bennef

SuperC BF 🚀

Based on some code from noro and kiasaki - thank you.

A Super Trend is a trend over a long period of time. There are lots of existing scripts that generate signals based on the overall direction of an instrument. What if we combined this idea with a measure of Money Flow and added a filter to try to avoid choppy sideways action?

I started with a super trend foundation and added an MFI calculation to account for volume flowing into and out of the asset. Then added a Rate of Change function to stay out of trades when there is not much up/down movement.

INSTRUCTIONS
  • Bright green background = go long
  • Bright red background = go short

COLOR OVERVIEW
A white background means we don't trade
A green background means we have a long condition
A red background means we have a short condition

The cloud is green when we have a long condition, red when we have a short condition.
The cloud is yellow if we should be in a long already but the current candle is not satisfying all long conditions.
The cloud is orange if we should be in a short already but the current candle is not satisfying all short conditions.

The line at the bottom is MFI - this is green when the current candle is greater than the last, red when it is less than the last.

SIGNAL GENERATION
A long condition is when MFI > MFI AND we are not in a choppy market AND when price is above the super trend.
A short condition is when MFI < MFI AND we are not in a choppy market AND when price is below the super trend.

We use a fixed Stop Loss of 2% here on the daily timeframe for XBT/USD.
If we get stopped out from a long and we still have the conditions for a long, we re-enter. Same for short.
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