"AV SuperTrend MT5" is an indicator for MetaTrader 5. The supertrend indicator is popular for determining the trend and positioning stops or as trailing support. I use this indicator in several expert advisors for trend analysis.
Supertrend indicator signals can be selected in the form of entry arrows and notifications, as well as various sounds.
Settings:
- Period
- Multiplier
- Alert buy signal: arrow color
- Alert sell signal: arrow color
- Alert yes/no
- Sound: choice or no
- Email yes/no
- Push message yes/no
- Trailing line: width and style
- Trailing line: buy color
- Trailing line: sell color
- Trailing line: trend change color (None possible)
Especially the multiplier is used to get the line closer to the price or further away.
I heard the tip that you should use 3 x supertrends in the chart to better identify sideways phases.
Sideways phases can be avoided by all 3 supertrends having to show the same trend direction.
Settings 3 x SuperTrend for sideways phases:
- Period each 10
- 1 x multiplier: 1.0
- 1 x multiplier: 2.0
- 1 x multiplier: 3.0
