OPEN-SOURCE SCRIPT
[VJ] Mega Supertrend for Intraday
This is a simple intraday strategy for working on Stocks or commodities based out on Super Trend and intraday's best friend - VWAP . You can modify the start time and end time based on your timezones. Session value should be from market start to the time you want to square-off
Important: The end time should be at least 2 minutes before the intraday square-off time set by your broker
Comment below if you get good returns
Strategy: Tweaked Super trend with VWAP
Indicators used :
Super trend is simple and easy to use indicator and gives a precise reading about an on going trend.It is built with two parameters, namely period and multiplier.The Buy and Sell signal modifies once the indicator tosses over the closing price. When the Super trend closes above the Price, a Buy signal is generated, and when the Super trend closes below the Price, a Sell signal is generated. In this case we use it only for direction .
Multiplier is a vital input for Super trend. If the multiplier value is too high, then lesser number of signals is made.
Volume is important as we don’t want to get stuck with a stock which has few takers, even if you think it is priced attractively. Thus, the VWAP was created to take into account both volume as well as Price so that the potential trader would make the trading decision or not.
In simple terms, the Volume Weighted Average price is the cumulative average price with respect to the volume
Buying/Selling
when the closing price starts moving up/down and farther from the VWAP, there is pressure among the traders to sell/buy, a general belief kicks in that it might be that the stock is overvalued/undervalued .This is the time when we couple the Super trend to take our entries
Usage & Best setting :
Choose a good volatile stock and a time frame - 5m.
ST multiplier : 3
There is stop loss and take profit that can be used to optimise your trade
The template also includes daily square off based on your time.
Important: The end time should be at least 2 minutes before the intraday square-off time set by your broker
Comment below if you get good returns
Strategy: Tweaked Super trend with VWAP
Indicators used :
Super trend is simple and easy to use indicator and gives a precise reading about an on going trend.It is built with two parameters, namely period and multiplier.The Buy and Sell signal modifies once the indicator tosses over the closing price. When the Super trend closes above the Price, a Buy signal is generated, and when the Super trend closes below the Price, a Sell signal is generated. In this case we use it only for direction .
Multiplier is a vital input for Super trend. If the multiplier value is too high, then lesser number of signals is made.
Volume is important as we don’t want to get stuck with a stock which has few takers, even if you think it is priced attractively. Thus, the VWAP was created to take into account both volume as well as Price so that the potential trader would make the trading decision or not.
In simple terms, the Volume Weighted Average price is the cumulative average price with respect to the volume
Buying/Selling
when the closing price starts moving up/down and farther from the VWAP, there is pressure among the traders to sell/buy, a general belief kicks in that it might be that the stock is overvalued/undervalued .This is the time when we couple the Super trend to take our entries
Usage & Best setting :
Choose a good volatile stock and a time frame - 5m.
ST multiplier : 3
There is stop loss and take profit that can be used to optimise your trade
The template also includes daily square off based on your time.
Script de código aberto
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
Script de código aberto
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.