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 !
The SuperTrend indicator does exactly the same as the "Chandelier Exit" also known as "Chandelier Stop".
ChartArt
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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:
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.
blindfreddy
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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 :)
squattter
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This is the way to use super trend.
yaali1397ahmadi
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Signal
5&1 yellow 💛 blue 💙 7&2 green 💚 red ♥️ Very very good