Strategy · Pine Script v5 · On the chart

Supertrend Strategy

by imzeeshan

This systematic trend-following strategy executes long trades based on Supertrend indicator flips.

View on GitHub

GitHub stars3on the repository
Pine versionv5runs as is
Lines of code62
Settings9inputs
LicenceMIT
Last update2 years ago8 Jul 2024

Add It to Your TradingView Chart

  1. 1Copy the scriptPress Copy script above, or the copy button on the code below.
  2. 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
  3. 3Paste over the templateCreate a new strategy, select all of the template text and paste. Press Save and give it a name.
  4. 4Add it to the chartPress Add to chart. The trades and results appear in the Strategy Tester tab; adjust the settings with the gear icon.

Source Code

62 lines of Pine Script v5 from strategies/trend-follow/SuperTrendFollow/scripts/SuperTrendFollowStrategy.pinescript, published under MIT. Keep the author's credit and licence lines when you reuse it.

SuperTrendFollowStrategy.pinescript
//@version=5
//@Author: @GeorgeFreelanceDeveloper, @LucyFreelanceDeveloper
strategy("Supertrend Strategy", overlay=true, default_qty_type=strategy.percent_of_equity, default_qty_value=15)

// ********************************
// User defined inputs
// ********************************

var G_BASIC_SETTINGS = "Basic settings"
var G_FILTER_SETTINGS  = "Filter settings"
var G_TIME = "Time settings"

atrPeriod = input.int(defval = 10, title = "ATR Length", group = G_BASIC_SETTINGS)
factor = input.float(defval = 3.0, title = "Factor", step = 0.01, group = G_BASIC_SETTINGS)

riskPercentage = input.float(defval = 1.00, title = "Risk per trade", step = 0.01, group = G_BASIC_SETTINGS)
atrMultiplier = input.int(defval = 2, title = "ATR multiplier", group = G_BASIC_SETTINGS)
atrLength = input.int(defval = 20, title = "ATR length", group = G_BASIC_SETTINGS)

enableFilter = input.bool(defval = false, title = "Enable filter", tooltip = "Filter is close price is above 200 day simple moving average of benchmark",  group = G_FILTER_SETTINGS)
benchmarkSymbol = input.symbol(defval = "SPX", title = "Benchmark", group = G_FILTER_SETTINGS)

fromDateTime = input.time(defval = timestamp("2012-01-01T01:01+0000"), title = "From Date and time", group = G_TIME) 
toDateTime = input.time(defval = timestamp("9999-01-01T01:01+0000"), title = "To Date and time", group = G_TIME)


// ********************************
// Functions
// ********************************
tradeDateIsAllowed() => time >= fromDateTime and time <= toDateTime


// **********************************
// Perform calculations and analysis
// **********************************

// Filter
benchmarkSymbolClose = request.security(benchmarkSymbol,"1D", close)
filter = enableFilter ? benchmarkSymbolClose[1] >= ta.sma(source = benchmarkSymbolClose, length = 200) : true

// Trade amount
qty = ((riskPercentage/100)*strategy.equity) / (atrMultiplier * ta.atr(atrLength))

[superTrendValue, direction] = ta.supertrend(factor, atrPeriod)

buyCondition = ta.change(direction) < 0 and filter and tradeDateIsAllowed() // ta.change(direction) < 0 if ta.change(direction) return -1 then we go long
sellCondition = ta.change(direction) > 0 and tradeDateIsAllowed() // ta.change(direction) > 0 if ta.change(direction) return 1 then we go short

// ********************************
// Draw outputs
// ********************************
//plot(strategy.equity, title="equity", color=color.red, linewidth=2, style=plot.style_areabr)


// ********************************
// Manage trade
// ********************************
if (buyCondition)
    strategy.entry("My Long Entry Id", strategy.long,qty = qty)

if (sellCondition)
    strategy.close("My Long Entry Id")

Overview

Entry occurs when the Supertrend direction turns bullish, provided the date range and optional benchmark filter are satisfied. The benchmark filter verifies whether a chosen index, such as the SPX, trades above its 200-day simple moving average. Position sizes are determined dynamically based on account equity and ATR volatility. Trades are closed when the Supertrend turns bearish. The strategy overlays on the main chart and relies on reversal exits without hard stop-loss orders.

Details

Published by

imzeeshan on GitHub

Draws

On the price chart

Markets

Any symbol

Timeframes

Any timeframe

Risk Notes

  • The strategy enters trades without a stop loss

Settings

The inputs you can change from the gear icon on the chart. Defaults are the author's.

SettingTypeDefaultVariable
ATR Lengthint10atrPeriod
Factorfloat3.0factor
Risk per tradefloat1.00riskPercentage
ATR multiplierint2atrMultiplier
ATR lengthint20atrLength
Enable filterboolfalseenableFilter
BenchmarksymbolSPXbenchmarkSymbol
From Date and timetimetimestamp("2012-01-01T01:01+0000")fromDateTime
To Date and timetimetimestamp("9999-01-01T01:01+0000")toDateTime
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.

Similar Pine Scripts

330 stars

This strategy calculates Bollinger Bands and Aroon oscillator values to identify mean-reversion opportunities. It enters a long position using full equity when the closing price crosses below the lower Bollinger Band while Aroon Up remains above a user-specifi

Strategy v5 Mean reversionVolatility & bands
Updated 2 months ago · None stated GitHub repository of Bollinger bands + Aroon [Alorse]
257 stars

This overlay strategy targets one-minute ES futures and plots volume-weighted moving-average bands from the open, scaled by a standard-deviation multiple, plus a slower band from ten-minute opens. A higher-timeframe exponential moving average can filter trades

Strategy v6 Moving averagesVolatility & bands
Updated 7 weeks ago · None stated GitHub repository of ES - Futures 1M No Repaint

Nasdaq Prop Firm Strategy

by TradersPost
228 stars

This strategy uses multiple VWAP anchors and a custom Lull indicator to generate buy and sell signals on the Nasdaq price chart. It plots the VWAP trend line and three VWAP anchors with customizable colors and mitigation methods. The Lull indicator produces si

Strategy v6 TrendSupport & resistance Repaints
Updated 3 months ago · None stated GitHub repository of Nasdaq Prop Firm Strategy

STRG-BBForce

by harryguiacorn
220 stars

STRG-BBForce is a Bollinger Bands trend-following strategy. It calculates standard Bollinger Bands and tracks directional alignment across the upper, lower, and basis lines. When all three lines slope upward, it opens a long position and closes short positions

Strategy v5 TrendVolatility & bands
Updated 1 year ago · None stated GitHub repository of STRG-BBForce

This strategy implements a single-layer perceptron machine learning model built from scratch to generate trading signals directly on the price chart. It calculates predictions based on sample size, threshold settings, and optional volatility or volume filters.

Strategy v5 AI / machine learningTrend
Updated 1 year ago · None stated GitHub repository of Machine Learning: Perceptron-Based Strategy [5] (v.3)
106 stars

This overlay strategy plots a two-timeframe Ichimoku setup on the price chart, with Tenkan, Kijun, Chikou, and Kumo from a base higher timeframe and an optional highest-timeframe cloud. It allows two entries in the same direction and uses ATR-based trailing st

Strategy v4 TrendVolatility & bands
Updated 2 years ago · GPL-3.0 GitHub repository of 2Tier Ichimoku Pyramiding [Takazudo]

More Trend scripts

Related on ForexR

Trade Your Charts With a Regulated Broker

Compare brokers that connect to TradingView, with spreads, minimum deposits and leverage side by side.

Compare brokers