Super Trend Daily 2.0 Alerts

The Super Trend Daily 2.0 Alerts indicator provides specialized alert functionality for long and short signals based on a dual-parameter SuperTrend system filtered by the Rate of Change (ROC). It is designed to act as a study-based companion to strategy backtesting, allowing users to trigger real-time notifications when trend conditions and momentum thresholds are met.

Usage

The Usage section describes how the script can be used to identify trend shifts and momentum-backed entries. The indicator calculates two distinct SuperTrend instances (Long and Short) and filters them using an Exponential Moving Average (EMA) of the Rate of Change.

• Signal Identification: A Long signal (Green triangle) is generated when the Long SuperTrend flips bullish and the ROC confirms sufficient market movement. A Short signal (Red triangle) is generated when the Short SuperTrend flips bearish and its respective ROC filter is active.
• Market State Visualization: The background color changes to indicate "choppy" or sideways markets where the ROC does not meet the required percentage change. This helps traders avoid trading in low-momentum environments.
• Workflow: Users can determine optimal parameters using the strategy version of this tool and then apply identical settings to this script to automate alerts.

Details

The script utilizes two main components for its logic:

• Dual SuperTrend: It calculates separate ATR-based stops for long and short sides, allowing for asymmetrical sensitivity depending on the market direction.
• ROC Filter: The Rate of Change function determines if the market is "moving" by comparing an EMA of the ROC against a user-defined percentage threshold. If the absolute value of the EMA ROC is below half of the specified percentage change, the market is considered neutral, and signals are suppressed.

Settings

Super Trend L / S

• ATR Period: The lookback period used for the Average True Range calculation.
• ATR Multiplier: The factor applied to the ATR to determine the distance of the trailing stop.

Rate of Change L / S

• ROC Length: The lookback period for calculating the percentage price change.
• ROC % Change: The threshold used to define whether the market is in a high-momentum state or a sideways state.

Longs or Shorts

• Use Longs: Toggles the display and alert triggering for bullish signals.
• Use Shorts: Toggles the display and alert triggering for bearish signals.

FAQ

How do I sync this with my strategy backtest?

To ensure the alerts match your backtesting results, copy the ATR Periods, Multipliers, and ROC settings exactly from your Strategy script into this indicator's settings panel.

What do the background colors mean?

A white background (default) indicates that the Short ROC filter is not met, while an aqua background indicates the Long ROC filter is not met, signifying potentially sideways market conditions.

How do I access Super Trend Daily 2.0 Alerts?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.