While it’s true that TradeStation and MultiCharts are excellent platforms in their own right, but they have not yet included many common indicators such as the SuperTrend (ST).

The SuperTrend analyzes the formation of maximum and minimum on the single bar and performs a series of calculations using the Average True Range ATR.

ATR is one of the best indicators of historical volatility. We have developed numerous good indicator that is based on ATR.

When the trend is bullish, the SuperTrend will move below the prices and turn green. When the trend is bearish, the SuperTrend will move above prices, and the color will turn red. It doesn’t get much easier than that!

If you use the SuperTrend to get input signals when the ST turns from red to green, you enter long and close the shorts and vice versa.

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SuperTrend Indicator for MultiCharts and TradeStation

The SuperTrend can be used on any financial instrument. You can use this indicator in every time frame.

However, remember that as a follower indicator, the long timeframes will work better.

We personally like to use the ST for trend analysis in the daily, weekly, and monthly charts.

You have to remember that trends exist only in the long term. Use SuperTrend in higher timeframe is the better choice.

6 - SuperTrend eurusd Monthly chart

We should bring out that the ST Indicator is less reactive than other indicators such as Parabolic Sar or Moving Averages. But that ends up working in your favor since it provides fewer false signals and will keep the position in the trend for a longer period.

As we know, the Trend-Follower strategies are profitable when the trader stay in position for long periods.

At the same time, the trader has to cut the losses immediately. In general, the risk/return ratio of a trend-follower strategy will be at least one to three.

By using the SuperTrend, you will never be able to buy the market lows or sell the market highs. Remember that it isn’t fool-proof and does give false signals in sideways trends.

7 - SUPERTREND evolution indicator

SuperTrend Evolution Indicator for MultiCharts and TradeStation

We developed the new SuperTrend Evolution Indicator.

Our new indicator draws nine lines. The lines are calculated through the ATR.

Therefore the indicator adapts itself to the various instruments based on volatility.

SuperTrend Evolution Inputs

If the distance between the lines doesn’t work for you, you can always change this value in the inputs.(SuperTrend_RED_Band_Space and SuperTrend_GREEN_Band_Space

You can also change the sensitivity and responsiveness of the indicator by changing the value from 1 to 9.

When you choose 1, the indicator will perform SuperTrend calculations based on the furthest line, when you set 9 it uses the nearest one.

If you don't like the new SuperTrend Evolution, choose the Classic_Mode in the input.

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Other Information about the Classic SuperTrend Indicator

SuperTrend Formula and Parameters

The Formula of SuperTrend is:

Upper=(high+low)2+(Multiplier∗ATR)

Lower=(high+low)2−(Multiplier∗ATR)

From these calculations, a line is generated that tends to follow the upward or downward trend.

SuperTrend detects the average price of each candle for you and associates two bands calculated through the ATR multiplied by a constant.

The standard value of this constant is three; the previous candles analyzed are 10. If you increase the ST multiplier, the line distances itself from the prices and vice versa.

supertrend formula title

Identify the trend phases

The SuperTrend can indicate visually and correctly what is going on with the market at a given time.

This indicator is straightforward to use and gives you an accurate reading about the actual trend.

You can use in multiple charts desktop to spot the trend at a glance.

SuperTrend for Trailing Stop

At the end of the day, the essential function of this indicator is for trailing stop your positions. ST does an excellent job in managing an open position by moving the stop loss based on volatility.

We use the Supertrend Indicator like a trailing stop in many trend follower strategies.

We like to use an indicator that reflects the volatility. SuperTrend is built using the Average True Range that calculates the historical volatility.

1 - supertrend indicator for multicharts and tradestation

Usually, you could start to trailing stop with the Supertrend only after X dollars of profit or just after X days in positive.

As an added bonus, you can also use the indicator on the lower timeframe to speed up the trend inversion signal.

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