Supertrend V1.0 - Buy or Sell Signal

Supertrend Indicator with Buy and Sell Indicators. Supertrend is quite a popular indicator. To know more about it check out the article below.

10 Things to know about Supertrend
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//Author - Rajandran R
study("Supertrend V1.0 - Buy or Sell Signal", overlay = true)

Factor=input(3, minval=1,maxval = 100)
Pd=input(7, minval=1,maxval = 100)


TrendUp=close[1]>TrendUp[1]? max(Up,TrendUp[1]) : Up
TrendDown=close[1]<TrendDown[1]? min(Dn,TrendDown[1]) : Dn

Trend = close > TrendDown[1] ? 1: close< TrendUp[1]? -1: nz(Trend[1],1)
Tsl = Trend==1? TrendUp: TrendDown

linecolor = Trend == 1 ? green : red

plot(Tsl, color = linecolor , style = line , linewidth = 2,title = "SuperTrend")

plotshape(cross(close,Tsl) and close>Tsl , "Up Arrow", shape.triangleup,location.belowbar,green,0,0)
plotshape(cross(Tsl,close) and close<Tsl , "Down Arrow", shape.triangledown , location.abovebar, red,0,0)
//plot(Trend==1 and Trend[1]==-1,color = linecolor, style = circles, linewidth = 3,title="Trend")

plotarrow(Trend == 1 and Trend[1] == -1 ? Trend : na, title="Up Entry Arrow", colorup=lime, maxheight=60, minheight=50, transp=0)
plotarrow(Trend == -1 and Trend[1] == 1 ? Trend : na, title="Down Entry Arrow", colordown=red, maxheight=60, minheight=50, transp=0)

This is repainting. I was observing a buy signal, it was there, and then when there was a dump, there was a sell signal, and previous buy signal was gone.
+1 Reply
Hi everyone, does anyone notice any repaint with this indicator.
Guys, does anyone know how to set up the alerts for this indicator here on Tradingview? There are more options and it still doesnt work... Thank you!!!
+10 Reply
Hi Rajendran, Fan of your's site http://www.marketcalls.in. Grt job buddy. But plz guide me how could I add this indicator to tradingview chart as I am quite new to this site I don't know where to add this code.
+14 Reply
Check http://www.tradeseven.com for metatarder platforms
supertrend is so similar to EMA 50.
Hi Rajandran,

This looks like a great indicator, thanks for sharing.

I noticed on your site you have version 5 of this indicator. Would you be able to update here, and also, could you create a scanner (based on this indicator) that can scan Russell 3000 stocks and forex pairs?

Thank you.
Could you please explain me, this part of the script "TrendUp=close>TrendUp? max(Up,TrendUp) : Up" Isn't it a circular reference? As far as I understand, function "TrendUp" refer to itself. Actually I'm trying to make this indicator in Metastock and Metastock doesn’t allow to make circular references. Can somebody explain me am I wrong and example above isn’t a circular reference or I just misunderstand calculation of this functions (TrendUp in this example)?
Thank you))
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