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Sunday, 02 October 2022
supertrend-indicator
supertrend-indicator

supertrend-indicator

Watch the testing video here:

Supertrend Indicator

 

Introduction to the Supertrend Indicator

The Supertrend Indicator is a high-demand forex trading tool. It helps to solve major issues, like what is the current trend, when does it start and end. Signals provided by that Supertrend gauge give answers to these questions. Both beginners and advanced forex traders find it powerful and highly accurate.

The Supertrend Indicator fits all kinds of timeframes and currency pairs. It is displayed directly on the main trading chart. The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.

How does it work? How to apply in trading?

Trading Rules Explanation

The trading signals of Supertrend Indicator are displayed in the form of a red and green cloud. The green cloud indicates that the trend is considered bullish. Conversely, the red cloud suggests a bearish trend takes place. Trades are triggered at the switch of the cloud’s color.

Buy Signal

Follow these steps for a long trade:

  • The cloud of the Supertrend Indicator switches from red to green
  • Price swings higher from recent low swing
  • Buy trade is triggered after the first candle meeting above conditions
  • Set stop loss a few pips below the last swing low of the market
  • Take profit or exit trade whenever Supertrend Indicator provides opposite signal or use your own method of trade exit

Sell Signal

Follow these steps for a short trade:

  • The cloud of the Supertrend Indicator switches from green to red
  • Price swings lower from recent high swing
  • Sell trade is triggered after the first candle meeting above conditions
  • Set stop loss a few pips above the last swing high of the market
  • Take profit or exit trade whenever Supertrend Indicator provides opposite signal or use your own method of trade exit

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