Super Trend Classic
The Super Trend indicator is calculated by using the ATR to offset the indicator from the average price. When the price touches the Super Trend line it turns over to the other direction. One of the great things about the Super Trend is that it only moves in the direction of the trend.
The Super Trend Indicator is a great way to identify the current market trend. The indicator shows a clear distinction between uptrends and downtrends. When the indicator is flat and flipping from above to below it shows that there is no trend at the present time.
Trend followers can use SuperTrend on the daily timeframe to identify the main trend and then use the 8 hour or 4 hour chart to identify trade entry opportunities
- Classic Super Trend Indicator - no deviation from original formula
- User can specify the ATR Multiple, default is set to 1 as per original formula
- User can specify the ATR Period, default is set to 10 as per original formula