SuperTrend - the best indicator of trend change
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. But to say that the main thing to determine the direction of the market and go at the very beginning is simple, but to determine when this moment will come much more difficult. A lot of solutions have been developed for this problem, and in this article we will consider the SuperTrend indicator, which is used to calculate several technical tools.
Characteristics of SuperTrend Indicator
- Platform: Metatrader4
- Currency pairs: Any
- Trading Time: Around the clock, recommended European and American sessions
- Timeframe: Any, recommended H1 and higher
- Recommended broker: InstaForex, XM, RoboForex
Rules of trade by the SuperTrend
SELL:
- SuperTrend is red
- The price is below the red line
BUY:
- SuperTrend is blue
- The price is above the blue line
The EXIT is possible in two ways:
- Aggressive - when changing the color of the indicator to the opposite
- 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 (attached in the archive) with a higher timeframe. For example, for H1, set MTF SuperTrend with a period of 240 (H4):
It will look as follows:
In the archives SuperTrend.rar:
- SuperTrend.ex4
- SuperTrend.mq4
- MTF_SuperTrend.ex4
- MTF_SuperTrend.mq4
- Super Trend template.tpl
- ST + MTF ST_H4 template.tpl
Free Download Super Trend Indicator
