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Indicators

Pivot SuperTrend / BhanuCodeLab - indicator for MetaTrader 5

Bhanu Chandra Raju Indukuri
Bhanu Chandra Raju Indukuri

Bhanu Chandra Raju Indukuri

  • MQL4 / MQL5 Trading Automation Developer at  BhanuCodeLab
  • India
  • 476
5 (1)
With more than 10 years of coding experience and more than 7 years of experience in financial markets and algorithmic trading development, I specialize in building quantitative trading and automation solutions.
3 codes
Views:
166
Rating:
(1)
Published:
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Pivot SuperTrend / BhanuCodeLab


The indicator calculates confirmed swing highs and swing lows, then uses them to build a weighted pivot center. An ATR-based adaptive trail is calculated around this center to determine the current trend direction.

A bullish trend is displayed with the bullish trail color, while a bearish trend is displayed with the bearish trail color. When the trend changes direction, the indicator can display BUY or SELL tags and generate terminal, push, or email notifications.

Optional features include:

  • Confirmed swing-high and swing-low markers
  • Weighted pivot center line
  • Latest confirmed support and resistance levels
  • BUY and SELL signal tags
  • Closed-candle or live-candle alerts
  • EA-accessible signal and trend buffers

Who Is This Indicator For?

This indicator is suitable for:

  • Trend-following traders
  • Swing traders
  • Intraday traders
  • Traders looking for structured trend-reversal signals
  • Traders who use pivot highs and lows for market structure analysis
  • EA developers who need accessible trend and signal buffers
  • Traders who want ATR-adjusted signals that respond to changing volatility

It can be used on Forex, metals, indices, cryptocurrencies, and other instruments available in MetaTrader 5.

How to Check the Signals

BUY Signal

A BUY signal appears when the indicator changes from a bearish trend to a bullish trend.

Look for:

  • The trail changing to the bullish color
  • A BUY tag appearing on the chart
  • The Trend Direction buffer changing from -1 to 1

The BUY signal becomes more reliable when confirmed after the candle closes.

SELL Signal

A SELL signal appears when the indicator changes from a bullish trend to a bearish trend.

Look for:

  • The trail changing to the bearish color
  • A SELL tag appearing on the chart
  • The Trend Direction buffer changing from 1 to -1

The SELL signal becomes more reliable when confirmed after the candle closes.

Recommended Signal Confirmation

For safer signal checking:

  1. Enable closed-bar alerts.
  2. Wait for the signal candle to close.
  3. Confirm that price remains on the correct side of the trend trail.
  4. Check the higher-timeframe trend.
  5. Avoid taking signals during low-volatility or sideways market conditions.
  6. Use proper stop-loss and risk-management rules.

The indicator should not be used as a complete trading system by itself. Signals should be confirmed with market structure, support and resistance, volatility, or another suitable trading method.

Recommended Timeframes

The indicator can be used on all MetaTrader 5 timeframes, but it generally performs better on:

  • M15 and M30 for intraday trading
  • H1 and H4 for swing trading and more stable trend signals
  • D1 for long-term trend analysis

For most users, H1 is the best balanced timeframe because it provides clearer trend changes with less market noise.

Lower timeframes such as M1 and M5 may produce more frequent signals, but they can also generate more false reversals during sideways or highly volatile market conditions.

A practical approach is to check the main signal on M15 or H1 and confirm the broader trend using H1 or H4.

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