Rajandran R Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in and Co-Creator of Algomojo (Algorithmic Trading Platform for DIY Traders)

Supertrend Indicator for Metastock

1 min read

Supertrend Metastock Indicator
 
Supertrend Indicator

The supertrend indicator is a technical analysis tool used to identify the trend direction and strength of a particular security or asset. It is based on the concept of average true range (ATR) and uses a combination of price averages and ATR to generate buy and sell signals.

The supertrend indicator is typically plotted as a line on a chart, with the line turning green to indicate an uptrend and red to indicate a downtrend. The thickness of the line is often used to indicate the strength of the trend, with a thicker line indicating a stronger trend and a thinner line indicating a weaker trend.

Traders and investors use the supertrend indicator as a trend-following tool to identify potential entry and exit points in the market. It is particularly useful for identifying trends in securities with a high level of volatility, and can be used in conjunction with other technical analysis tools and indicators to confirm trade signals.

Supertrend indicator had been a recent popular indicator among day traders and now download supertrend indicator for metastock. The indicator has been tested working under MetaStock 12 pro version. Sample chart of MCX Lead Futures with supertrend indicator shown above

Factor:=Input("Factor",1.00,10.00,3.00);
Pd:=Input("ATR Periods",1,100,10);
Up:=MP()+(Factor*ATR(Pd));
Dn:=MP()-(Factor*ATR(Pd));
Td:=If(Cross(C,LLV(Up,13)),1,If(Cross(HHV(Dn,13),C ),-1,PREV));
Dnx:=If(Dn=HighestSince(1,Cross(Td,0),Dn),Dn,PREV) ;
Upx:=If(Up=LowestSince(1,Cross(0,Td),Up),Up,PREV);
ST:=If(Td=1,Dnx,If(Td=-1,Upx,PREV));
ST

How to Apply this Supertrend Indicator in Metastock

1. Open Metastock
2. Goto Tools->Indicator Builder -> New
3. Paste the code in the Indicator Editor and Save under the Name Supertrend

Metastock Indicator Editor

4.Now Goto Insert->Indicator
5.From the Indicator List choose Supertrend and apply on the Inner Window #1 as shown below

Metastock Supertend

6. Bingo Done. Now start using it

If you are not using Metastock then here you have other options
Download Supertend Indicator for Amibroker with Targetlines and Dashboard
Download Supertrend Indicator for Metatrader with Sound and Popup Alerts

Rajandran R Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in and Co-Creator of Algomojo (Algorithmic Trading Platform for DIY Traders)

Supertrend Indicator for Metastock

Supertrend indicator had been a recent popular indicator among day traders and now download supertrend indicator for metastock. The indicator has been tested working...
Rajandran R
1 min read

NSE and BSE Historical EOD Database in Metastock Format

Download Historical NSE and BSE EOD database in Metastock format
Rajandran R
18 sec read

16 Replies to “Supertrend Indicator for Metastock”

  1. Code given looks ok. But what are the parameters to use for Factor and ATR Period.
    I think those values are important after this code is placed.

    Anandha

  2. salute to your service in financial .
    thanks,

    how to run live data(from where?) in metastock eod?
    pls give some more on metastock.

  3. hello rajander sir

    i am using metastock 10.2 version rt as my trading platform

    i need help in coding for bollinger band for metastock

    now specificaly i want upper, middle , lower, bands to be displayed in horizontal line insted of curvilner lines can u help me out sir

    parameters i am using are 27 days moving average with standard devitation 2

    sir i want that the bands should move below the price action

    looking for favourble response

    sonu

  4. First of all Thanks for the Formula….

    Can u put up SuperTrend Formula for EXPLORER for Metastock

  5. SIR
    THNAKS FOR GIVEN SUPER INDICATOR YOU ARE GREAT SIR IF SOME THING NOW YOU
    DESKOVER PLEASE EMAIL ME

    THANKS THANKS THANKS THANKS

  6. It would be nice to have tho indicator in other 2 versions for metastock:

    1) the supertrend indicator plots only the long period visible
    2) the supertrend indicator plots the long e sell periods in different colors

    thx

    Andy

  7. Can you please give me the code for Super Trend Indicator for Metastock Stock Exploration.
    The formula given above is working to build an indicator but the same code is not usable in
    Metastock exploration. Pls send me the exploration code if you have it ready. Thanks in advance.
    Shiva

  8. Dear Sir,

    Can you please provide the Metastock Exploration for both Uptrend And Downtrend of Super Trend Indicator? I have liked the indicator very much, buy cannot explore to find the stocks among 1500 NSE stocks.

    So, please if possible please provide the exploration formula for both Uptrend & Downtrend of Super Trend.

    Thanks & Regards,

    Sayantan

  9. The formula given above is working to build an indicator but the same code is not usable in
    Metastock exploration. Pls send me the exploration code if you have it ready. Thanks in advance.

  10. ABHIJITH G

    CREATING METASTOCK SUPERTREND EXPLORATION:

    1ST STEP:

    CREATE SUPERTREND INDICATOR :

    CLICK INDICATOR BUILDER > NEW> TYPE “SUPERTREND” AS THE NAME OF THE INDICATOR AND PASTE THE FOLLOWING IN THE FORMULA COLUMN

    Factor:=Input(“Factor”,1.00,10.00,3.00);
    Pd:=Input(“ATR Periods”,1,100,10);
    Up:=MP()+(Factor*ATR(Pd));
    Dn:=MP()-(Factor*ATR(Pd));
    Td:=If(Cross(C,LLV(Up,13)),1,If(Cross(HHV(Dn,13),C ),-1,PREV));
    Dnx:=If(Dn=HighestSince(1,Cross(Td,0),Dn),Dn,PREV) ;
    Upx:=If(Up=LowestSince(1,Cross(0,Td),Up),Up,PREV);
    ST:=If(Td=1,Dnx,If(Td=-1,Upx,PREV));
    ST

    2ND STEP:

    CREATION OF EXPLORATION:

    1. CLICK ‘THE EXPLORER’

    2. NEW EXPLORATION

    3.UNDER A, NAME COLUMN AS BULLISH AND PASTE THE FOLLOWING FORMULA

    C> Fml( “supertrend”) AND Ref(C,-1) < Fml( "supertrend")

    4. UNDER B. NAME COLUMN AS BEARISH AND PASTE THE FOLLOWING FORMULA

    C Fml( “supertrend”)

    YOU CAN LEAVE FILTER COLUMN BLANK OR ADD AS REQUIRED BY YOU.

    5.CLICK OK.

    6. HAVE ENOUGH DATA FOR RUNNING THE EXPLORATION. SO CLICK OPTIONS (NEXT TO REPORTS BUTTON) > AND LOAD 400-500 DAY RECORD ELSE WITH MINIMUM RECORDS LOADED MOST WOULD GET REJECTED AS “Results of filter formula not defined on calculation date.”ERROR.

    PLEASE NOTE THAT THIS EXPLORATION IS QUITE SLOW COZ OF ENOUGH CALCULATIONS IN THE FORMULA. (I RUN 2GB RAM).

    DO LET ME KNOW IF IT WORKED.

    1. small correction

      4. UNDER B. NAME COLUMN AS BEARISH AND PASTE THE FOLLOWING FORMULA

      C Fml( “supertrend”)

    2. small correction:

      step 4.

      same formula as step 3. you will have to reverse the greater and smaller signs i.e.

      unable to paste it.

  11. Would like to see change in the color, as it turns bullish to green and bearish as red
    How to embed this in the code????

Leave a Reply

Get Notifications, Alerts on Market Updates, Trading Tools, Automation & More