Supertrend, HalfTrend, Ichimoku Cloud and P_SAR

The Supertrend, HalfTrend, Ichimoku Cloud and P_SAR indicator provides a comprehensive multi-layered analysis tool that integrates four classic trend-following systems into a single dashboard for assessing market sentiment and potential reversals.

Usage

The tool is designed for traders seeking confluence across multiple technical methodologies. It displays signals in a non-overlay candlestick format on a separate pane, where each horizontal layer represents a specific indicator's current state (bullish or bearish).

• Supertrend: Identifies trend direction and potential trailing stop levels based on ATR.
• HalfTrend: Provides buy and sell signals by analyzing market volatility and historical price extremes.
• Ichimoku Cloud: Assesses market strength and equilibrium using conversion and base lines.
• Parabolic SAR: Highlights potential reversal points through a time-and-price stop-and-reverse system.
• Master Candle: This is the primary signal aggregator. It computes a sentiment score based on the confluence of all integrated indicators. When multiple indicators align, the "Master Candle" provides a high-conviction signal, which can also be projected back onto the main chart through bar coloring.

Details

The script executes by processing price data through four distinct algorithms simultaneously. It uses a scoring system to determine the "Master Candle" state: a point is awarded for each bullish condition met across the components (Supertrend, HalfTrend, Ichimoku, P_SAR, and an additional EMA 20 filter). The non-overlay visual style prevents chart clutter while allowing users to see exactly which indicator is lagging or leading during a trend shift. The "Master Candle" logic helps filter out "noise" by requiring multiple indicators to agree before displaying a strong sentiment change.

Settings

General Settings

• Overlay - Master Candle Color: Toggles the coloring of price bars on the main chart based on the Master Candle sentiment.
• Overlay - MA20 and VWAP: Displays a 20-period Moving Average and VWAP on the main chart.
• Overlay Indicators: Individual toggles to show/hide the Supertrend, HalfTrend, Ichimoku, or P_SAR lines directly on the price chart.

Supertrend

• ATR Length: The lookback period for Average True Range calculation.
• Factor: The multiplier used to set the distance of the trend line from price.

HalfTrend

• Amplitude: Controls the sensitivity of the trend detection.
• Channel Deviation: Sets the width of the volatility channels.

Ichimoku Cloud

• Conversion Periods: Lookback for the short-term equilibrium line.
• Base Periods: Lookback for the medium-term equilibrium line.
• Lagging Span 2 Periods: Lookback for the long-term trend component.
• Displacement: The number of periods to shift the cloud forward.

Parabolic SAR

• Start / Increment / Max Value: Parameters governing the acceleration and limit of the SAR dots.

FAQ

How do I access the Supertrend, HalfTrend, Ichimoku Cloud and P_SAR indicator?

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

Does this indicator repaint?

No, the logic is calculated based on closed bars or real-time data without altering historical signals once the bar has closed.

Can I use the Master Candle signal for alerts?

Yes, the script includes built-in alert conditions for both bullish and bearish Master Candle crossovers, allowing for automated notifications when the trend sentiment shifts.