Supertrend Indicator

Added the PSAR to my setup, played around with settings, thought it might be an addition, but doesn't really work, fast settings it chops around too much, slow setting the exit point quickly becomes a long way away, my method works by tight exits and good odds on continuation only.

Other than BB's, PSAR is the only indicator I keep occasionally going back to I trade via SMA and Envelopes only.
 
bone said:
I’m personally suspect of anything with the moniker “super”.
More...

So all the following things are suspicuous for you:
  • Super partner
  • Super job
  • Super kids
  • Super car
  • Super life
  • Super friends
  • Super holidays
  • etc...
I think you have a mediocre life. But as you don’t like "super" you probably are happy with it.
You should think before using oneliners. Oneliners sound always good... until you start to think...

Even without the word "super" things can be suspicious.
 
schweiz said:
So all the following things are suspicuous for you:
  • Super partner
  • Super job
  • Super kids
  • Super car
  • Super life
  • Super friends
  • Super holidays
  • etc...
I think you have a mediocre life. But as you don’t like "super" you probably are happy with it.
You should think before using oneliners. Oneliners sound always good... until you start to think...

Even without the word "super" things can be suspicious.
More...

Super post.
 
John9999 said:
Who is using this indicator? It is very interesting. It gives a level for stops of either long or short as I have circled on my chart from Sierra...

If you are using it,, how so pleaseView attachment 189948 ?
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I'm looking through some volatility based indicators and one of them is supertrend. Found this thread and decided to comment on it lol

Based on the screenshot, I can tell the formula used in this indicator is wrong. Supertrend is usually calculated as

avg +/- atr(factor)
usually avg = (h+l)/2

the uptrend/downtrend gets updated ONLY when the average of price has moved in direction of the trend.

SO in this case i marked the black dots where the uptrend should've been updated. The rest of the time, uptrend should've stayed flat.

But in this pic you see it just keeps getting closer to price which I think it's a wrong rendition of this indicator.

upload_2023-2-23_8-23-27.png


This is what it's supposed to do when price retraces

upload_2023-2-23_8-34-28.png


Usually I like longer atr period and also bigger factor constant since you want to take into account sideways market. Since I don't believe in ideal entries, it's fine to have a scale in within the trend as long as you don't overdo it.

Imagine someone looks at an indicator that's programmed incorrecly and never bothered looking into it cause they think it's crap. Opportunity to learn lost forever..
 
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