Supertrend collector

The Supertrend collector indicator allows traders to monitor multiple Supertrend calculations from different timeframes simultaneously on a single chart to identify trend confluence and potential entry points.

Usage

The tool is primarily used to visualize higher timeframe trend directions without switching charts. Traders can look for "confluence," where both Supertrend lines align in the same direction (e.g., both green), to confirm a strong trend.

Key usage examples include:

• Trend Confirmation: Using the Daily (D) Supertrend to establish the macro bias and the 240-minute Supertrend for tactical entries.
• Support and Resistance: Treating the trailing stop lines from higher timeframes as significant dynamic support or resistance levels.
• Signal Filtering: Only taking long positions when the higher timeframe Supertrend is bullish.

Details

The script utilizes the request.security() function to fetch Supertrend data from user-defined resolutions. Each Supertrend is calculated using the standard ATR-based logic, where a Trailing Stop Loss (TSL) is derived from the Average True Range multiplied by a specific factor. The "collector" aspect refers to the consolidation of these multi-timeframe (MTF) calculations into one overlay, reducing chart clutter while providing a macro perspective.

Settings

• Factor (ST/ST2): Adjusts the sensitivity of the Supertrend. A higher factor makes the indicator less sensitive to price fluctuations, while a lower factor makes it more reactive.
• PD (ST/ST2): The lookback period for the ATR calculation used to determine the trend offset.
• Resolution (1/2): Defines the timeframe from which the Supertrend data is pulled (e.g., Daily, 240m).

FAQ

How do I use the arrows provided by the indicator?

The arrows indicate a trend flip on the specific timeframe configured in the settings. A green arrow pointing up suggests a bullish transition, while a red arrow pointing down suggests a bearish transition for that specific resolution.

Can I change the timeframes used?

Yes, the "Resolution" inputs in the settings menu allow you to select any supported timeframe to pull data from, such as Weekly, Daily, or hourly periods.

How do I access Supertrend collector?

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