This SuperTrend indicator helps identify market trends based on Average True Range (ATR) volatility. Released under MIT license for free and open-source use.

Core Formula

  • Upper Band = Source Price + (Multiplier × ATR)
  • Lower Band = Source Price - (Multiplier × ATR)
  • In uptrend: SuperTrend = Lower Band (green)
  • In downtrend: SuperTrend = Upper Band (red)

Usage

  • Green line indicates uptrend (potential buying opportunities)
  • Red line indicates downtrend (potential selling opportunities)
  • Can be used for trend following strategies or identifying reversals
  • Works well as a trailing stop mechanism

Installation

  1. Copy the file to your MetaTrader 5 indicators folder (typically located at Terminal_Directory\MQL5\Indicators\ )
  2. Restart MetaTrader 5 or refresh the Navigator panel
  3. Drag the indicator onto any chart

Parameters

  • ATRPeriod: Period for ATR calculation (default: 22)
  • Multiplier: ATR multiplier to adjust sensitivity (default: 3.0)
  • SourcePrice: Price type used for calculations
  • TakeWicksIntoAccount: Whether to include price wicks in calculations