Supertrend MTF

The Supertrend MTF indicator provides a multi-timeframe perspective on trend direction by plotting both current and higher timeframe Supertrend lines on a single chart.

Usage

The indicator can be used to identify trend confluence between different timeframes. When both the current timeframe (CTF) and higher timeframe (HTF) show a bullish trend (indicated by green lines and background highlights), it suggests a strong uptrend. Conversely, when both are bearish (indicated by red lines and background highlights), it suggests a strong downtrend.

Traders often look for "BUY" and "SELL" labels on the current timeframe that align with the direction of the HTF trend. For example, if the thick HTF line is bullish, a trader might prioritize "BUY" signals that appear on the thinner CTF line.

Details

This script calculates the Supertrend using the standard Average True Range (ATR) method. The core logic determines trend shifts based on price crossing the calculated bands. The MTF functionality is achieved via request.security, allowing the script to fetch trend data from a broader period. It includes an "Auto" mode that dynamically selects an appropriate HTF based on a multiplier of the current chart's resolution, ensuring the HTF remains relevant as you switch timeframes.

Settings

• Higher Timeframe Method: Selects between "Auto" (dynamic calculation) or "User Defined" (static selection).
• Auto Resolution Multiplier: Sets the multiplier for the HTF calculation when the method is set to "Auto" (e.g., 4x the current chart).
• User Defined Timeframe: Manually select the specific timeframe for HTF analysis.
• ATR Multiplier: Adjusts the sensitivity of the Supertrend; higher values result in fewer, more stable signals.
• ATR Period: Defines the lookback period for the ATR calculation.
• Plotting Lookback Bars: Limits the number of historical bars displayed to optimize performance.
• Show Buy/Sell Labels: Toggles the visibility of text labels on trend changes.
• Show Background Highlights: Enables or disables background coloring based on the current timeframe trend.
• Signal Colors: Customize colors for buy/sell labels and signal dots.
• Current Timeframe Colors: Customize the appearance of the primary timeframe trend line.
• Higher Timeframe Colors: Customize the appearance of the secondary, higher timeframe trend line.

FAQ

How do I use the Auto Resolution feature?

Simply set the "Higher Timeframe Method" to "Auto" and adjust the "Auto Resolution Multiplier." If you are on a 1-hour chart and set the multiplier to 4, the indicator will automatically display the 4-hour Supertrend.

What is the difference between the thin and thick lines?

The thin line represents the Supertrend for your current chart timeframe, while the thicker line represents the higher timeframe trend.

How can I access the Supertrend MTF?

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