How To Use SuperTrend Indicator In Zerodha Kite?
SuperTrend indicator was introduced by Olivier Seban , This indicator has the huge favorable position of taking a trade at all the time frames and all markets. You can use on equities, futures or forex, and also in daily, weekly, hourly as well as in 5 minutes. It is perfect to go with the trends and streamline your yield.
SuperTrend moving above or beneath the price decides upon the trend created. Trend indicator SuperTrend was made on the basis of ATR and CCI. It is a fantastic indicator of trend identification. It can be utilized as an establishment of the trading framework that depends on going after the trend.
Recently Zerodha, the leading discount broker of India has introduced SuperTrend in their web based Kite Platform. This has made Zerodha Kite an wonderful platform to trade. Just check SuperTrend and enter into trade. I even suggest traders to combile SuperTrend with Range Bar charts to make a killing trading setup. You can even trade calls and puts with the setup SuperTrend + Range Bar.
Here is an image of how SuperTrend looks like in Nifty options range bar chart with SuperTrend indicator applied.
The default value of SuperTrend in Zerodha Kite is Period = 7 and Multiplier = 3. You can trade this default value of Super Trend using Range Bar charts. By default Range Bar charts do not have the time axis and the candles get formed by price action only and this chart has a very low noise.
You can watch this video also on how to use SuperTrend in Zerodha Kite.
In this video I have discussed another concept of watching SuperTrend in 2 different time frames. One is 30 minutes time frame and another is 5 minutes time frame. Just check the signal in 30 minutes time frame and go in the same direction in 5 minutes time frame. That means if 30 minutes chart is in buy mode take all buy signals in 5 minutes time frame and vice versa. I would like to discuss more about this SuperTrend indicator in comments below.