I've open this new tread to see if anyone can help.
Super trend indicator plots the changes of direction - new version attached.
The indicator draws a dual coloured trendline on the chart.
The indicator 'line' obviously has a value in relation to the price so as this is a trend detector can someone put in an alert to show when the previous change in trend value has been exceeded please?
It needs to look back at the previous 4 changes at least.
The illustration I have attached shows vertical dotted lines at the change of direction of the trend and also I have drawn in horizontal Support and Resistance levels based on the value of the Supertrend indicator.
It is when these values are broken by the current supertrend values that an alert is required.
How is this used safely? When the last support horizontal (1 in the illustration) is unbroken and the supertrend indicator creates another support (3 in this illustration) then a buy signal is created.
Similarly when the last resistance horizontal (2 in this illustration) is unbroken and the supertrend indicator creates another resistance (4 in this illustration) then a sell signal is created.
My reasoning is that as this is a trend indicator then the S&R levels of the trend are extremely usedful.
If any further explanation or detail is required please PM me or post here and I will reply.
please post the whole setup with template, may be i can help you