Tutorial 173 | Markplex Tradestation EasyLanguage SuperTrend

Tutorial 173 | SuperTrend indicator is a stop and reverse (SAR) indicator that trails price action. This implementation calculates the Average True Range (ATR) of the average price using the exponential moving average. A user input multiple of the ATR is added to or subtracted from the average price to give Upper and Lwr respectively, depending on the direction. Direction is determined by the Close of a bar relative to the value of the SuperTrend.

When the direction is up (Dir = 1), the SupTrend value can only increase. When the direction is down, the SupTrend can only decrease.

There are many different interpretations of the so-called SuperTrend indicator. In this Markplex version the SuperTrend value is also tightened (i.e. moved closer to price) by using an acceleration factor which increases incrementally each bar by user input: AFStep up to a a maximum value of user input: MaxAF.

The indicator works best in trending markets but gets 'whipsawed' in other markets.

See https://markplex.com/free-tutorials/tutorial-173-markplex-supertrend/