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.