The biggest problem with supertrends is that there are a lot of false signals, which when the trend is uncertain give a lot of losses
My task in creating this script was to minimize the number of false sinhals.
Smart supertrend is both dependent on ATR, price movmment as well as , CLOUD
It works in such a way that when the cloud and recognize that the trend is , the strategy instead of opening the shorts, closes the longs waiting for a more certain situation.
The settings are default I didn't focus too much on optimization just on the brain indicator itself
The indicator can also be used for altcoins as well as major coins on different time frames
This is the way it works :
here are the explanations
I set stop loss at 6.6% becouse of the best performance of this strategy
In source code there is not any alerts for stop loss , so I recommand set stop loss manual from entry, 6.6% is kinda high in supertrend strategy
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.