Super_Trend
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This indicator is designed to help traders visually identify and follow market trends by plotting specific lines on a price chart. It acts as a dynamic guide that changes based on the momentum of the market, helping to distinguish between upward and downward movements.
Core Logic and Behavior
The script operates by analyzing two primary factors: market momentum (via a technical indicator called CCI) and price action (the actual highs and lows of the candles).
1. Dynamic Trend Detection The tool constantly monitors "momentum." When the momentum shifts from negative to positive, the logic signals a potential upward trend. Conversely, when it shifts from positive to negative, it signals a potential downward trend. To ensure these signals are reliable, the script uses different sensitivity settings depending on the timeframe you are viewing (e.g., different rules apply for a 1-minute chart versus a Daily chart).
2. Smart Line Plotting Instead of simply drawing a line at a fixed price, the indicator calculates where to place its lines based on the "buffer" room provided by your settings:
- In an Upward Trend: The script places a green line below the current price. It is designed to be "sticky"; it will stay flat unless the market price drops significantly or a new low is established, ensuring the trend line doesn't move erratically with every small price flicker.
- In a Downward Trend: The script places a red line above the current price. Similarly, this line remains steady as long as the market holds its ground, only adjusting if the price pushes higher in a way that contradicts the current downward movement.
3. Automatic Adaptability A key feature of this logic is its ability to adapt to different trading styles. It includes an "Automatic Timeframe" setting. This means that if you switch from viewing short-term fluctuations to long-term trends, the indicator automatically recalculates its internal math to match the appropriate scale of those timeframes.
Summary for the User
Essentially, this script acts as a "smart floor" or "smart ceiling." It identifies which way the market is moving and draws a line that follows that movement. By looking at the color and position of these lines, you can quickly see if the current market environment is bullish (green line below price) or bearish (red line above price), while the script handles the complex calculations of momentum and price buffers in the background.
//+------------------------------------------------------------------+
//| Supertrend.mq4 |
//| Copyright © 2005, Jason Robinson (jnrtrading). |
//| http://www.jnrtrading.co.uk |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2005, Jason Robinson (jnrtrading)."
#property link "http://www.jnrtrading.co.uk"
#property indicator_chart_window
#property indicator_buffers 2
#property indicator_color1 MediumSpringGreen
#property indicator_color2 Red
double TrendUp[];
double TrendDown[];
double NonTrend[];
int st = 0;
int UpDownShift;
extern int TrendCCI_Period = 14;
extern bool Automatic_Timeframe_setting;
extern int M1_CCI_Period = 14;
extern int M5_CCI_Period = 14;
extern int M15_CCI_Period = 14;
extern int M30_CCI_Period = 14;
extern int H1_CCI_Period = 14;
extern int H4_CCI_Period = 14;
extern int D1_CCI_Period = 14;
extern int W1_CCI_Period = 14;
extern int MN_CCI_Period = 14;
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- indicators
SetIndexStyle(0, DRAW_LINE, 0, 2);
SetIndexBuffer(0, TrendUp);
SetIndexStyle(1, DRAW_LINE, 0, 2);
SetIndexBuffer(1, TrendDown);
switch(Period()) {
case 1: UpDownShift = 3; break;
case 5: UpDownShift = 5; break;
case 15: UpDownShift = 7; break;
case 30: UpDownShift = 9; break;
case 60: UpDownShift = 20; break;
case 240: UpDownShift = 35; break;
case 1440: UpDownShift = 40; break;
case 10080: UpDownShift = 100; break;
case 43200: UpDownShift = 120; break;
}
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//----
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
int limit, i, cciPeriod;
double cciTrendNow14, cciTrendPrevious14, cciTrendNow, cciTrendPrevious;
int counted_bars = IndicatorCounted();
//---- check for possible errors
if(counted_bars < 0) return(-1);
//---- last counted bar will be recounted
if(counted_bars > 0) counted_bars--;
limit=Bars-counted_bars;
if (Automatic_Timeframe_setting == true) {
switch(Period()) {
case 1: cciPeriod = M1_CCI_Period; break;
case 5: cciPeriod = M5_CCI_Period; break;
case 15: cciPeriod = M15_CCI_Period; break;
case 30: cciPeriod = M30_CCI_Period; break;
case 60: cciPeriod = H1_CCI_Period; break;
case 240: cciPeriod = H4_CCI_Period; break;
case 1440: cciPeriod = D1_CCI_Period; break;
case 10080: cciPeriod = W1_CCI_Period; break;
case 43200: cciPeriod = MN_CCI_Period; break;
}
}
else {
cciPeriod = TrendCCI_Period;
}
/*switch(cciPeriod) {
case 14: break;
}*/
//cciPeriod = TrendCCI_Period;
SetIndexLabel(0, ("TrendUp " + cciPeriod));
SetIndexLabel(1, ("TrendDown " + cciPeriod));
for(i = limit; i >= 0; i--) {
cciTrendNow = iCCI(NULL, 0, cciPeriod, PRICE_TYPICAL, i) + 70;
cciTrendPrevious = iCCI(NULL, 0, cciPeriod, PRICE_TYPICAL, i+1) + 70;
//cciTrendNow50 = iCCI(NULL, 0, 50, PRICE_TYPICAL, i) + 70;
//cciTrendPrevious50 = iCCI(NULL, 0, 50, PRICE_TYPICAL, i+1) + 70;
if (cciTrendNow > st && cciTrendPrevious < st) {
TrendUp[i+1] = TrendDown[i+1];
//TrendDown[i] = EMPTY_VALUE;
}
if (cciTrendNow < st && cciTrendPrevious > st) {
TrendDown[i+1] = TrendUp[i+1];
//TrendUp[i] = EMPTY_VALUE;
}
if (cciTrendNow > 0) {
TrendUp[i] = Low[i] - Point*UpDownShift;
TrendDown[i] = EMPTY_VALUE;
if (Close[i] < Open[i] && TrendDown[i+1] != TrendUp[i+1]) {
TrendUp[i] = TrendUp[i+1];
}
if (TrendUp[i] < TrendUp[i+1] && TrendDown[i+1] != TrendUp[i+1]) {
TrendUp[i] = TrendUp[i+1];
}
if (High[i] < High[i+1] && TrendDown[i+1] != TrendUp[i+1]) {
TrendUp[i] = TrendUp[i+1];
}
}
else if (cciTrendNow < 0) {
TrendDown[i] = High[i] + Point*UpDownShift;
TrendUp[i] = EMPTY_VALUE;
if (Close[i] > Open[i] && TrendDown[i+1] != TrendUp[i+1]) {
TrendDown[i] = TrendDown[i+1];
}
if (TrendDown[i] > TrendDown[i+1] && TrendDown[i+1] != TrendUp[i+1]) {
TrendDown[i] = TrendDown[i+1];
}
if (Low[i] > Low[i+1] && TrendUp[i+1] != TrendDown[i+1]) {
TrendDown[i] = TrendDown[i+1];
}
}
}
//----
//----
return(0);
}
//+------------------------------------------------------------------+
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