alf0878502 wrote: ↑
Tue Jun 15, 2021 8:42 pm
I wanted to share an indicator that I made from the Supertrend a while ago. It is called the Supertrend averages explosion - SAE for short. Free source file for anyone who is interested to make any modification.
---What is this indicator---:
Where Red Line is the total distance traveled in points since the first direction change of the Supertrend.
White Line, which is the filter line, is the user defined % of the last trend maximum distance traveled in points.
Histogram simply display the current trend of the Supertrend, whether long or short.
---How to use---
Red Line > White Line and given Green Histogram, enter Buy Position.
Red Line > White Line and given Red Histogram, enter Short Position.
Don't enter a position when Red Line is below the White Line.
---File this indicator need---
SuperTrend Averages Explosion(SAE).ex4 - Attached, This is the main indicator(You use this one)
supertrend averages + alerts 2_1.ex4 - Attached, This is the file that main indicator needs to call to make calculation, it needs to be placed under the main indicator folder for iCustom Call.