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Indicators

Super trend - simple - indicator for MetaTrader 5

Mladen Rakic

Views:
2320
Rating:
votes: 9
Published:
2018.11.01 12:58

Theory :

There are a couple of versions of super trend that are floating around the net. One of the versions is using CCI (Commodity Channel Index) for calculation. Now, the way it is calculated, it is using the CCI crosses of zero line as a signal for a trend change. Implicitly, since CCI will cross zero line when the price crosses its SMA (Simple Moving Average), that means that the super trend is actually an indicator of a price crossing the SMA. Except that would not be the super trend indicator as we know it at all :). ATR (Average True Range) is usually added as a filter to those crosses, and then we have what we all know as "super trend" indicator

This version :

It is using as simple as it gets calculation. Also, in order to add some things that are usually not available, you have a choice of what is to be used as a filter. You can use

  • average true range (ATR)
  • standard deviation

as a filter. Standard deviation tends to be "faster" then the ATR counterpart hence you need to do some experimenting when using it, but all in all the signals are still remaining usable (see the example bellow)

Usage :

You can use the color changes for signals

Same example as above, but using standard deviations instead of ATR for filtering :


Stochastic RVI - levels Stochastic RVI - levels

Stochastic RVI - levels

Juice - EMA deviation - advanced Juice - EMA deviation - advanced

Juice - EMA deviation - advanced

CCI variation CCI variation

CCI variation

Volume Profil & Range V6 Volume Profil & Range V6

Volume Profile + Range v6.0 (former TPO). Distribution of deals by price levels at a given time interval. Displayed as a histogram. The width of the histogram at the level means the number of transactions carried out on it. If a broker provides data on a real volume, the indicator is able to display distribution on it as well. Original codes is here https://www.mql5.com/en/code/15440 but it doesnt work on new builts of MT5 I just compiled for new builts