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Triple SuperTrend Histo

Supertrend indicator uses a combination of a moving average and average true range to detect the trend of a trading instrument.

Supertrend indicator for MetaTrader 5 easily shows the trend as a line following the price.


Triple SuperTrend Histo

indicator calculate three supertrends to show the trend as a histogram.

Changing the color from red to green means you can BUY, from green to red means you can SELL.


Description of the method of drawing a histogram.

The price is above the EMA 200, I check the values of the supertrend.

Each price of the supertrend lines above is one point.

Three points is a strong BUY trend, color GREEN.


The price is below the EMA 200, I check the values of the supertrend.

Each price below the supertrend line is one point.

Three points is a strong SELL trend,  color RED.


You can use the second my indicator:

You will see 3 supertrends and EMA 200 lines on the screen.


Working with my product :
https://www.mql5.com/en/market/product/80692


USAGE THIS INDICATOR

If the closing prices are above Supertrend Line, there is a Bullish sentiment at that moment. The opposite is a Bearish sentiment.
Three green lines - Strong Bullish sentiment.
Three red lines - Bearish sentiment.

For BUY :

- Three green lines and price above EMA (200)

- Stop Loss below last supertrend red line.

For SELL:

- Three red lines and price bellow EMA (200)

- Stop Loss above last supertrend green line.


Some traders use the Supertrend Line as a Stop Loss boundary.


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EMA - The   exponential moving average (EMA) is one of the most commonly utilized forex trading tools. Traders use the EMA overlay on their trading charts to determine entry and exit points of a trade based on where the price action sits on the EMA. If it is high, the trader may consider a sale or short sale, and conversely if it is low, a buy. SSL -  Known as the SSL, the   S emaphore   S ignal   L evel channel chart alert is an indicator that combines moving averages to provide you with a cl
Supertrend   indicator uses a combination of a moving average and average true range to detect the trend of a trading instrument. Supertrend indicator for MetaTrader 5 easily shows the trend as a line following the price. You can use the second my indicator: You will see 3 supertrends and EMA 200 lines on the screen. Working with my product : https://www.mql5.com/en/market/product/80692
Robot usage: RSI, EMA, MFI to open trade.  RSI — Relative Strength Index — is an indicator created by Welles Wilder. The main objective for this indicator is to measure the strength of an instrument now against its history. To do it, the indicator compares price changes of up days to down days. The RSI indicator is a momentum as it shows the velocity of the upward or downward market movement, is an oscillator as it is bounded and oscillates between 0 and 100 level, and is a leading indicator a
Multicolor moving average (8x). Define period, color, line width. Set period =0  to off  moving average. The moving average (MA) indicator is one of the most used technical indicators for forex traders. It's   a formula used to calculate the averages of a market's movements over a longer time period (usually weeks or months rather than days) to identify trends , which is vital for a good forex trading strategy.
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Version 1.5 2022.05.05
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