SuperTrendS

The SuperTrendS indicator provides a comprehensive trend-following toolkit that allows users to toggle between Regular ATR-based SuperTrend, Pivot Point SuperTrend, and ZigZag-based SuperTrend variations. It aims to offer flexibility in trend identification by integrating a Jurik RSX momentum filter to highlight potential exhaustion points and trend reversals through dynamic color changes.

Usage

The script is designed to help traders identify prevailing market trends and potential reversal points. Users can choose their preferred calculation method:

• Regular SuperTrend: Uses the traditional Average True Range (ATR) calculation to define trend directions.
• Pivot Point SuperTrend: Utilizes Pivot Points instead of ATR to determine the trend baseline, offering a different perspective on price structure.
• ZigZag SuperTrend: Incorporates ZigZag logic to filter out minor price fluctuations and focus on significant market swings.

The Jurik RSX integration acts as a momentum filter. When the SuperTrend is in a bearish state but the RSX is overbought, the line changes to purple, signaling a potential reversal. Conversely, when the SuperTrend is bullish but the RSX is oversold, the line turns orange, suggesting the trend might be overextended.

Details

This tool combines several popular technical analysis concepts into a single interface. The Pivot Point version uses the relationship between recent high/low pivots and a calculated center line to determine trend shifts. The script also supports visual aids such as Buy/Sell labels, support and resistance levels (circles), and pivot point markers (H/L labels). The inclusion of the Jurik RSX provides a smoother version of the Relative Strength Index, reducing noise while maintaining responsiveness to price action.

Settings

RSX

• RSX Length: Sets the period for the Jurik RSX calculation.
• RSX Source: Determines the price data used for the RSX (e.g., hlc3).
• RSX OB/OS Levels: Defines the overbought (default 70) and oversold (default 30) thresholds.

ST Preference

• Use Regular ST?: Enables the standard ATR-based SuperTrend.
• Use Pivot Point ST?: Enables the Pivot Point-based calculation.
• Use ZigZag ST?: Enables the ZigZag-based SuperTrend logic.

Regular SuperTrend

• ATR Period/Multiplier: Adjusts the sensitivity of the standard SuperTrend calculation.
• Change ATR Calculation Method?: Toggles between different ATR calculation styles.

Pivot Point SuperTrend

• Pivot Point Period: Defines the lookback for identifying high and low pivots.
• ATR Factor/Period: Adjusts the offset from the pivot center line.
• Show Pivot/Labels/SR: Toggles visual markers for pivots, signals, and support/resistance levels.

FAQ

How do I access SuperTrendS?

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

What is the benefit of using Pivot Point SuperTrend?

Pivot Point SuperTrend relies on structural price levels rather than just volatility, which can help in identifying trends that respect specific historical price pivots.

How should I interpret the purple and orange colors?

These colors indicate "Momentum Divergence" against the current trend. Purple indicates a bearish trend with overbought momentum, while orange indicates a bullish trend with oversold momentum, both suggesting a potential exhaustion or reversal.