SuperTrend Polyfactor Oscillator
By LuxAlgoOct 26, 2023
SuperTrend Polyfactor Oscillator is an indicator on Vela, our next-generation charting platform, written in Pine Script®.
The SuperTrend Polyfactor Oscillator reads trend agreement from a battery of 20 SuperTrends, each running a different factor. The price-to-SuperTrend differences form a mesh of bars whose colors brighten as the set aligns, a composite oscillator approach that polls many instances at once instead of trusting one setting. A consensus line and a standard-deviation area complete the picture.
How to Trade the SuperTrend Polyfactor Oscillator?
- Brighter mesh colors: stronger agreement among the 20 SuperTrend signals, conviction across the whole factor set.
- Consensus line color: the median of the price-SuperTrend differences plots blue for a bullish inclination, orange for a bearish one, mapping overall bias and potential reversals.
- Red bars against a bullish consensus: an early flag of retracement within the trend, and a strategic point for forethought.
- Consensus above the StDev area: the market is likely trending rather than ranging, useful confirmation for trend-following approaches.
Two normalization modes keep outputs manageable: Absolute Sum rescales elements into a (1, -1) range using the absolute sum of price differences across the set, while Max-Min applies min-max scaling (excluding the StDev area) into (0, 1), convenient when comparing timeframes or feeding systematic models.
SuperTrend Polyfactor Oscillator Settings
- Length: the ATR length shared by every SuperTrend in the set.
- Starting Factor: the factor of the shortest-term SuperTrend.
- Increment: spacing between the factors of successive SuperTrends; higher values tilt the set toward long-term trends.
- Normalize: selects the normalization method that rescales the output.
Frequently Asked Questions
Free to use
Run it on Vela. Go further with a paid plan.
- Up to 500 Custom Alerts, with webhook automation
- Up to 10× the chart history of Free
- Orderflow lookback up to full history
- More Quant usage to customize it, plus extra usage when you need it
- Futures data alongside crypto, stocks, forex and commodities
Also works on
Related indicators
All 11 Supertrend indicators
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Open this indicator free on Vela, our next-generation charting platform. Then ask Quant, our coding agent built into Vela, to retune it or turn it into a backtested strategy of your own.