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Supertrend V1

This document provides the Pine Script code for a Supertrend indicator to generate buy and sell signals. The indicator calculates an upper and lower trend line based on a close price, average true range, and factor input. It then generates signals when the close price crosses above or below the trend lines, plotted as up and down arrows on the chart.

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480 views1 page

Supertrend V1

This document provides the Pine Script code for a Supertrend indicator to generate buy and sell signals. The indicator calculates an upper and lower trend line based on a close price, average true range, and factor input. It then generates signals when the close price crosses above or below the trend lines, plotted as up and down arrows on the chart.

Uploaded by

rohit
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as TXT, PDF, TXT or read online on Scribd
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//Author - Rajandran R

//www.marketcalls.in
study("Supertrend V1.0 - Buy or Sell Signal", overlay = true)

Factor=input(3, minval=1,maxval = 100)


Pd=input(7, minval=1,maxval = 100)

Up=hl2-(Factor*atr(Pd))
Dn=hl2+(Factor*atr(Pd))

TrendUp=close[1]>TrendUp[1]? max(Up,TrendUp[1]) : Up
TrendDown=close[1]<TrendDown[1]? min(Dn,TrendDown[1]) : Dn

Trend = close > TrendDown[1] ? 1: close< TrendUp[1]? -1: nz(Trend[1],1)


Tsl = Trend==1? TrendUp: TrendDown

linecolor = Trend == 1 ? green : red

plot(Tsl, color = linecolor , style = line , linewidth = 2,title = "SuperTrend")

plotshape(cross(close,Tsl) and close>Tsl , "Up Arrow",


shape.triangleup,location.belowbar,green,0,0)
plotshape(cross(Tsl,close) and close<Tsl , "Down Arrow", shape.triangledown ,
location.abovebar, red,0,0)
//plot(Trend==1 and Trend[1]==-1,color = linecolor, style = circles, linewidth =
3,title="Trend")

plotarrow(Trend == 1 and Trend[1] == -1 ? Trend : na, title="Up Entry Arrow",


colorup=lime, maxheight=60, minheight=50, transp=0)
plotarrow(Trend == -1 and Trend[1] == 1 ? Trend : na, title="Down Entry Arrow",
colordown=red, maxheight=60, minheight=50, transp=0)

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