1st it exactly looks like the original Supertrend indicator. But if you see the options, you can see it is totally different:
It uses my other indicator inside: Zero Lag Keltner Channels, so you can use smoothed ATR bands for calculation instead of the raw ATR. By default it's length is 1 so it works like the original Supertrend.
You can choose different sources and moving averages for Keltner Channel calculation
It can filter outliers in ATR calculation
The indicator code is in my TAExt library, so it can easily be used in custom strategies.
this is awesome i love it has made a huge impact in my trading this one is so uch more relaible then any of the other supertrends out there thank you for creating this cheers from british columbia canada
TheBacktestGuy
⋅
@CodyMaki, Thank you! By default it should be the same as other SuperTrend indicators. But it has more parameters to try. Just by setting high for Upper source and low for Lower source, it is better in my opinion.
Orph5781
⋅
wonderful script!!!! do you know if there is some kind of optimizer (or at least backtester in tradingview) so to simultaneously analyze/optimize performance with several different settings? thanks!