SuperRange - evo — Indicator by EvoCrypto

trendanalysis trends supertrend highest lowest close

A SuperTrend like indicator based on highest and lowest candle close from a few bars back. It looks almost the same as Donchian Channels but with a dominant trend direction inside (Black line).

Uptrend: Candle closed higher than highest close
Downtrend: Candle closed lower than lowest close

This works best on higher time frames since a daily close is more powerful than a 15 minute close.

A few examples how you could use this:

Use support & resistance

Apply a moving average

Buy and sell the break-out

All perfect world examples, this does not happen all the time off course.. Its just for the idea. There are many ways to trade this so feel free to share in the comments, good luck and follow the trend! :)

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

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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