"SuperComboBullBear" and Linus's Supertrend

blake007

blake007

New member
What does ALL 5 orders | P/L $0.34 mean on the top left of chart ?

Thanks
 
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BigKrud

New member
What does ALL 5 orders | P/L $0.34 mean on the top left of chart ?

Thanks
Looks like it shows the backtest results by telling you the profits or losses generated (based on the green and red bubbles) in the certain timeframe you have selected. This is the first time I've seen an indicator with this feature, so I could be wrong.
 
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tomsk

Well-known member
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Warehouse
Simply stated, there has been several implementations/variations of the Super Trend indicator. Mobius version is based on ATR, while this particular version from Linus is based on price, RSI, Ultimate Oscillator and Chandelier. Within the code is logic to determine the trend based on which a count of orders (using the designed algorithm) is made. The P&L label essentially is the result of that underlying algorithm.

I have also seen other implementations by Mobius of Supertrend with ATR CCI as well as other variations that make use of Heiken Ashi.
At the end of the day it really depends on the underlying base indicator of choice that floats your boat. When in doubt, always check the code.
 
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HighBredCloud

Active member
Simply stated, there has been several implementations/variations of the Super Trend indicator. Mobius version is based on ATR, while this particular version from Linus is based on price, RSI, Ultimate Oscillator and Chandelier. Within the code is logic to determine the trend based on which a count of orders (using the designed algorithm) is made. The P&L label essentially is the result of that underlying algorithm.

I have also seen other implementations by Mobius of Supertrend with ATR CCI as well as other variations that make use of Heiken Ashi.
At the end of the day it really depends on the underlying base indicator of choice that floats your boat. When in doubt, always check the code.
@horserider Do you happen to have a SuperTrend that utilizes Heiken Ashi? I haven't seen any...
 
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tomsk

Well-known member
VIP
Warehouse
@HighBredCloud Since you asked here is Mobius SuperTrend with Heiken Ashi. I do not use this indicator myself

Code:
# Mobius
# SuperTrend HeikenAshi
# Chat Room Request
# V03.10.2015
# Up = (HIGH + LOW) / 2 + Multiplier * ATR
# Down = (HIGH + LOW) / 2 – Multiplier * ATR
# When the change of trend occurs, the indicator flips

# For RP: Add AR trend, Aberrant Vol, R State, PTR

input AtrMult = .70;
input nATR = 4;
input AvgType = AverageType.HULL;
input PaintBars = yes;
input BubbleOn = no;
input ShowLabel = no;
input AlertOn = no;
input PlotLine = no;

def HAopen;
def HAhigh;
def HAlow;
def HAclose;
HAopen = CompoundValue(1, (haopen[1] + haclose[1]) / 2, (open[1] + close) / 2);
HAhigh = Max(high, close[1]);
HAlow = Min(low, close[1]);
haclose = (HAopen + HAclose[1] + HAlow + close) / 4;
def v = volume;
def bar = barNumber();
def EOD = if SecondsTillTime(1545) == 0 and
             SecondsFromTime(1545) == 0
          then 1
          else 0;
def NotActive = if SecondsFromTime(1545) > 0
                then 1
                else 0;
def ATR = MovingAverage(AvgType, TrueRange(HAhigh, HAclose, HAlow), nATR);
def UP = HL2 + (AtrMult * ATR);
def DN = HL2 + (-AtrMult * ATR);
def ST = if close < ST[1]
         then Round(UP / tickSize(), 0) * tickSize()
         else Round(DN / tickSize(), 0) * tickSize();
plot SuperTrend = ST;
SuperTrend.SetHiding(!PlotLine);
SuperTrend.AssignValueColor(if close < ST then Color.RED else Color.GREEN);
SuperTrend.SetPaintingStrategy(PaintingStrategy.Line);
AssignPriceColor(if PaintBars and close < ST
                 then Color.RED
                 else if PaintBars and close > ST
                      then Color.GREEN
                      else Color.CURRENT);
plot ST_point = if isNaN(close[-1])
                then ST
                else double.nan;
ST_point.SetStyle(Curve.Points);
ST_point.SetLineWeight(3);
ST_point.SetDefaultColor(Color.Yellow);
# End Code SuperTrend HeikenAshi
 
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TradeDaTrend

TradeDaTrend

New member
I've been using this indicator live for some time now. I use price action, volume, and VWAP in conjunction with it. I'll just say this: If you use this indicator and trade with the trend, it is a very powerful tool for scalping on the 1m chart. I find it more accurate than other "super-trend" indicators because you get multiple colors based on momentum (green/red for strong trends, yellow orange for moderate/weak ones), and it doesn't repaint. It is genuinely accurate, and the most likely time you'll see false signals is when they are against the prevailing trend. However, I regularly remove the bubbles intraday once entering a position because they can be intrusive and cover active candles.
 
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