Super Trend
This tool for MetaTrader 5 is specifically engineered to streamline your trading operations. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use Super Trend
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
Description & Settings
Jason Robinson (jnrtrading)
Indicators providing simple and clear indication are quite popular on Forex market. The Supertrend trend indicator is one of such tools. It displays its values not in a separate window, but right on the price chart, which is quite convenient.
On an uptrend the indicator line is painted green and placed below the price chart. On a downtrend it is painted red and placed above the price. The indicator can be used in several ways. The simplest is to buy when the Supertrend line is painted green and sell when it is red. In a more advanced variant the evaluation takes place at a senior timeframe, such as H4, and trade is conducted on a smaller - say, M15 towards the dominating trend. Another application option of this indicator is using its lines as resistance and support levels. That is, one should wait until the price gets close to the line and trade rolling back from it.
Originally this indicator has been written in MQL4 and was first published in the on 19.06.2015.
Fig.1. The Super_Trend indicator
