SuperTrend Indicator was introduced by Oliver Seban and initially developed by Jason Robinson. This indicator has the massive benefit of giving correct signals on all time frames in all markets. ST indicator is in line with average true range (ATR). As you can see in the attached image, the blue line below price signifies a bullish trend while the red line above price signifies a bearish trend. The Super Trend indicator parameters help you set the ATR size and multiplier. Let me gift you a Super Trend indicator MT4 formula here.
ST indicator depends on the market trend. Sometimes, it may give a false signal as well as whipsaw, by not reacting with the changing trend. Therefore, be aware of it.
You can download and use the super trend indicator MT4 formula by clicking the download link below.
And now you will instantly see the nearly-perfect super trend indicato MT4r formula appear in the charts. The above image shows how the super trend indicator MT4 formula looks like when plotted on a chart.
Steps for installing the indicator in MT4:
1) Download/Copy/Save the SuperTrend.ex4 file into your DATA FOLDERS –> MQL4 –> INDICATORS folder .
2) Close your MetaTrader application (assuming it’s currently open, ignore this if the application is not open)
3) Launch your MetaTrader application
4) On the left-hand side, look for the “Navigator” window
5) Then look into the “Custom Indicators” directory
6) Locate the indicator which you have just downloaded into the folder stated in Step 1
7) Drag (Click and drag) the indicator onto the chart. Voila, you can now see SuperTrend indicator on your charts.
For trading the SuperTrend Indicator we suggest you open charts of different time frames. Daily, hourly, 15-minutes, and 5-minutes. For day traders I suggest to trade on 5-minutes time frame chart, but keep an eye on the trend of higher time frame charts. To find out buy-sell signals, entry-exit time, super trend considers one of the best indicators in the technical analysis. If you learn to use the indicator properly, it can help you a lot to find out the market trend.
Indrajit is a professional blogger and trading system developer. Amibroker expert, WordPress expert, SEO expert and stock market analyst.Trading since 2002, he has started the journey of StockManiacs.net on 2008. He follows Indian and world stock markets closely.