Supertrend Grid

The Supertrend Grid indicator tool provides a dynamic grid-based visualization of price action relative to the Supertrend calculation, allowing traders to identify key levels of support, resistance, and trend exhaustion.

Usage

The Supertrend Grid is primarily used to visualize potential price targets and retracement levels following a trend change. When the Supertrend signal flips, the indicator projects a series of horizontal and diagonal lines based on the volatility of the move.

• Trend Identification: The color of the grid lines indicates the current trend direction (green for bullish, red for bearish).
• Grid Levels: Use the horizontal lines as dynamic support and resistance zones. Prices often react to these levels as they represent multiples of the Supertrend offset.
• Fractions: The fractional lines provide more granular levels within the main grid, useful for detecting minor price reactions.
• Vertical/Diagonal Markers: These help identify the origin and trajectory of the current trend phase relative to time and price.

Details

The script utilizes the standard Supertrend algorithm with a default length of 100 and a customizable factor (defaulted to PI: 3.1416). Upon a trend change, the indicator calculates a "base" value from the Supertrend line and a range "r" derived from the difference between the close price and the base.

The grid is constructed using a series of line objects that update dynamically. It includes:

• Vertical Lines: Placed at specific intervals (0, 1.618, 4.272, and 7.389) relative to the time elapsed since the trend change.
• Diagonal Lines: Representing different slopes of price movement relative to the base trend.
• Horizontal Levels: Projected multiples of the initial range to create a full grid system.

Settings

• Lines: Determines the number of primary horizontal grid levels projected from the base Supertrend value.
• Fractions: Sets the number of sub-levels (dashed lines) plotted between each main grid line.
• Factor: The multiplier used for the Supertrend calculation, influencing the sensitivity of the trend detection.

FAQ

How do I use the diagonal lines in the grid?

The diagonal lines represent price-over-time trajectories. Traders often look for price to follow these slopes or break through them as a sign of accelerating or decelerating momentum.

Why do the lines disappear or overlap?

If the "Lines" or "Fractions" inputs are set to very high values, the script may reach the maximum line object limit in TradingView or start overlapping existing levels. It is recommended to keep these values within a reasonable range for clarity.

How can I access the Supertrend Grid?

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