SuperTrend + Stochastic / Owl of Profit

SuperTrend + Stochastic Strategy

This strategy combines the SuperTrend indicator with the Stochastic Oscillator to identify trend-following entry and exit points with momentum confirmation.

Features:
SuperTrend Indicator:

Uses ATR (Average True Range) to determine trend direction.
Factor: 3.0 (default).
ATR Length: 10 (default).
Indicates bullish (green) and bearish (red) trends.
Stochastic Oscillator:

Helps identify overbought and oversold conditions.
%K Length: 14 (default).
%D Length (Smoothing): 3 (default).
Overbought Level: 80 (default).
Oversold Level: 20 (default).
Entry and Exit Logic:
Long Condition:

SuperTrend indicates a bullish trend.
Stochastic %K crosses above the oversold level (20).
Short Condition:

SuperTrend indicates a bearish trend.
Stochastic %K crosses below the overbought level (80).
Exit Long:

SuperTrend changes to bearish.
OR Stochastic %K crosses below the overbought level (80).
Exit Short:

SuperTrend changes to bullish.
OR Stochastic %K crosses above the oversold level (20).
Visualization:
SuperTrend:

Plotted directly on the price chart with green and red colors indicating bullish and bearish trends.
Background color changes based on the trend direction.
Stochastic Oscillator:

%K and %D lines plotted in a separate pane with overbought (80) and oversold (20) levels highlighted.
%K is blue, and %D is orange for easy identification.
Alerts:
Not included in this script but can be added for buy and sell conditions to ensure no missed opportunities.
This strategy is ideal for traders looking to combine trend direction with momentum oscillators for more precise entries and exits. Use it for backtesting and refining your trading approach.

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Happy trading!