Custom Supertrend Multi-Timeframe Indicator

The Supertrend Multi-Timeframe Indicator tool identifies trend direction and potential market reversals by overlaying Supertrend data from both the current and a higher timeframe. This approach allows traders to align short-term price action with broader market trends for more robust signal generation.

Usage

The script is used to visualize trend confluence across different time horizons. Users can observe the interaction between the primary Supertrend (current timeframe) and the secondary Supertrend (higher timeframe).

• Trend Identification: Background colors shift to green during uptrends and red during downtrends.
• Signal Generation: Buy signals (upward arrows) appear when both timeframes align in a bullish direction or when a crossover occurs within a bullish context. Sell signals (downward arrows) trigger when the multi-timeframe alignment breaks or reverses.
• Confluence: Traders can use the larger timeframe Supertrend as a filter, only taking long positions when the higher-period trend is bullish.

Details

The indicator utilizes the standard Supertrend algorithm, which is derived from the Average True Range (ATR) to establish dynamic support and resistance levels. By using the request.security function, the script fetches data from a user-defined "Larger Timeframe," allowing the calculation of a secondary Supertrend line that remains visible on the current chart.

Settings

Supertrend

• Supertrend Factor: Adjusts the multiplier for the ATR to set the sensitivity of the current timeframe's Supertrend.
• Supertrend ATR Length: Defines the lookback period used for the Average True Range calculation on the current timeframe.
• Larger Supertrend Factor: Sets the ATR multiplier for the higher timeframe Supertrend.
• Larger Supertrend ATR Length: Sets the ATR lookback period for the higher timeframe Supertrend.

Timeframe

• Larger Timeframe: Specifies the higher timeframe from which the secondary Supertrend data is sourced (e.g., 240 for 4-hour data).

Alert

• Enable Buy Alert: Toggles notifications for bullish signal conditions.
• Enable Sell Alert: Toggles notifications for bearish signal conditions.

FAQ

How do I access the Supertrend Multi-Timeframe Indicator?

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

Can I use different ATR settings for the two timeframes?

Yes, the script provides independent inputs for both the Factor and ATR Length for the current and larger timeframes, allowing for full customization.

What do the arrows on the chart represent?

The green upward arrows represent bullish entry signals based on multi-timeframe alignment, while the red downward arrows represent bearish signals or trend breakdowns.