Smart SuperTrend

wielkieef Premium Updated   

This is my version of Super Trend

The biggest problem with supertrends is that there are a lot of false signals, which when the trend is uncertain give a lot of losses
My task in creating this script was to minimize the number of false sinhals.
Smart supertrend is both dependent on ATR, price movmment as well as ADX , CLOUD
It works in such a way that when the cloud and adx recognize that the trend is bullish , the strategy instead of opening the shorts, closes the longs waiting for a more certain situation.
The settings are default I didn't focus too much on optimization just on the brain indicator itself
The indicator can also be used for altcoins as well as major coins on different time frames

This is the way it works :

during large dumps, the pointer does not look for the perfect long position, but waits for a more confident situation
In this way, when a given cryptocurrency goes in one direction, we do not lose during the swing market.

In the same way behaves during the bullish trend

Unfortunately, no indicator is perfect and everyone makes mistakes, but we can limit them to some extent

As always...
Enjoy !!!
Release Notes: Clean the source-code, Updated the chart

This indicator look better at 1h charts
Release Notes: Updated settings for BTCUSDT
catch the strategy version here

Enjoy ;)

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.


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Want to use this script on a chart?