OPEN-SOURCE SCRIPT
SuperTrend (Custom)
The SuperTrend indicator is a volatility-based trend-following tool. It uses the Average True Range (ATR) to gauge market volatility and combines it with a user-defined multiplier to calculate dynamic support and resistance levels. When the price closes above the SuperTrend line, the line turns green to signal an uptrend; if the price closes below, the line turns red to indicate a downtrend. By adjusting the ATR period and multiplier, traders can fine-tune the indicator’s sensitivity—shorter periods and smaller multipliers produce tighter trailing stops, while longer periods and larger multipliers yield wider stops to accommodate volatile markets.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.