zAngus Updated   
The SuperTrail indicator is similar to the very popular and widely used SuperTrend but it has been improved to use a percentage value instead that helps users to determine the natural trading range of a stock over a period of time, and set stop losses (especially trailing stops) accordingly.

The best way to use it is to find stocks in a steady trend (upwards if you are going long or downwards if you are going short) and keep changing the indicator percentage levels until you identify a percentage that keeps you in the trade for longer without getting stopped out too often. You can then set this value in your trading program, or set an alert within Trading View to notify you if something changes and you need to take an action.

Some stocks might have little volatility and only require an 8% trail. Some might be more volatile and work better with a wider 20% trail. It also depends on your time frame. Shorter time frames are typically shorter stops. Longer time frames work better with wider stop values. The best thing about this tool is that it helps you identify the best optimised stop loss range to set for each individual stock based on its range.

The indicator works on any time frame - minutes to hours to weeks. If you want to hold stocks for a shorter time you might look at the natural range over the last 7 days, medium term the range over the last 3 months, or if you want to hold a stock for a much longer period of time then perhaps look to identify the range over the last 12 months. If you get stopped out of a stock you like, then set an alert, and when the stock moves back up within its range you can decide on whether or not you re-enter.

It is a super simple indicator. As always it is meant only as a visual guide to assist you with your trading and you will get better results by combining it with another indicator like an OBV or RSI. You can check out my Trading View channel to see how I have used it across different stocks and based it on different time periods.

I have also made and uploaded a video to my Trading View account showing how it works and how I use it.

Message me if you would like access.
Release Notes:
Updates to the script:

- Uses the latest version of PineScript
- Simplified the options
- Changed wording from Buy/Sell to Bullish/Bearish





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