How It Works
Simple SuperTrend
You may already know this powerful indicator. Based Average True Range, the SuperTrend will follow the current trend and act as a natural trailing stop before it reverses in the other direction. It is represented by the green and red line.
Double SuperTrend
You may also know that SuperTrend will sometimes give late signals, or reverse too often. That is why we came up with the Double SuperTrend strategy. The idea is to use a slow SuperTrend that will give the current trend direction, and a fast SuperTrend to give entry and exit points.
MTF ADX Filter
An optional feature to reduce signals in flat markets is the Multi-Time-Frame Average Directionnal Index. Any entry below a given threshold will be ignored.
Input Parameters
The slow and fast SuperTrend are easily configured for any market by two input parameters: "ATR multiplier" and "ATR Lookback".
How to use
How to backtest
You can backtest using the Strategy Tester which will give you a quick overview of the strategy results over the given period of time.
There is also a backtest panel built in the indicator that gives more detailed information such as the daily % or the Buy & Hold comparator.
Creating Alerts
The indicator is using the newest alert system:
1. Write your alert messages in the indicator settings (alert section at the bottom)
2. Click "Create Alert" as usual, but choose "alert() function calls only"
3. Give you alert a name
Link to Alert Setup Study Script
Link to Backtest Strategy Script
Private Discord Server: https://discord.gg/AwZVFDh
