Man, this is very nice !. But which indicator would you recommend to use especially for horizontal markets?
Black-Hawk2024
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This is a very solid indicator. Thank you so much. I am using MTF version of this and its really helpful. God bless you brother:)
alex_cryptoh
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Excellent indicator
eatyofood
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holy crap bro this thing is awesome!!
PinoyTrader0929
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I really like this script. I think this is the best one you have written in tv. I have tested all of your indicators. May i request, if you can could create an MTF version of this indicator? Thank you. And happy trading
EvoCrypto
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@Iceman0929, Cool, happy to hear that! Here is a quick script that includes the MTF function tradingview.com/script/D4gQmcbM-Variable-SuperTrend-MTF-evo/ A lot from the original version didn't work anymore like color and stuff.. So send me a message if you want those, I would have to look into that later then. A fun little tip: You can make almost any script MTF by adding (resolution="") like you see in the end of line 5 of this script.
PinoyTrader0929
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@EvoCrypto, thank you. I can't say how much i appreciate it
PinoyTrader0929
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@EvoCrypto, the color stuff isn't really important to me, just the actual trend line. Thanks for the tip!!!!
gildaslm
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thanks for your answer, and your add. You can have a look at "trendfrance.com". It's a french guy who coded a pretty nice indicator but not on trading view.
And you can see the trend gains at different steps. Thanks, see you. In fact, you can see at @trendraiser on twitter that he has a trading view version but he
doesn't share it.
EvoCrypto
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@gildaslm, Looks interesting, looks like a better version of the Donchian Channels indicator, don't know how those steps work tbh but thanks for the inspiration :)