we all use Super trend but it main issue is the lag as it buy too late or sell too late
using Deavaet study of Heat map MTF we can do a little trick
if you look on his study you can see that major signal for example will happen in the time frame before it happen at larger time frame
so in this example if signal at MTF 30 min and signal at MTF 60 min happen at the same time at 2 hours or 4 hours candles then this signal are more likely to be true then random signal at each time frame specific.
since we use shorter time frame on larger time frame we can remove the lag issue that make supertrend not so effective
In this example I set the signal to be MTF 30 +60 om 2 hour TF , can be good also for 4 hour candles..
So you get the signal to close inside the larger candle
now if you want to make on even shorter TF then change the code to 15 and 30 MTF on candles on 1 hour
or 1 and 5 min on 30 min or 15 min
let me know if it work or not..
Here's an overlay of your strategy marked by the giant triangles, vs. my PRISM Signals' "B" and "S" signals.
Only feedback might be to reduce the size of the triangles, or allow users to set the size as they wish. :)
Your code performs better than mine at smaller time frames! :)
Will be testing it out.
I understand the suggestion about the triangles is merely cosmetic, but it was the only suggestion I have from the POV of a "user".
But might try to custom my own version for my own use when I've the time again. :D
Can u plz guide me how can i use it for 1 min or 5 min chart ? as i am unable to understand where we have to make changes for applying this indicator on 1 min chart
"now if you want to make on even shorter TF then change the code to 15 and 30 MTF on candles on 1 hour
or 1 and 5 min on 30 min or 15 min "
The "repaint" issue comes from the security function security(syminfo.tickerid, "30", Trend). You need to add the lookhead=on field to remove the repainting issue