Non Repainting Supertrend Indicator


Non Repainting Supertrend Indicator Free

The Non Repainting SuperTrend Indicator is particularly stable and has a few advantages over the older version of SuperTrend indicators:

It uses a moving (statistical) median of the arithmetic mean (High + Low)/2 of the bars instead of a moving average. The (statistical) median is known to be more robust than any average.
It calculates both the Median and the ATR (average true range) 1 bar ago, whereas the original SuperTrend indicator takes the ATR and moving average of the current bar. If you use the current bar’s ATR, the current bar’s breakout is partly measured against its own range. This is particularly true if the ATR period is short.
Signals: The Non-Repaiting SuperTrend indicator gives a reversal signal when the bar closes on the other side of the stop line.
Magnified Market Price added for instant check of current market price
Input parameters

Non-Repainting Supertrend Indicator For MT4 uses two parameters, ATR (nbr_periods) and Factor (multiplier) with default values 10 and 4.0. The average true range or ATR is very important in Supertrend calculation as it signals the degree of the price volatility. Though we can play with those parameters, the default values will give us a pretty good picture of the trend.

The indicator has many more input parameters, however, these parameters are not as important as the first two ones. Their purpose is to describe different characteristics of the label and the display on the chart. They will not influence on the behavior of the indicator curve.

MT4 Indicator Characteristics

Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern indicator
Customization options: Variable (Nbr_Periods, Multiplier, sidFontSize, sidFontName, NoteRedGreenBlue, sidRed, sidGreen, sidBlue, sidXPos, sdYPos, tagDisplayText, tag Text, tagFontSize, tagFontName, tagRed, tagGreen, tagBlue, tagXPos, tagYPos), Colors, width & Style.
Time frames: 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: support/resistance, pattern