OPEN-SOURCE SCRIPT
Supertrend Channels [LuxAlgo]
The Supertrend is one of the most used indicators by traders when it comes to determining whether the market is up-trending or down-trending.
This indicator is displayed as a trailing stop, showing a lower monotonic extremity during up-trends and an upper monotonic extremity during down-trends. Today we propose a channel indicator based on the Supertrend trailing stop using trailing maximas/minimas.
Settings
Usage
The ability of the indicator to show an up-trend or down-trend is the same as the Supertrend, with rising channels when an up-trend is detected by the Supertrend and declining channels when a down-trend is detected by the Supertrend.
The look of the channels can remind of the Donchian channels indicator, and as such a similar usage can be appropriate. The extremities can for example be used as supports and resistances.
Additionally, the channel's average can be used to filter out noisy variations in the price while keeping a good distance from the price.
This indicator is displayed as a trailing stop, showing a lower monotonic extremity during up-trends and an upper monotonic extremity during down-trends. Today we propose a channel indicator based on the Supertrend trailing stop using trailing maximas/minimas.
Settings
- Length: Atr length used by the Supertrend indicator.
- Mult: Multiplicative factor for the Atr used by the Supertrend indicator.
Usage
The ability of the indicator to show an up-trend or down-trend is the same as the Supertrend, with rising channels when an up-trend is detected by the Supertrend and declining channels when a down-trend is detected by the Supertrend.
The look of the channels can remind of the Donchian channels indicator, and as such a similar usage can be appropriate. The extremities can for example be used as supports and resistances.
Additionally, the channel's average can be used to filter out noisy variations in the price while keeping a good distance from the price.
Notas de Lançamento
Minor changes.Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Get exclusive indicators & AI trading strategies: luxalgo.com
Free 150k+ community: discord.gg/lux
All content provided by LuxAlgo is for informational & educational purposes only. Past performance does not guarantee future results.
Free 150k+ community: discord.gg/lux
All content provided by LuxAlgo is for informational & educational purposes only. Past performance does not guarantee future results.
Aviso legal
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Get exclusive indicators & AI trading strategies: luxalgo.com
Free 150k+ community: discord.gg/lux
All content provided by LuxAlgo is for informational & educational purposes only. Past performance does not guarantee future results.
Free 150k+ community: discord.gg/lux
All content provided by LuxAlgo is for informational & educational purposes only. Past performance does not guarantee future results.
Aviso legal
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.