supertrend
Info
The supertrend is a Indicator for MetaTrader 5 that this supertrend indicator helps identify market trends based on average true range (atr) volatility. released under mit license for free and open-source use.
Usage
This tool is typically used for trend following strategies across multiple currency pairs.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use supertrend
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.
What this tool does
this supertrend indicator helps identify market trends based on average true range (atr) volatility.
Typical Use Case
This Indicator excels in trend following on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: supertrend indicator: atr-based trend following for metatrader 5 - another powerful indicator for MetaTrader 5 traders.
Also recommended: machine learning supertrend - similar indicator with strong performance on MetaTrader 5.
this supertrend indicator helps identify market trends based on average true range (atr) volatility. released under mit license for free and open-source use.core formula
upper band = source price + (multiplier × atr)
lower band = source price - (multiplier × atr)
in uptrend: supertrend = lower band (green)
in downtrend: supertrend = upper band (red) usage
green line indicates uptrend (potential buying opportunities)
red line indicates downtrend (potential selling opportunities)
can be used for trend following strategies or identifying reversals
works well as a trailing stop mechanism installation
copy the file to your metatrader 5 indicators folder (typically located at terminal_directory\mql5\indicators\ )
restart metatrader 5 or refresh the navigator panel
drag the indicator onto any chart parameters
atrperiod
: period for atr calculation (default: 22)
multiplier
: atr multiplier to adjust sensitivity (default: 3.0)
sourceprice
: price type used for calculations
takewicksintoaccount
: whether to include price wicks in calculations
You may also like: asq supertrend indicator for metatrader 5 - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "RobotFX"
#property link "https://robotfx.org"
#property version "1.01"
#property indicator_chart_window
#property indicator_plots 2
#property indicator_buffers 3
#property indicator_type1 DRAW_COLOR_LINE
#property indicator_style1 STYLE_SOLID
#property indicator_width1 1
#property indicator_color1 clrGreen, clrRed // Green for uptrend, Red for downtrend.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.