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Double ST

This indicator is based on a combination of 2 different SuperTrend, a trend following indicator developed by Oliver Seban.

You can find some implementation in the following pages:

https://www.mql5.com/en/code/8268

https://www.mql5.com/en/code/10851

and others.

Double ST indicator combines 2 different SuperTrends to have the trend direction at a glance.

Simply insert the values for the 2 SuperTrends and you will see a ribbon with 3 different colors:

  • red means that price is under both the SuperTrends (downward trend)
  • yellow means that price is in between the SuperTrends (no clear trend)
  • green means that price is over both the SuperTrends (upward trend)

Parameters (default value in parenthesis):

  • Supertrend1 Period: period for SuperTrend #1 (10)
  • Supertrend1 Multiplier: multiplier for SuperTrend #1 (1.7)
  • Supertrend2 Period: period for SuperTrend #2 (50)
  • Supertrend2 Multiplier: multiplier for SuperTrend #2 (3.5)
  • Alarm Presence: alarm if last closed bar changes the indicator color (true)
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