bennef

Super Trend Daily 2.0 BF 🚀

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This is my Super Trend Daily strategy but with one important difference. You can now adjust settings for long or short signals individually and separately. For example, the condition for a long signal may require a different parameter setting than the condition for a short signal. Each parameter in the signal generation can be tuned. You can also decide what kind of stop loss you want for each side - you could have a fixed stop loss for longs and an ATR derived stop loss for shorts, or whatever.

We also have the option to choose if we want longs, shorts or both.

INISTRUCTIONS
Look at the background colors:
Green line = long signal
Red line = short signal
Aqua = No long trades
White = No short trades
Yellow dotted line = stop loss for long
Orange dotted line = stop loss for short

The aqua and white backgrounds mean the conditions are choppy/sideways according to our settings we applied to the rate of change function for a long/short signal respectively. It is possible to get a long signal in a white background, but not a short signal. Similarly, it is possible to get a short signal in an aqua background, but not a long signal.

This is a work in progress so any suggestions for improvements are welcome.
Release Notes: Added a fill to the plotting section to better visualise long and short positions. Changed stop loss lines to solid instead of dotted.
Open-source script

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.

Want to use this script on a chart?

Kommentarer

Hi, I tried this strategy but it is not working NSE:BankNifty.
Could you please tell the exact setting to be done?
+14 Svara
How do I put this on my platform?
+1 Svara
bennef Malesela_Seshib
@Malesela_Seshib, You can add it to your charts in TradingView by Adding it to your favorites. Just click the button.
+1 Svara
@bennef, Thank you, it works
Svara
your code is very clean but it would be helpful if you provided more notation to explain what different pieces of code are doing. could you add the theory for this strategy also please?
+1 Svara
Very nice work @bennef I will play with this strategy and let you know if I find any ways to improve upon it. Philosophically I agree with your approach, the best traders in the world figure out how to follow the trend and mitigate the swings when market is sideways.
+1 Svara
bennef whitenightLBC
@whitenightLBC, It is just one strategy. To me trading is just statistics; we cannot predict the future, we can only make an educated guess based on past behaviour. It is certainly a good start to follow the trend. Thank you for the comment.
+6 Svara
amazing bro can u make it multi time frame
Svara
I'm a little confused because on this chart and min I see short and long signals on the white background?
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