OPEN-SOURCE SCRIPT
[blackcat] L2 Barbara Star Supertrend Indicator
Level 2
Background
Barbara Star’s article on July 2023, “Stay On Track With The Supertrend Indicator”, I rewrote it as pine script for your information.
Function
A supertrend indicator is displayed either above or below the closing price to signal a buy or sell. The indicator changes color depending on whether you should buy or not. When the Supertrend indicator falls below the closing price, the indicator turns green, signaling one or more entry points to buy.
Author Barbara Star describes the Supertrend indicator and how it can be used as a means for traders to stay in sync with the larger trend. She explains how J. Welles Wilder's Average True Range (ATR) forms a basis for supertrend calculations. ATR does not measure price direction, but rather provides a measure of volatility over a period of time. The Supertrend indicator, on the other hand, provides a more comprehensive view of trend direction. In addition, the indicator provides price levels at which a trend reversal would occur.
Green color stands for up trend;
Red color stands for down trend.
Remarks
Feedbacks are appreciated.
Background
Barbara Star’s article on July 2023, “Stay On Track With The Supertrend Indicator”, I rewrote it as pine script for your information.
Function
A supertrend indicator is displayed either above or below the closing price to signal a buy or sell. The indicator changes color depending on whether you should buy or not. When the Supertrend indicator falls below the closing price, the indicator turns green, signaling one or more entry points to buy.
Author Barbara Star describes the Supertrend indicator and how it can be used as a means for traders to stay in sync with the larger trend. She explains how J. Welles Wilder's Average True Range (ATR) forms a basis for supertrend calculations. ATR does not measure price direction, but rather provides a measure of volatility over a period of time. The Supertrend indicator, on the other hand, provides a more comprehensive view of trend direction. In addition, the indicator provides price levels at which a trend reversal would occur.
Green color stands for up trend;
Red color stands for down trend.
Remarks
Feedbacks are appreciated.
开源脚本
本着真正的TradingView精神，此脚本的作者已将其开源，以便交易者可以理解和验证它。向作者致敬！您可以免费使用它，但在出版物中重复使用此代码受网站规则约束。 您可以收藏它以在图表上使用。
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免责声明
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