Supertrend Indicator by Mobius for ThinkorSwim

BenTen

BenTen

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@MBF If you want to donate, please click here.

And remember, trading is "a Marathon not a sprint". Be patient and wait for the right setups :)
 
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corello

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@BenTen is this indicator real time? Meaning that if I am on a 5 minute chart, and after a series of red candles there is a green 5 minute candle after it, is that all in real time? Or is there some delay.
 
BenTen

BenTen

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@corello I believe this indicator works in real-time and does not repaint.
 
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corello

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

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@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

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

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@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

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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

BenTen

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@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);
 
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GetRichOrDieTrying

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@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!
 
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corello

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

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

Code:
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);
 
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corello

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@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

BenTen

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@corello I'm not sure your second question.
 
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corello

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@BenTen No worries, I have figured it out.

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

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@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

BenTen

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@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?
 

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