iGROW_Supertrend Strategy
This iGROW_Supertrend Strategy is based on the very popular and widely used indicator Supertrend. Supertrend is one of the most common ATR based trailing stop indicator. The Average True Range (ATR) plays an important role in 'Supertrend' as the indicator uses ATR to calculate its value.
In this Supertrend strategy, 3 Supertrends have been used with different Average True Ranges (ATRs) out of which 2 Supertrends in green/red color acts as a strong support (when price is above the channel) and resistance (when price is below the channel) and help users to determine the breakouts/breakdowns, to protect users from false breakouts/breakdowns and to set stop losses (especially trailing stops) accordingly.
1. Prefer to buy when price closes above this channel.
2. Prefer to sell when price closes below this channel.
3. Prefer to avoid trading when price is within the channel.
4. 3rd Supertrend in blue line or Pivot Point Traditional is used for target.
5. The best part of this indicator is for setting of stop losses or trailing stops. For stoploss in buying trade use that Supertrend which is just below the price and for stoploss in sell trade use that Supertrend which is just above the price.
6. This indicator works on any time frame - minutes to hours to weeks. But best time frame for using this strategy is 30 min.
The indicator is easy to use and gives an accurate reading about an ongoing trend or shifting of the trend from descending mode to ascending mode and vice-versa. You will get better results by combining it with another indicator like an CCI, RSI or MACD.
Message me if you would like access and leave a comment that is helpful or encouraging. Let's master the markets together.
Note:- As always it is meant only as a visual guide to assist you with your trading. Not a trading advice. You are advised to consult your financial adviser before taking any trade or investment decision.
In this Supertrend strategy, 3 Supertrends have been used with different Average True Ranges (ATRs) out of which 2 Supertrends in green/red color acts as a strong support (when price is above the channel) and resistance (when price is below the channel) and help users to determine the breakouts/breakdowns, to protect users from false breakouts/breakdowns and to set stop losses (especially trailing stops) accordingly.
1. Prefer to buy when price closes above this channel.
2. Prefer to sell when price closes below this channel.
3. Prefer to avoid trading when price is within the channel.
4. 3rd Supertrend in blue line or Pivot Point Traditional is used for target.
5. The best part of this indicator is for setting of stop losses or trailing stops. For stoploss in buying trade use that Supertrend which is just below the price and for stoploss in sell trade use that Supertrend which is just above the price.
6. This indicator works on any time frame - minutes to hours to weeks. But best time frame for using this strategy is 30 min.
The indicator is easy to use and gives an accurate reading about an ongoing trend or shifting of the trend from descending mode to ascending mode and vice-versa. You will get better results by combining it with another indicator like an CCI, RSI or MACD.
Message me if you would like access and leave a comment that is helpful or encouraging. Let's master the markets together.
Note:- As always it is meant only as a visual guide to assist you with your trading. Not a trading advice. You are advised to consult your financial adviser before taking any trade or investment decision.
Versionsinformation:
minor bug update