Stochastic SuperTrend MT5 Scanner
- Indicators
- Duc Hoan Nguyen
- Version: 1.0
- Activations: 10
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See more MT5 version at: Stochastic SuperTrend MT5 Scanner
See more MT4 version at: Stochastic SuperTrend MT4 Scanner
See more products at: All Products
CONCEPTS
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Stochastic RSI: Measures momentum by applying stochastic calculations to the RSI line instead of price.
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SuperTrend Bands: Dynamic upper/lower bands drawn around the smoothed Stochastic RSI using a user-defined multiplier.
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Momentum Direction: The trend changes when the smoothed Stochastic RSI crosses above/below the calculated bands.
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Signal Filter: Directional arrows appear only when momentum rises above the overbought level (default 70) or falls below the oversold level (default 30).
FEATURES
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Trend Detection on the Oscillator: Applies SuperTrend logic directly to the Stochastic RSI curve.
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Entry Signals:
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Prints an up arrow when the trend turns bullish below the oversold level (30), indicating a potential bottom reversal.
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Prints a down arrow when the trend turns bearish above the overbought level (70), indicating a potential top reversal.
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Custom Multiplier: Adjusts the spacing of SuperTrend bands around the oscillator.
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Show/Hide SuperTrend Line: Option to show or hide the SuperTrend trail on the Stochastic RSI.
HOW TO USE
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Use up-arrow signals for potential bottom reversals when momentum turns bullish from oversold regions.
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Use down-arrow signals for potential top reversals when momentum turns bearish from overbought areas.
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May be combined with price-based SuperTrend or support/resistance zones for additional confirmation.
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Applicable to scalping, swing trading, or momentum filtering across multiple timeframes.
SCANNER AND ALERTS
Users can turn on/off the scanner to monitor other charts quickly.
The indicator has signal alerts when Buy/Sell signal appear, Trend Shift to Bullish/Bearish arrows appear, users can easily grasp market information with these alerts (especially when using Scanner)
CONCLUSION
Stochastic SuperTrend focuses on momentum shifts and directional changes on the oscillator. It can assist with spotting reversals, filtering entries, and observing possible trend exhaustion.