Close to Supertrend — Indicator by SushilKothawade

supportandresistance pullbacktrade supertrend riskrewardratio supertrend_reversal

Many a times, we have seen that the price closing in towards supertrend reverses.

This indicator gives signal that identifies high / low of any candle if near the down / up supertrend line by a defined margin using arrow signals.
I've simply re-used readily available supertrend indicator source code and just modified it to these signals. So, almost all of the source code is not mine.

Enter the short / long position when arrow signal appears.
SL / trend reversal will be mandatorily at close of a candle above or below the supertrend line, and the supertrend changes direction.

Hope this indicator comes handy for you.

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

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