Archived: Supertrend Indicator by Mobius for ThinkorSwim

[corello]

@BenTen thanks again for all your help. Great indicators & research!

 

[corello]

@BenTen I noticed the bubbles (entry/exit) normally point to the bottom (if red candle) or top (if green candle). Will the candles, for example on 5 minute, change color in the middle while there is still time left in the candle, or will it change when the time interval (5 minutes) is over?

 

[BenTen]

@corello Since this indicator works in real-time you may want to wait for the candle to close for confirmation.

 

[corello]

@BenTen you are right. I am watching it now for the /ES open and you must wait for the candle to close for confirmation of the entry/exit (bubble).

During the time interval that you are using (i.e 5 min) the bubble will show at times, but can revert depending on the price. So, one will know whether to enter/exit only when the candle closes.


I must say, this thing is accurate! Up 3 points since entry in /ES right now. Brilliant indicator, seriously. Best one I have found yet.

 

[Shinthus]

Great Indicator. thanks for sharing, Ben. I have found that sometimes changing the natr setting to 3 instead of the default 4 smoothes out the data to produce less false signals.

 

[BenTen]

@Shinthus Glad to hear

 

[GetRichOrDieTrying]

Is there a way to disable the price bubbles?

 

[BenTen]

@GetRichOrDieTrying Remove the following from the code.

AddChartBubble(close crosses below ST, low[1], low[1], color.Dark_Gray);
AddChartBubble(close crosses above ST, high[1], high[1], color.Dark_Gray, no);

 

[GetRichOrDieTrying]

@GetRichOrDieTrying Remove the following from the code.

AddChartBubble(close crosses below ST, low[1], low[1], color.Dark_Gray);
AddChartBubble(close crosses above ST, high[1], high[1], color.Dark_Gray, no);

Thanks Ben!

 

[corello]

@BenTen is there any way to create an alert on TOS when the candle changes color?

 

[BenTen]

@corello Put this together when I was on the go. See if it works. Add it to the bottom of the indicator.

def bullish = close crosses below ST;
def bearish = close crosses above ST;

# Alerts
Alert(bullish, " ", Alert.Bar, Sound.Chimes);
Alert(bearish, " ", Alert.Bar, Sound.Bell);

 

[corello]

@BenTen Thank you very much! It works for when it changes color.

Now, is there a way to only make it alert when the bar actually closes a different color? Not just when it changes color within the specified time frame.

Thanks again.

 

[BenTen]

@corello I'm not sure your second question.

 

[corello]

@BenTen No worries, I have figured it out.

Thanks again for your help. I, along with many others, are grateful for what you do.

 

[corello]

@BenTen Are you able to backtest this strategy with ThinkorSwim? Would like to see how it would work with ES future for example over a certain time period.

Unsure of how to make a backtest of this strategy, so any help would be great.

Thanks in advance.

 

[BenTen]

@corello Sure, adding a strategy to this indicator should be easy. How do you want it? Buy when there is a bullish supertrend and sell when there is a bearish supertrend? Same for shorting?

 

[corello]

@corello Sure, adding a strategy to this indicator should be easy. How do you want it? Buy when there is a bullish supertrend and sell when there is a bearish supertrend? Same for shorting?

@BenTen Yep, exactly that.

 

[BenTen]

@corello Here is the code for that. It comes in 2 parts.

Step 1: Create a new Strategy (not a Study) > Copy and Paste the original code in the first page into it.

Step 2: Add the following code to the end of the script:

# The following code is for backtesting
def SuperTrendUP = if ST crosses below close then 1 else 0;
def SuperTrendDN = if ST crosses above close then 1 else 0;

Step 3a: If you want to test out bullish strategy then add this code after the code from Step 2:

# Bullish Orders
AddOrder(OrderType.BUY_TO_OPEN, condition = SuperTrendUp, price = close,100, tickcolor = Color.GREEN, arrowcolor = Color.GREEN, name = "BUY");
AddOrder(OrderType.SELL_TO_CLOSE, condition = SuperTrendDN, price = open,100, tickcolor = Color.RED, arrowcolor = Color.RED, name = "SELL");

Step 3b: If you want to test out bearish strategy then add this code after the code from Step 2:

# Bearish Orders
AddOrder(OrderType.SELL_TO_OPEN, condition = SuperTrendDN, price = open,100, tickcolor = Color.RED, arrowcolor = Color.RED, name = "SELL");
AddOrder(OrderType.BUY_TO_CLOSE, condition = SuperTrendUp, price = close,100, tickcolor = Color.GREEN, arrowcolor = Color.GREEN, name = "BUY");

Do not place both codes from 3a and 3b into the same script.

 

[Billions]

@BenTen Are you able to backtest this strategy with ThinkorSwim? Would like to see how it would work with ES future for example over a certain time period.

Unsure of how to make a backtest of this strategy, so any help would be great.

Thanks in advance.

This is what I have for a magic trend I use it on ES:
def agg = getAggregationPeriod();
def c = close(period = agg);
def h = high(period = agg);
def l = low(period = agg);
def pricedata = hl2(period = agg);
DefineGlobalColor("TrendUp", CreateColor(0, 254, 30));
DefineGlobalColor("TrendDown", CreateColor(255, 3, 2));
input lengthCCI = 50;
input lengthATR = 5;
input AtrFactor = 0.7;
def ATRcci = Average(TrueRange(h, c, l), lengthATR) * AtrFactor;
def price = c + l + h;
def linDev = LinDev(price, lengthCCI);
def CCI = if linDev == 0
then 0
else (price - Average(price, lengthCCI)) / linDev / 0.015;
def MT1 = if CCI > 0
then Max(MT1[1], pricedata - ATRcci)
else Min(MT1[1], pricedata + ATRcci);
plot data = MT1;
data.AssignValueColor(if c < MT1 then GlobalColor("TrendDown") else GlobalColor("TrendUp"));

 

[Billions]

@corello Put this together when I was on the go. See if it works. Add it to the bottom of the indicator.

def bullish = close crosses below ST;
def bearish = close crosses above ST;

# Alerts
Alert(bullish, " ", Alert.Bar, Sound.Chimes);
Alert(bearish, " ", Alert.Bar, Sound.Bell);

Ben I tried to add this to my study its not working:
Here is the study I would like and alert when it crosses above or below can you help?
def agg = getAggregationPeriod();
def c = close(period = agg);
def h = high(period = agg);
def l = low(period = agg);
def pricedata = hl2(period = agg);
DefineGlobalColor("TrendUp", CreateColor(0, 254, 30));
DefineGlobalColor("TrendDown", CreateColor(255, 3, 2));
input lengthCCI = 50;
input lengthATR = 5;
input AtrFactor = 0.7;
def ATRcci = Average(TrueRange(h, c, l), lengthATR) * AtrFactor;
def price = c + l + h;
def linDev = LinDev(price, lengthCCI);
def CCI = if linDev == 0
then 0
else (price - Average(price, lengthCCI)) / linDev / 0.015;
def MT1 = if CCI > 0
then Max(MT1[1], pricedata - ATRcci)
else Min(MT1[1], pricedata + ATRcci);
plot data = MT1;
data.AssignValueColor(if c < MT1 then GlobalColor("TrendDown") else GlobalColor("TrendUp"));