We all know how important are trends in trading. Depending on whether you can grasp the trend and trade, the outcome of the trade will change completely.
In this article, we will introduce an indicator for MT4 that is a further improvement of our “SuperTrend” indicator, which is the best way to judge Forex trends.
The SuperTrend indicator was created by Olivier Seban. It is an indicator made mainly to grasp the trend using the ATR, and it is also a good indicator for trend-following methods.
The “SuperTrendImproved” introduced this time is an improved version of this SuperTrend indicator. The “SuperTrendImproved” not only can be used like the standard one, but also has a function that automatically switches the “period used for calculation” when the time frame is switched. For example, if this function is used, the “period used for calculation” is automatically switched to 10 when switching to the 1-hour chart, and the “period used for calculation” is automatically switched to 20 when the chart is switched to the 4-hour chart.
Tips for using:
This indicator should be used for trend analysis. For example, in the image below, 100 is applied to the “period used for calculation” to make it easier to grasp long-term trends. Basically, if the line is green, it is an uptrend, and if the line is red, it is a downtrend. SuperTrend is good for showing you at a glance whether the current trend is an up-trend or a down-trend.
However, be aware that indicators such as SuperTrend do not function well during a ranging market (sideways trend).
Combined with other indicators, the “SuperTrendImproved” indicator is a perfect complement. For example, it is difficult to win with MACD alone, but if you combine it with this indicator, the winning rate may increase at once. If you want to add a trend element to your trading strategy definitely give this indicator a try.
Download this very successful "SuperTrendImproved" indicator from the button below
Do you need help with installing this indicator into MT4 for Windows or Mac OS? Our guide HERE will help you.
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