“AV SuperTrend” is an indicator for MetaTrader 4. The supertrend indicator is popular for determining the trend and positioning stops or as trailing support. I use this indicator in several expert advisors for trend analysis.
Supertrend indicator signals can be selected in the form of entry arrows and notifications, as well as various sounds.
Settings:
– Period
– Multiplier
– Alert buy signal: arrow color
– Alert sell signal: arrow color
– Alert yes/no
– Sound: choice or no
– Email yes/no
– Push message yes/no
– Trailing buy line (color, width and style)
– Trailing sell line (color, width and style)
Especially the multiplier is used to get the line closer to the price or further away.
I heard the tip that you should use 3 x supertrends in the chart to better identify sideways phases.
Sideways phases can be avoided by all 3 supertrends having to show the same trend direction.
Settings 3 x SuperTrend for sideways phases:
– Period each 10
– 1 x multiplier: 1.0
– 1 x multiplier: 2.0
– 1 x multiplier: 3.0