Supertrend Fakeout MT4

The Supertrend Fakeout Indicator is an enhanced version of the classic Supertrend indicator, designed to deliver more reliable trend signals. By incorporating advanced features like the Fakeout Index Limit and Fakeout ATR Mult, this indicator helps to filter out false trend reversals caused by short-term price fluctuations or market noise.

See more MT5 version at: Supertrend Fakeout MT5

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The Supertrend Fakeout Indicator operates based on the Average True Range (ATR) and a multiplier to identify trends.

• When the price is above the Supertrend line, it signals an uptrend.
• When the price is below the Supertrend line, it signals a downtrend.

This enhanced version goes a step further by adding these critical checks before confirming a trend reversal:

1. Price Distance Check from the Supertrend Line

   • The indicator monitors whether the price moves a distance equal to Fakeout ATR Mult x ATR away from the Supertrend line after a potential breach.
   • This ensures that the trend change is significant and not just a minor fluctuation.

2. Monitoring Price Action Over a Fixed Number of Bars

   • Controlled by the Fakeout Index Limit, this feature ensures the price remains below the Supertrend line (for a downtrend) or above it (for an uptrend) for a specific number of bars before confirming the trend reversal.

Easily customizable settings to suit your trading strategy:

• ATR Length: 14 
• ATR Multiplier: 3 
• Fakeout Index Limit: 5
• Fakeout ATR Mult: 1.5
• Fakeout Type: Choose the breakout type (High/Low or Close)

• Color-Coded Signals:

  • Bullish trends are marked in green.
  • Bearish trends are marked in red.

• Built-In Alert System:

  • On-screen notifications: Receive instant alerts directly on your platform.
  • Email notifications: Stay informed even when away from your desk.
  • Custom sound alerts: Supports personalized sound files for notifications.
  • Push notifications: Connect effortlessly to your mobile or other devices.

1. Reduce False Signals:
   The filtering mechanism, based on Fakeout ATR Mult and Fakeout Index Limit, minimizes the impact of market noise and false trend reversals.

2. Enhance Trading Efficiency:
   With more reliable trend signals, you can optimize your trading strategies and maximize profits.

3. High Customization:
   Flexible parameters allow traders to adapt the indicator to their unique trading styles.