Supertrend indicator uses a combination of a moving average and average true range to detect the trend of a trading instrument.
Supertrend indicator for MetaTrader 5 easily shows the trend as a line following the price.
USAGE THIS INDICATOR
If the closing prices are above Supertrend Line, there is a Bullish sentiment at that moment. The opposite is a Bearish sentiment. Three green lines – Strong Bullish sentiment. Three red lines – Bearish sentiment.
For BUY :
– Three green lines and price above EMA (200)
– Stop Loss below last supertrend red line.
For SELL:
– Three red lines and price bellow EMA (200)
– Stop Loss above last supertrend green line.
Some traders use the Supertrend Line as a Stop Loss boundary.
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