This indicator combines 3 supertrend indicators (a fast, medium and slow) with stochastic RSI and 200 EMA. It only gives short signals if price is under the 200 EMA and long signals if price is over the 200 EMA. Secondly it will only show you a short entry if the stochastic RSI is in the overbought territory and a long signal if the stochastic RSI is in the oversold territory. Finally, 2 of the supertrend lines must be over the candles for a sell and two of the supertrend lines under the candles for a buy. By default the script only displays the slow supertrend line which can be used as a guide for stop loss but the medium and fast lines can be revealed via the settings. Typically you can target 1.5 x risk for TP if using the slow supertrend line as a stop loss. Use the alerts to ensure you don't miss a potential entry.
Notes de version
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Changed the chart to make it clearer to see what's going on.
Thanks for making this. Is it possible to add user defined EMA input and also two inputs for EMA crossover.
Fire01
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This is insane, I literally searched for exactly this... Thank you!!!
Talorthain
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Hi, could you combine the alerts for buy and sell?
naturesdream48
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Hi How can we get the source code?
Hociemocie
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This is just wonderful - so, so good! Than you for sharing it with us!
Fancesco_mosca
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Very usefull,it is possible to get the source code?, i would like to do some improvements
Joaquidilascio
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I have been backtesting this strategy by hand Long Only with RSI source on max Stop loss on slow supertrend or pullback whichever is further away Target 1:1 Ethereum 1H chart and BTC 30M chart from Jan to march 2022
Very promising results! over 70% winrate! With variable Target to fast supertrend after 1:1 is hit the winrate drops but some trades get you huge gains. i would love to code a strategy to backtest big chunks of data.
goldfinance
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Thanks for the work. Still i have a problem, I get buy signals with Stochastic RSI in the overbought area, and vice versa. I'm using default settings.
firegenie
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@goldfinance, Thanks for letting me know. What chart symbol/timeframe did you see this on? I'll take a look and will do my best to fix.