KT SuperTrend is a modified version of the classic SuperTrend indicator with new useful features. Whether its Equities, Futures, and Forex, the beginners' traders widely use the Supertrend indicator.
Buy Signal: When price close above the supertrend line.
Sell Signal: When price close below the supertrend line.
Features
- A multi-featured SuperTrend coded from scratch.
- Equipped with a multi-timeframe scanner.
- The last signal direction and entry price showed on the chart.
- All kinds of MetaTrader alerts are implemented.
SuperTrend Formula
Supertrend upper and lower bands are calculated using the combination of median price and Average True Range(ATR) with a multiplier.
Median Price = (High + Low)/2
ATR with multiplier = Multiplier*ATR
Pro Tip
- It's a hardcore lagging indicator. The entry opportunities occur very late.
- It is not sensible to use the supertrend as a standalone entry signal.
- It fails drastically during the sideways market.
