Super Trend Indicator
Super Trend is a trend following indicator similar to Moving Average. It is plotted on the price and the current trend can be determined by the price relative to its placement. It is a very simple indicator and it is created with the help of only two parameters- period and multiplier.
When we create the Supertrend indicator strategy, the default parameters are 10 for Average True Range (ATR) and 3 for multiplier. Average True Range (ATR) plays an important role in ‘Supertrend’ as the indicator uses ATR to calculate its value and it signals price volatility.
Super Trend Indicator Best Settings For Intraday
To use this indicator, you need to open a chart of a particular stock that you want to track and set a period of 10 minutes during intraday trading.You can use any proper charting software. After opening the chart, insert Supertrend and keep the settings 10 and 3.You also can input your very own settings. However, while you are using this indicator, you should not avoid your stop loss. For a long position, you can place a stop loss on the green indicator line. For a short position, you can place it on the red indicator line. Using Supertrend with stop-loss pattern is the best way to get the best wealth in trading.
What are the parameters for Supertrend Indicator?
The default parameters are 10 and a duration of 3.
You should note that any changes in these numbers may affect the use of the Supertrend indicator. There isn’t any satisfactory placement for any buying and selling indicator.
Also, the more settings you change, the more over-optimized the trading system may become for that point in time. You need to observe the subsequent points;
Smaller settings can make the indicator more reactive to price, meaning more signals.
Higher settings will remove noise from the market at the risk of less trading signals
How to Identify Buy and Sell Signals Using Supertrend Indicator?
Super Trend works beautifully in trending markets (both uptrend and downtrend) as it is a trending indicator. A buy-sell signal is easily identified when the indicator reverses to the close price. A buy signal is created when the super trend closes below the price and the color turns green.
On the other hand, a sell signal is created when the super trend closes above the price and the color of the super trend turns red. There is no technical indicator that can be 100% accurate and there is also a super trend. Although it gives less false signals compared to other indicators, it also generates false signals in sideways markets.So you could integrate Super Trend with different signs to get higher buying and selling signals.
Trading strategy using supertrend and moving average crossover
This is the fine EMA crossover for intraday. This method essentially includes notable fashion and 5-20 EMA crossover. A buy signal is created when the super trend turns green (meaning the super trend is below the price) and the 5 EMA is above the 20 EMA. Similarly, a sell signal is generated when the super trend turns red (i.e. the super trend is above the price) and the 20 EMA is above the 5 EMA.
Below is the chart of Nifty. Buy signals are shown with the help of green arrows and sell signals are shown with the help of red arrows. You can see in the chart that based on this strategy you can catch really big moves and place the stop loss behind with the help of super trend to protect your profit.
Best Timeframe
For swing traders and position holders, they can use longer periods.
This indicator can also be used on multiple timeframes where you place it on a larger timeframe then move to a lower timeframe and use it for entry and exit signals.
The shortest timeframe you should use is the 15-minute chart.
Advantages and Disadvantages of Supertrend Indicator
Supertrend provides accurate signals at the correct time. Also, the indicator is available for free on various trading platforms.
The indicator helps intraday traders make quick decisions. It is easy to use and understand. However, the indicator is not suitable for all phases of the market, it works best when the market is trending.
You can watch the following video to get a better idea of the concept and usage of supertrend indicator: A super trend indicator can be used on equity, forex or futures on various time frames including hourly, daily, weekly etc.
However, Super Trend must be used in conjunction with other indicators like RSI, Parabolic SAR, MACD, etc. to obtain filtered signals.
Furthermore, a supertrend also acts as a trailing stop-loss for an existing trade and acts as a strong support or resistance.
Supertrend indicator settings for intraday
Unlock the secrets of successful intraday trading with our Supertrend Indicator Settings! Designed for traders seeking precision and profitability, our Supertrend settings redefine the game of intraday trading.
Picture this: a tool that empowers you to navigate the volatile intraday market with confidence. Our Supertrend Indicator Settings for intraday are meticulously crafted to provide you with a winning edge. Activate your trading prowess with a few simple configurations, and watch as the Supertrend becomes your trusted companion in the world of intraday dynamics.
What sets our Supertrend Indicator Settings apart is their adaptability. Tailor the settings to align with your unique trading style. Whether you’re a conservative trader or someone who thrives on taking calculated risks, our Supertrend settings are flexible enough to suit your preferences. Activate the indicator, adjust the parameters, and let it work its magic.
Navigating the complexities of intraday trading requires a tool that keeps pace with the rapid market changes. Our Supertrend settings ensure that you stay ahead of the curve. The active voice of our settings propels you into the heart of the intraday action, giving you real-time insights that can make all the difference.
