3x SuperTrend Indicator

The 3x SuperTrend Indicator tool allows users to plot up to three independent SuperTrend lines simultaneously to better identify trend direction, potential reversals, and trailing stop-loss levels on a single chart.

Usage

The Usage of the 3x SuperTrend Indicator is centered around multi-timeframe or multi-sensitivity trend analysis. By plotting three different SuperTrend lines, traders can look for confluences where all three lines align in the same direction to confirm a strong trend.

• Single Line Analysis: Use one line as a standard trend filter or trailing stop.
• Confluence Trading: A "Buy" or "Sell" signal is often considered more robust when the faster (lower multiplier/period) and slower (higher multiplier/period) SuperTrends align.
• Exit Strategy: Traders may use the closest SuperTrend line for aggressive trailing stops or the furthest line for more conservative trend following.

Details

The script calculates the SuperTrend based on the Average True Range (ATR) and a multiplier applied to the median price (HL2). It includes logic to prevent the trend line from moving against the trend direction until a formal crossover occurs.

• Trend Detection: A bullish trend starts when the price crosses over the upper band, and a bearish trend starts when the price crosses under the lower band.
• Efficiency: This script is optimized to save indicator slots on charting platforms by combining three separate calculations into one visual output.
• Visual Cues: The indicator uses green for bullish trends and red for bearish trends, accompanied by circle shapes to highlight specific crossover signals for each of the three lines.

Settings

Line 1 / 2 / 3

• Line [X]: Toggle visibility for the specific SuperTrend line.
• Line [X] ATR Period: Sets the lookback period for the Average True Range calculation.
• Line [X] ATR Multiplier: Sets the sensitivity of the line; a higher multiplier makes the indicator less sensitive to price fluctuations, while a lower multiplier makes it more reactive.

FAQ

How do I access the 3x SuperTrend 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 settings for each line?

Yes, each of the three lines has independent ATR Period and Multiplier settings, allowing you to track short, medium, and long-term trends simultaneously.

Does the indicator provide alerts?

The script is optimized with alerts for individual line crossovers as well as a master alert that triggers when all three SuperTrends provide a signal at the same time.