The Super Trend Profit Indicator was developed by a group of traders in the early 2000s and has been widely used in the Forex market since its inception.
The Super Trend Profit Indicator is a highly sought-after tool among Forex traders due to its clear and direct trade signaling, guiding traders from entry to exit in the market. Its main feature is the display of “Buy” or “Sell” signals directly on the main chart, ensuring that no trade opportunities are missed. This powerful indicator is a must-have for any serious Forex trader.
What is the Super Trend Profit Indicator?
The Super Trend Profit Indicator is a popular tool among Forex traders that helps to identify trend changes in the market. It is a combination of two indicators, the moving average and the average true range (ATR), that work together to provide traders with a clear and concise picture of the market’s direction.
What are the key Features of the Super Trend Profit Indicator?
- It uses a combination of moving averages and average true range to identify trend changes.
- It provides clear and concise signals for buy and sell orders.
Super Trend Profit Indicator Overview
After installing the Super Trend Profit Indicator on your Forex MT4 terminal, your trading chart will resemble the image below:
The Super Trend Profit Indicator utilizes the slope of a moving average to determine the current market trend. When the slope is white, it indicates a bullish trend and the text “Buy” is displayed, signaling a good time to enter a long position. Conversely, when the slope turns red, it signals a bearish trend and the text “Sell” appears, indicating a good time to enter a short position, upon entering a trade, it is recommended to hold the position and only exit when the indicator displays a signal indicating a reversal of the current trend.
Super Trend Profit Strategy
Buy Signal
When the market is showing an upward trend, the Super Trend Profit Indicator will give a signal to buy by changing its line from red to blue. This is a sign that the market is moving in a positive direction and it is a good opportunity to purchase.
Parameters
- The price remaining above the indicator line.
- The indicator line turning white.
- Placing a long trade when the text “Buy” appears under the signal candle.
- Setting a stop loss below the low point of the signal candle.
- Exiting the long trade or taking profit when the indicator line turns red.
Sell Signal
The Super Trend Profit Indicator sends a sell signal when the market is trending downward and the indicator’s line changes from blue to red. This is an indication that the market is moving in a negative direction and a good time to sell.
Parameters
- The price stays below the indicator line.
- The indicator line changes to red.
- A short trade is executed when the “Sell” signal is displayed above the signal candle.
- A stop loss is set above the highest point of the signal candle.
- The short trade is profit should be taken when the indicator line turns white.
Super Trend Profit Indicator Pros & Cons
Pros
- Provides clear and concise signals for buy and sell orders.
- Uses a combination of indicators to provide a more accurate picture of market direction.
- Widely used and accepted among Forex traders.
Cons
- May generate false signals in a sideways market.
- May produce a delay in signals in volatile market conditions.
- It requires proper understanding and interpretation of the signals.
Conclusion
The Super Trend Profit Indicator is a popular choice among Forex traders because of its straightforward and clear trade signals. Created by a group of traders in the early 2000s, it can be a helpful tool for detecting changes in market trends. By combining moving averages and average true range, the indicator gives traders a clear understanding of the market’s direction. Its defining feature is the display of “Buy” or “Sell” signals prominently o the main chart, making it easy to spot trading opportunities.
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