Compared to Supertrend 3.0 with the new version two interesting features has been added. One is a simple EMA filter rule is added to Buy and Short Conditions and changes in the dashboard (included target levels in Supertrend Dashboard for discrete traders). And performance of Trading system is really interesting when comes to backtesting with Nifty and Bank Nifty Futures. Recorded Webinar of Supertrend and Filters posted down below.
Buy – if suptrend shows a buy signal and candle above 200 EMA (Green Arrow)
Exit Buy – if supertrend shows a exit signal (Yellow Star)
Short – if suptrend shows a sell signal and candle below 200 EMA (Red Arrow)
Exit Short – if supertrend shows a exit signal (Yellow Star)
Trades are Executed on the close of the Candle. And so SetTradeDelays(1,1,1,1) functions is mentioned in the afl code to introduce a delay of trade at next bar open.
Apply Supertrend V4.0 indicator in Interactive NSE Futues and Options 5min Charts
Add Supertrend and Moving Average 200EMA over the candlestick and for trading system rules follow the above mentioned.
Visit here To know more about the basic version of supertrend and concepts
Trailing Stops : Green lines are trailing stop lines for Buy Signal and Red lines are trailing stop lines for Sell Signal.
1)Buy, Short and Exit Signals
2)Trading Dashboard which tracks the Trade executed price, Trailing stoploss and P/L for current running trade
3)Time left feature to identify bar completion time
4)Dashboard indicates no trade zone when there are no trades happening.
5)200 EMA line – Filter Condition.
6)Target Achievement Indication in the Dashboard for current Signals.
Webinar on Supertrend V4.0 with Filters
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Presentation on Supertrend and Filters
Steps to Install in your Amibroker
1)Download Supertrend v4.0 – Amibroker AFL Code. If you are not comfortable in running Backtesting and Optimization try with the following code Supertrend V4.0 Backtest and Optimize
2)Unzip Supertrend V4.0 afl to local folder
3)Copy Supertrend V4.0.afl file to \\program files\\amibroker\\formula\\basic folder\\
5)Open Amibroker and Open a New Blank Chart
6)Goto Charts->Basic Charts and apply/drag-and-drop the Supertrend v4.0 code into the blank chart
7)Bingo you are done. Now you will be able to see the Supertrend v4.0 Trading System indicator with Buy and Sell signals.
Supertrend V4.0 Backtested Results for Nifty futures with Fixed lot size of 100 shares. Backtested with 1min historical data since Jan 2008 to July 2014
Supertrend V4.0 – Amibroker AFL code