Super Trend For Ninja Trader Needed

[vrathee]

I made some cosmetic tweaks to SuperTrend.

Enjoy!

Thanks Elliot

I was just thinking of putting the same message of paintaing Bars as and when buy and sell occurs.

Regards

Vinkal

[vrathee]

Hi Elliot

ST has been profitable for me but got one question. When to exit a profitable trade? I miss many a pips just because of this issue. Which indicator should be used with Super Trend.

Is it possible to Plot 2 kind of settings on one chart. Like 14,4 setting and 14,3 setting on one chart?

Regards

[Elliott Wave]

Hi Elliot

ST has been profitable for me but got one question. When to exit a profitable trade? I miss many a pips just because of this issue. Which indicator should be used with Super Trend.

Is it possible to Plot 2 kind of settings on one chart. Like 14,4 setting and 14,3 setting on one chart?

Regards

Using more than one instance at once could be helpful, but this is a tough question, with no easy answers. You might want to check the forexfactory forums as there is considerable focus on system development/trading methodologies and you can get an idea of what other people are using.

The nature of this indicator is that it will get you into, and keep you into major trends, but like any system/indicator there will be whipsaws and false entries. The wins should more than make up for the losses over time. One thing to avoid is not letting your profits run.

If you want you could try something like the CCI (period ~34) to help with exits. You might also try looking at the slope of a moving average and exiting after it has gone to extreme levels and started to move the other way...

Pretty much any indicator based on price will have lag so try to incorporate things like fibonacci retracements and time extensions which can help with the future rather than painting the past...

There's a million things you could try, and you may find after trying many of them your results aren't any better. And try to avoid the trap of curve-fitting, trying to catch every move with and optimal entry/exit. In the real world it rarely works that way, otherwise many of us would've been rich long ago...

[vrathee]

Using more than one instance at once could be helpful, but this is a tough question, with no easy answers. You might want to check the forexfactory forums as there is considerable focus on system development/trading methodologies and you can get an idea of what other people are using.

The nature of this indicator is that it will get you into, and keep you into major trends, but like any system/indicator there will be whipsaws and false entries. The wins should more than make up for the losses over time. One thing to avoid is not letting your profits run.

If you want you could try something like the CCI (period ~34) to help with exits. You might also try looking at the slope of a moving average and exiting after it has gone to extreme levels and started to move the other way...

Pretty much any indicator based on price will have lag so try to incorporate things like fibonacci retracements and time extensions which can help with the future rather than painting the past...

There's a million things you could try, and you may find after trying many of them your results aren't any better. And try to avoid the trap of curve-fitting, trying to catch every move with and optimal entry/exit. In the real world it rarely works that way, otherwise many of us would've been rich long ago...

Hi Elliot

Can you post some trades which show the Exit and entry points using CCI 34 along with Super Trend.

Thanks in Advance

Regards

[Elliott Wave]

Hi Elliot

Can you post some trades which show the Exit and entry points using CCI 34 along with Super Trend.

Thanks in Advance

Regards

This is just a quick example, showing how they can line up on a chart. Often the using the CCI as a filter can help get you out a few bars earlier and when they both change within 1-2 bars could be considered a more 'valid' signal than if only one changes. You could probably re-enter using the CCI in the direction of the SuperTrend, but I probably wouldn't trade the CCI in the opposite direction of ST.

You could also try QQE and ADX as part of a system with SuperTrend, but whether or not it actually improves things any would need testing.

http://shup.com/Shup/90886/STCCI.jpg

[RJay]

Elliot,

Love that remark about "curve following".

I admit to doing a lot of research in this area.

In regards to indicators "not directly involved with price topic",

Have you worked with Volume indicators at all?

I'm thinking I should give them a little more attention.

I have been giving them a low priority until now.

Rjay

[Elliott Wave]

I use 'BetterVolumeBeta' quite often. Volume in the FX market is quite cyclical and the low volume times usually range or consolidate rather than trend. The red climax bars can also be a very good indication of a potential trend reversal especially if they coincide with Fibonacci levels.

Also In the previous chart I posted you can see the most recent move stopped almost exactly at the 123% extension level that had been calculated and fixed for 3 days. I see this type of thing countless times which has led me to make Fibonacci an increasingly large part of how I view the markets.

At the moment I'm reading Van Tharp's book, 'Trade Your Way to Financial Freedom' which so far is EXCELLENT, and I don't plan to trade again until I've digested it completely and can put into practice the wisdom it contains....

[Anagoge]

I took a quick look at this SuperTrend indicator, but it seems to have one problem, unless I'm misunderstanding things. The first trend indication line it draws seems to be based on the closing price of the first "real" bar it processes after the "leadin" bars (bars before ATR length # of bars are processed), so even a tiny decline of $0.01 on that first real bar sets the indicator to think it is in a downtrend, even if all previous bars were up $1.00. Would it be better to set the initial trend signal based on the first real bar's close compared to the very first leadin bar or something similar?

It might also be good to set the Trend dataseries to public, so it could be accessed inside a strategy.

[RJay]

I took a quick look at this SuperTrend indicator, but it seems to have one problem, unless I'm misunderstanding things. The first trend indication line it draws seems to be based on the closing price of the first "real" bar it processes after the "leadin" bars (bars before ATR length # of bars are processed), so even a tiny decline of $0.01 on that first real bar sets the indicator to think it is in a downtrend, even if all previous bars were up $1.00. Would it be better to set the initial trend signal based on the first real bar's close compared to the very first leadin bar or something similar?

It might also be good to set the Trend dataseries to public, so it could be accessed inside a strategy.

Anagoge,

This is how I see it...

The update for each bar takes place at the close of that bar period.

The arrow and the color for that bar are added at that time.

So in fact, one whole bar's data has been collected to calculate the reversal indication.

Since the default is a 14 bar moving average, a .01 drop from the previous bar after a series of up bars would not trigger a reversal.

Just my viewpoint, In any case, I reserve the right to be wrong in pursuit of the truth.

RJay

[roonius]

Thanks - that makes perfect sence. Made modifications.

I took a quick look at this SuperTrend indicator, but it seems to have one problem, unless I'm misunderstanding things. The first trend indication line it draws seems to be based on the closing price of the first "real" bar it processes after the "leadin" bars (bars before ATR length # of bars are processed), so even a tiny decline of $0.01 on that first real bar sets the indicator to think it is in a downtrend, even if all previous bars were up $1.00. Would it be better to set the initial trend signal based on the first real bar's close compared to the very first leadin bar or something similar?

It might also be good to set the Trend dataseries to public, so it could be accessed inside a strategy.

[Mauro60]

when the trend turns in UP are experiencing this error.
I can not save the workspace because it gives me error "serializing indicators."
Sorry for my bad English!

[roonius]

Yes... I did now it, but forgot to fix it
Now it's fixed... redownload 1.6 version from the post below.

when the trend turns in UP are experiencing this error.
I can not save the workspace because it gives me error "serializing indicators."
Sorry for my bad English!

[Mauro60]

Yes... I did now it, but forgot to fix it
Now it's fixed... redownload 1.6 version from the post below.

thank you very much, even today I learned something.
Best regards

[ctrlbrk]

Guys this thread has been awesome, please keep it up. I was wondering if anyone would share even a very basic strategy built using this indicator, as I have had a hard time making anything work well and perhaps I am approaching it from the wrong angle.

[roonius]

Guys this thread has been awesome, please keep it up. I was wondering if anyone would share even a very basic strategy built using this indicator, as I have had a hard time making anything work well and perhaps I am approaching it from the wrong angle.

I just made a Trend value avilable for strategies:

usage:
if (SuperTrend (Close, 14, 2.618).Trend[0] && !SuperTrend (Close, 14, 2.618).Trend[1])
{

// Do something bullish

}

if (!SuperTrend (Close, 14, 2.618).Trend[0] && SuperTrend (Close, 14, 2.618).Trend[1])
{

// Do something bearish

}

Attached you'll find a simplest strategy using SuperTrend 1.7