This script is an easy-to-use trend indicator, which is based on another popular indicator called "Supertrend". The basic idea is very simple, i.e. to compute Average True Range(ATR) and use that as the basis for trend detection. The key difference lies in a custom trend detection method, that computes trends across different timeframes and projects them in a table view. The script also tries to improve the behaviour of the existing indicator by highlighting flat regions on the chart, indicating sideways market or potential trend reversals.
How to use it:
You can use it just like any other indicator, add it to your chart and start analysing market trends. Results can be interpreted as follows.
Indicator output is currently made up of two main components: >> Trend Table:
Appears at the bottom right of your screen
Contains trend indicator for 9 different timeframes
Timeframes can be adjusted using indicator settings panel
Green Up Arrow --> Up Trend
Red Down Arrow --> Down Trend
>> Enhanced Supertrend:
Shows up as a line plot on the chart
Green line indicates up trend
Red line indicates down trend
White regions indicates slow moving markets or a potential trend reversal
Indicator can be used on any timeframe, it provides a view of current and historical market trend
Can be used as an indicator for entering/exiting trades
Can be used to build custom trading strategies
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Minor Release
Summary of the updates:
Providing a new sensitivity controller that allows for a more granular control over the trend line
Switched from snakeCasing to camel_casing
Better formatting, minor adjustments to input texts, fixed some typos & a bit of code cleanup
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# Minor release
Updates: - Added option to select trend-table position
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# Minor Release
Updates: - Added option to control trend-table text-size
Hey this indicator looks awesome, I love the original ST and use it daily, but this looks even better! Unfortunately I can't use it as I don't have a premium account. Would you consider creating a version that didn't use any second intervals as this would then make it possible for me and others like me to use?
If i delete the line "scalper_group = 'Scalper timeframes (in seconds)'" Would that make it work?
Thank you very much for the time and creativity you put into making this!
sudoMode
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@KingOfTheRoad29, Hey! Sure, it should work if you comment out line number 158 to 174, let me know if it doesn't, I'll make the adjustment.
d.umesh
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Thnx sir, Also need font size options. Add if possible when you hv time. Any way thnxs Again....
If i delete the line "scalper_group = 'Scalper timeframes (in seconds)'"
Would that make it work?
Thank you very much for the time and creativity you put into making this!