SuperTrendRange

The SuperTrendRange indicator helps traders determine market states by identifying well-established bullish or bearish trends versus sideways range-bound conditions. By incorporating both volatility-based and trend-following logic, it identifies potential "no-trade" zones during periods of low conviction, which often produce false signals in standard trend indicators.

Usage

The Usage section focuses on interpreting the visual levels and the three primary market states identified by the script:

• Bullish Trend: A single level (or series of dots) is plotted below the price, acting as dynamic support.
• Bearish Trend: A single level is plotted above the price, acting as dynamic resistance.
• Range-Bound: Levels are plotted simultaneously above and below the price. This visual "envelope" suggests the market is moving sideways, highlighting areas where trend-following strategies may underperform.

Traders can use the Dot Mode for a Parabolic SAR-style visualization or keep the default band view. The integrated Add-Ons allow for further refinement:

• DMI Trend Strength: Colors the levels based on ADX to confirm if a trend has sufficient momentum.
• Price Deviation (P/MA): Highlights when price is overextended from its mean, suggesting potential exhaustion.
• Volume Activity Bars: Colors candles based on relative volume to confirm participation in price moves.

Details

The SuperTrendRange (STR) differentiates itself from standard SuperTrend or Parabolic SAR tools by utilizing a dual-volatility calculation. While traditional tools rely solely on the Average True Range (ATR), STR combines ATR with Standard Deviation (STDEV).

This hybrid approach allows the script to detect "Range" states. When the price is not significantly deviating from its basis (EMA) beyond the calculated volatility thresholds on either side, the indicator acknowledges the lack of direction by plotting both upper and lower boundaries. This functionality is intended to filter out "choppy" price action that typically triggers premature stop-outs in pure trend-following systems.

Settings

Core Settings

• Source: The price input used for calculations (e.g., Close, HL2).
• Core Length: The lookback period for the baseline EMA, ATR, and volatility calculations.
• ATR Factor: Multiplier for the Average True Range component.
• Volatility Factor: Multiplier for the Standard Deviation component.
• Volatility Basis: Determines if volatility is measured from the raw price source or the smoothed Moving Average.

Display & Add-Ons

• Dot Mode: Switches the visualization from lines to SAR-style dots.
• DMI Trend Strength: Enables ADX-based filtering for trend levels.
• Price Deviation from Trend: Enables statistical threshold markers to identify overextended price action.
• Volume Activity Bars: Enables candle coloring based on volume intensity.
• Confirmed Bars Only: If enabled, the indicator only calculates based on closed bars to prevent intraday repainting.

FAQ

How do I interpret the "Range" state?

When you see dots or lines both above and below the price, it indicates a sideways market. Many traders treat these as "no-trade" zones or use the levels as horizontal support and resistance for mean-reversion trades.

What makes this different from a standard SuperTrend?

The primary difference is the inclusion of Standard Deviation and the ability to plot two levels at once. Standard SuperTrends are binary (either long or short), whereas SuperTrendRange includes a third "neutral/range" state.

How can I access SuperTrendRange?

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