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));
STHow 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
4.Now Goto Insert->Indicator
5.From the Indicator List choose Supertrend and apply on the Inner Window #1 as shown below
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
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
salute to your service in financial .
thanks,
how to run live data(from where?) in metastock eod?
pls give some more on metastock.
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
First of all Thanks for the Formula….
Can u put up SuperTrend Formula for EXPLORER for Metastock
Hi, Could you get Exploaration for Suertrend? Please post here or mail me at: [email protected]
SIR
THNAKS FOR GIVEN SUPER INDICATOR YOU ARE GREAT SIR IF SOME THING NOW YOU
DESKOVER PLEASE EMAIL ME
THANKS THANKS THANKS THANKS
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
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
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
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.
Can you provide me the buy & sell supertrend indicator to me .thank you
Kc
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.
small correction
4. UNDER B. NAME COLUMN AS BEARISH AND PASTE THE FOLLOWING FORMULA
C Fml( “supertrend”)
4. UNDER B. NAME COLUMN AS BEARISH AND PASTE THE FOLLOWING FORMULA
=CFml( “supertrend”)
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.
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????