Technical Indicators for MetaTrader 5
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MetaTrader 5
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Overview
SUPERTREND; It is a trend following indicator based on the SuperTrend ATR created by Nav. It can be used to detect changes in trend direction and locate stops. When the price falls below the indicator curve, it turns red and indicates a downtrend. Conversely, when the price moves above the curve, the indicator turns green, indicating an uptrend.
BUY/SELL Signals;
Method 1; A standard strategy using a single SuperTrend is
While ST Period 1=10, ST Multiplier 1=3,
- SELL signal when the bars fall below the indicator curve (indicator color red)
- BUY signal (indicator color blue) when the bars rise above the indicator curve
Method 2; A strategy using 2 SuperTrend's
(ST_1) ST Period 1=10 while ST Multiplier 1=3
(ST_2) While ST Period 2=21, ST Multiplier 2=4 ,
- When ST_2 indicator is blue; Red to blue transitions of ST_1 BUY signal
- When the ST_2 indicator is red; Blue to red transitions of ST_1 SELL signal
