Someone requested the strategy version of the Supertrend indicator
It's a Supertrend not based on candle close but based on a ( )
How does it work?
Bull event: crossing over the 0 line
Bear event: crossing below the 0 line
When the event is triggered, the script will plot the Supertrend as follow
UP Trend = High + ATR * Factor
DOWN Trend = Low - ATR * Factor
This is an alternative of the classical Supertrend based on candle close being above/beyond the previous Supertrend level.
Hope you'll enjoy it and it will improve your trading making you a better trader
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.
means the opened short is closed, and a trade in the opposite direction is opened
that's how the Tradingview strategy engine signals those events.