blindfreddy

SuperTrend BF

I am republishing this indicator as something changed within TradingView's script engine so that the old script ceased to function ( a minor syntax error that used to be acceptable but no longer is).
Anyhow here's the fixed version which as you can see has done a great job of keeping us on the right side of the trend with once-hot stocks like Skyworks !

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

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Want to use this script on a chart?
//SuperTrend - Originally by Olivier Seban
//Programmed by BlindFreddy 
//Blog: http://blindfreddy.postagon.com
study(title="SuperTrend BF", overlay = true)
Length = input(10, minval=1),
mult = input(3, type=float,minval=1)
avgTR = atr(Length)
newshortband = hl2 + avgTR * mult
newlongband = hl2 - avgTR * mult
longband=close[1]>=longband[1]? max(newlongband,longband[1]):newlongband
shortband = close[1]<=shortband[1]? min(newshortband,shortband[1]) : newshortband
trend = close > shortband[1] ? 1: close< longband[1]? -1: nz(trend[1],1)
supt = trend==1? longband: shortband
dotcolor = trend==1? green: maroon
plot(supt, color= dotcolor , style=circles, linewidth=3,title="SuperTrend")