SuperTrend EXPLORER / SCREENER

The Supertrend Explorer indicator provides a multi-asset dashboard that monitors buy and sell signals across 38 user-defined tickers simultaneously. It identifies trend reversals based on ATR-calculated trailing stops, allowing traders to scan entire markets for high-probability setups from a single chart.

Usage

The Usage section describes how the script can be used, focusing on its screening capabilities and visual outputs. Users can input up to 38 different ticker symbols in the settings to monitor their trend status on the current chart's timeframe.

The tool generates two types of signals for the listed tickers:

• Confirmed Reversal: Occurs when a Supertrend reversal has completed on the previous bar. These signals are fixed and do not repaint.
• Potential Reversal: Occurs when the Supertrend might reverse based on current price action. These are real-time warnings that may change depending on the candle's closing price.

In addition to the screener dashboard, the script plots a standard Supertrend indicator on the chart. A buy signal (green) is generated when price closes above the trailing stop, while a sell signal (red) is generated when price closes below it. This allows for immediate visual verification of the screener's findings.

Details

The script is based on the logic of the traditional Supertrend, an ATR-based trailing stop indicator. It calculates a trend line using a specified multiplier and period. The primary calculation involves:

1. ATR Calculation: Determining volatility using either the RMA (default) or SMA method.
2. Trailing Stop Placement: Offsetting the line from the source price (typically hl2) based on the ATR value.
3. Trend Logic: The trend remains bullish as long as the price stays above the green line and bearish as long as it stays below the red line.

The indicator includes a source selection feature, allowing users to switch from the default "hl2" (median price) to "close," which can be used to treat the indicator as a standard ATR Trailing Stop. This version also optimizes the screener by utilizing request.security to fetch data for multiple assets without needing to switch charts.

Settings

• ATR Period: Sets the lookback period for the Average True Range calculation (default is 10).
• Source: Determines the price point used for the calculation (e.g., hl2, close).
• ATR Multiplier: Adjusts the sensitivity of the trailing stop; higher values result in fewer signals.
• Change ATR Calculation Method: Toggles between RMA and SMA for the ATR calculation.
• Show Buy/Sell Signals: Enables or disables the visual labels for trend reversals on the main chart.
• Highlighter On/Off: Toggles the background coloring based on the current trend.
• Show Screener Label: Displays or hides the multi-ticker dashboard.
• Pos. Label x-axis / y-axis: Adjusts the horizontal and vertical positioning of the screener dashboard.
• Label Color: Customizes the visual theme of the screener display.
• Ticker 1-38: Input fields for the symbols you wish to monitor.

FAQ

How do I interpret a "Potential Reversal" in the screener? A potential reversal indicates that the current price is crossing the Supertrend line in real-time. Traders should wait for the candle to close to confirm if the reversal becomes a "Confirmed Reversal."

Can I use this on different timeframes? Yes, the screener monitors the 38 tickers using the timeframe currently selected on your main chart. If you switch from a 1-hour to a daily chart, the screener will update its calculations accordingly.

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