blindfreddy

SuperTrend BF

666 5 121
I am republishing this indicator as something changed within TradingView's script engine so that the old script ceased to function ( a minor syntax error that used to be acceptable but no longer is).
Anyhow here's the fixed version which as you can see has done a great job of keeping us on the right side of the trend with once-hot stocks like Skyworks !
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//SuperTrend - Originally by Olivier Seban
//Programmed by BlindFreddy 
//Blog: http://blindfreddy.postagon.com
study(title="SuperTrend BF", overlay = true)
Length = input(10, minval=1),
mult = input(3, type=float,minval=1)
avgTR = atr(Length)
newshortband = hl2 + avgTR * mult
newlongband = hl2 - avgTR * mult
longband=close[1]>=longband[1]? max(newlongband,longband[1]):newlongband
shortband = close[1]<=shortband[1]? min(newshortband,shortband[1]) : newshortband
trend = close > shortband[1] ? 1: close< longband[1]? -1: nz(trend[1],1)
supt = trend==1? longband: shortband
dotcolor = trend==1? green: maroon
plot(supt, color= dotcolor , style=circles, linewidth=3,title="SuperTrend")
ChartArt
10 months ago
FYI:

The SuperTrend indicator does exactly the same as the "Chandelier Exit" also known as "Chandelier Stop".
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ChartArt ChartArt
10 months ago
P.S. Thank you for fixing the incompatibility. But I'd say you missed the chance to also improve the script.

You re-released it again with period 10 as default. The period 7 as default which rajandran.r uses is in my view better. Same for the buy, sell alerts he had added to the SuperTrend:

Supertrend V1.0 - Buy or Sell Signal
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squattter PRO ChartArt
10 months ago
That doesn't matter. There are many good settings. Using it like that as a buy/sell on crossover indicator is a pretty rubbish way to trade. You'll make about 5 pips a trade, or even make a loss if you're trading when sideways.
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blindfreddy PRO ChartArt
10 months ago
It is similar to the Chandelier stop but there is a difference, check the scripts. Is up to the individual to choose their preferred indicators and settings, I like 10 & 3 for this one, of course your mileage may vary :)
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squattter PRO ChartArt
10 months ago
This is the way to use super trend.
snapshot
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