Variable SuperTrend - evo

The Variable SuperTrend - evo indicator is a trend-following tool that combines the volatility-adjusted logic of a SuperTrend with a Variable Moving Average (VMA) to identify market direction and potential trend reversals. It aims to provide a smoother, more adaptive trend line compared to traditional versions by integrating price volatility directly into the moving average calculation.

Usage

The indicator can be used to identify the prevailing market bias. An uptrend is plotted when the low of a candle moves above the recent trailing downtrend level, while a downtrend is initiated when the high of a candle falls below the recent trailing uptrend level.

• Trend Confirmation: Users should wait for the candle to close to confirm a trend change.
• Directional Bias: The tool is primarily designed to establish a direction for long or short positions rather than functioning as a standalone stop-and-reverse system.
• Visual Feedback: The script includes optional cloud fills and bar coloring modes (Heikin Ashi or SuperTrend-based) to help traders quickly visualize the strength and direction of the current move.
• Performance Tracking: A dynamic label displays the percentage gain or loss and the duration (in bars) since the current trend began.

Details

This script is a hybrid implementation inspired by LazyBear’s Variable Moving Average and Gunazzi’s SuperTrend Cloud. The core logic utilizes a VMA that adapts its smoothing based on a calculated volatility index (vI). This index is derived from the relative strength of price movements (PDM and MDM), allowing the moving average to react faster during high-volatility periods and slow down during consolidation. The SuperTrend calculation then applies an ATR-based offset to this adaptive average to create the upper and lower bands.

Settings

SuperTrend Settings

• Variable Moving Average: Sets the period length for the VMA calculation.
• ATR Range: The multiplier applied to the Average True Range to determine the distance of the SuperTrend bands from the VMA.
• ATR Periods: The lookback period used for the ATR volatility calculation.
• Show VMA: Toggles the visibility of the underlying Variable Moving Average line.
• Show Label: Enables or disables the information label showing profit/loss statistics for the current trend.

Visual & Formatting

• Visual: Allows users to filter the indicator visibility based on the timeframe (All Timeframes, Intraday Only, or Daily/Weekly/Monthly).
• Bar Color: Selects the coloring logic for price bars (Heikin Ashi, SuperTrend-based, or None).

FAQ

How do I interpret the trend changes?

A trend change occurs when the price breaks through the established "Edge Line." A green line indicates a bullish bias, while a red line indicates a bearish bias.

What is the "Profit" percentage in the label?

The label calculates the percentage change from the price at the start of the current trend to the current closing price, providing a real-time tracking of the trend's performance.

How can I access this indicator?

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