OPEN-SOURCE SCRIPT
Supertrend + Stochastic Strategy
SUPERTREND + STOCHASTIC STRATEGY
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📊 OVERVIEW
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A professional trading indicator that combines the trend-following power of Supertrend with the momentum analysis of Stochastic Oscillator. This dual confirmation system helps traders identify high-probability entry and exit points by requiring both trend alignment and momentum confirmation.
═══════════════════════════════════════════════════════════════
🎯 HOW IT WORKS
═══════════════════════════════════════════════════════════════
The strategy uses two core components working together:
1. SUPERTREND INDICATOR (Trend Filter)
• Identifies the overall market direction
• Green line = Bullish trend
• Red line = Bearish trend
• Acts as the primary filter to avoid counter-trend trades
2. STOCHASTIC OSCILLATOR (Momentum Confirmation)
• Measures the strength of price movement
• K Line (fast) crosses D Line (slow) to generate signals
• Identifies oversold/overbought conditions
• Works behind the scenes to confirm trend changes
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📈 SIGNAL LOGIC
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BUY SIGNALS:
A buy signal is generated when ALL conditions are met:
✓ Supertrend changes from red to green (trend reversal)
✓ Price closes above the Supertrend line
✓ Stochastic K line crosses above D line
✓ Minimum distance from previous signal has passed
STRONG BUY SIGNALS:
Same as regular buy + coming from oversold zone (below 20)
• Considered more reliable
• Displayed as larger filled circle (●)
SELL SIGNALS:
A sell signal is generated when ALL conditions are met:
✓ Supertrend changes from green to red (trend reversal)
✓ Price closes below the Supertrend line
✓ Stochastic K line crosses below D line
✓ Minimum distance from previous signal has passed
STRONG SELL SIGNALS:
Same as regular sell + coming from overbought zone (above 80)
• Considered more reliable
• Displayed as larger filled circle (●)
═══════════════════════════════════════════════════════════════
⚙️ CUSTOMIZABLE SETTINGS
═══════════════════════════════════════════════════════════════
SUPERTREND SETTINGS:
• ATR Period (default: 10) - Controls sensitivity to price changes
• ATR Multiplier (default: 3.0) - Adjusts distance from price
STOCHASTIC SETTINGS:
• K Period (default: 14) - Lookback period for calculation
• D Period (default: 3) - Smoothing for signal line
• K Smoothing (default: 3) - Additional smoothing for K line
• Oversold Level (default: 20) - Defines oversold zone
• Overbought Level (default: 80) - Defines overbought zone
SIGNAL SETTINGS:
• Show Buy/Sell Signals - Toggle signal visibility
• Show Labels - Display text labels (when enabled, replaces circles)
• Professional Signal Style - Choose between circles (modern) or triangles (classic)
• Minimum Candles Between Signals (default: 5) - Reduces noise
• Strong Signals Only - Filter to show only high-quality signals
═══════════════════════════════════════════════════════════════
💡 HOW TO USE
═══════════════════════════════════════════════════════════════
FOR BEGINNERS:
1. Wait for a signal to appear on the chart
2. Verify price is moving in the signal direction
3. Enter the trade when the signal candle closes
4. Place stop loss below/above recent swing low/high
5. Exit when opposite signal appears or target is reached
FOR ADVANCED TRADERS:
1. Use "Strong Signals Only" for higher quality trades
2. Combine with support/resistance levels
3. Apply proper risk management (1-2% per trade)
4. Consider higher timeframe trend alignment
5. Avoid trading during major news events
BEST PRACTICES:
⚠️ Strong signals (●) are more reliable than regular signals (○)
📊 Works best on H1 timeframe and above
🎯 Enable "Strong Signals Only" to reduce false signals
📈 Most effective in trending markets
🔔 Set up alerts for instant notifications
═══════════════════════════════════════════════════════════════
🎨 VISUAL DISPLAY
═══════════════════════════════════════════════════════════════
DEFAULT MODE (Professional Style):
• Supertrend Line: Green (bullish) / Red (bearish)
• Strong Buy: Large green circle ●
• Regular Buy: Small green circle ○
• Strong Sell: Large red circle ●
• Regular Sell: Small red circle ○
• Dashboard: Live status display (top right)
WITH LABELS ENABLED:
• Text labels replace circles completely
• "STRONG BUY" / "BUY" / "STRONG SELL" / "SELL"
• Clean and clear text-based signals
CLASSIC MODE (Professional Style OFF):
• Traditional triangle arrows (▲ ▼)
• Larger triangles for strong signals
• Smaller triangles for regular signals
═══════════════════════════════════════════════════════════════
📊 RECOMMENDED TIMEFRAMES
═══════════════════════════════════════════════════════════════
✅ EXCELLENT: 4H, Daily, Weekly
⚠️ GOOD: 1H, 2H
❌ NOT RECOMMENDED: Below 1H (too much noise)
═══════════════════════════════════════════════════════════════
🎓 UNIQUE FEATURES
═══════════════════════════════════════════════════════════════
1. SMART FILTERING: Prevents repetitive signals within short periods
2. DUAL CONFIRMATION: Combines trend and momentum for stronger signals
3. SIGNAL CLASSIFICATION: Distinguishes between strong and regular signals
4. COMPREHENSIVE ALERTS: Instant notifications for all signal types
5. CLEAN INTERFACE: Professional design that doesn't clutter the chart
6. FULL FLEXIBILITY: All settings customizable to match your trading style
7. VISUAL OPTIONS: Choose between circles, triangles, or text labels
8. LIVE DASHBOARD: Real-time indicator status at a glance
═══════════════════════════════════════════════════════════════
⚠️ RISK DISCLOSURE
═══════════════════════════════════════════════════════════════
This indicator is a technical analysis tool and does NOT guarantee profits. Trading financial markets involves substantial risk and you may lose your entire capital.
IMPORTANT REMINDERS:
❌ Do not rely solely on this indicator
✅ Use strict risk management rules
✅ Test the strategy on a demo account first
✅ Combine with other technical analysis tools
✅ Never risk money you cannot afford to lose
✅ Past performance does not guarantee future results
This indicator is for educational and informational purposes only and should not be considered as financial advice.
═══════════════════════════════════════════════════════════════
📝 VERSION NOTES
═══════════════════════════════════════════════════════════════
VERSION 1.0 - Initial Release
• Supertrend + Stochastic integration
• Dual confirmation signal system
• Strong vs regular signal classification
• Smart signal filtering to reduce noise
• Professional circular display (default)
• Classic triangle display (optional)
• Text label display (optional)
• Live dashboard with indicator status
• Customizable alert system
• Full parameter flexibility
═══════════════════════════════════════════════════════════════
🔗 SUPPORT
═══════════════════════════════════════════════════════════════
If you have questions or suggestions for improving this indicator, please leave a comment below. Feedback is always appreciated!
═══════════════════════════════════════════════════════════════
Developed by: mfsz2015
Language: Pine Script v5
Type: Trading Indicator
License: Mozilla Public License 2.0
═══════════════════════════════════════════════════════════════
TAGS: #Supertrend #Stochastic #Strategy #Trading #TechnicalAnalysis #Signals #Forex #Crypto #Stocks #Momentum #Trend
═══════════════════════════════════════════════════════════════
📊 OVERVIEW
═══════════════════════════════════════════════════════════════
A professional trading indicator that combines the trend-following power of Supertrend with the momentum analysis of Stochastic Oscillator. This dual confirmation system helps traders identify high-probability entry and exit points by requiring both trend alignment and momentum confirmation.
═══════════════════════════════════════════════════════════════
🎯 HOW IT WORKS
═══════════════════════════════════════════════════════════════
The strategy uses two core components working together:
1. SUPERTREND INDICATOR (Trend Filter)
• Identifies the overall market direction
• Green line = Bullish trend
• Red line = Bearish trend
• Acts as the primary filter to avoid counter-trend trades
2. STOCHASTIC OSCILLATOR (Momentum Confirmation)
• Measures the strength of price movement
• K Line (fast) crosses D Line (slow) to generate signals
• Identifies oversold/overbought conditions
• Works behind the scenes to confirm trend changes
═══════════════════════════════════════════════════════════════
📈 SIGNAL LOGIC
═══════════════════════════════════════════════════════════════
BUY SIGNALS:
A buy signal is generated when ALL conditions are met:
✓ Supertrend changes from red to green (trend reversal)
✓ Price closes above the Supertrend line
✓ Stochastic K line crosses above D line
✓ Minimum distance from previous signal has passed
STRONG BUY SIGNALS:
Same as regular buy + coming from oversold zone (below 20)
• Considered more reliable
• Displayed as larger filled circle (●)
SELL SIGNALS:
A sell signal is generated when ALL conditions are met:
✓ Supertrend changes from green to red (trend reversal)
✓ Price closes below the Supertrend line
✓ Stochastic K line crosses below D line
✓ Minimum distance from previous signal has passed
STRONG SELL SIGNALS:
Same as regular sell + coming from overbought zone (above 80)
• Considered more reliable
• Displayed as larger filled circle (●)
═══════════════════════════════════════════════════════════════
⚙️ CUSTOMIZABLE SETTINGS
═══════════════════════════════════════════════════════════════
SUPERTREND SETTINGS:
• ATR Period (default: 10) - Controls sensitivity to price changes
• ATR Multiplier (default: 3.0) - Adjusts distance from price
STOCHASTIC SETTINGS:
• K Period (default: 14) - Lookback period for calculation
• D Period (default: 3) - Smoothing for signal line
• K Smoothing (default: 3) - Additional smoothing for K line
• Oversold Level (default: 20) - Defines oversold zone
• Overbought Level (default: 80) - Defines overbought zone
SIGNAL SETTINGS:
• Show Buy/Sell Signals - Toggle signal visibility
• Show Labels - Display text labels (when enabled, replaces circles)
• Professional Signal Style - Choose between circles (modern) or triangles (classic)
• Minimum Candles Between Signals (default: 5) - Reduces noise
• Strong Signals Only - Filter to show only high-quality signals
═══════════════════════════════════════════════════════════════
💡 HOW TO USE
═══════════════════════════════════════════════════════════════
FOR BEGINNERS:
1. Wait for a signal to appear on the chart
2. Verify price is moving in the signal direction
3. Enter the trade when the signal candle closes
4. Place stop loss below/above recent swing low/high
5. Exit when opposite signal appears or target is reached
FOR ADVANCED TRADERS:
1. Use "Strong Signals Only" for higher quality trades
2. Combine with support/resistance levels
3. Apply proper risk management (1-2% per trade)
4. Consider higher timeframe trend alignment
5. Avoid trading during major news events
BEST PRACTICES:
⚠️ Strong signals (●) are more reliable than regular signals (○)
📊 Works best on H1 timeframe and above
🎯 Enable "Strong Signals Only" to reduce false signals
📈 Most effective in trending markets
🔔 Set up alerts for instant notifications
═══════════════════════════════════════════════════════════════
🎨 VISUAL DISPLAY
═══════════════════════════════════════════════════════════════
DEFAULT MODE (Professional Style):
• Supertrend Line: Green (bullish) / Red (bearish)
• Strong Buy: Large green circle ●
• Regular Buy: Small green circle ○
• Strong Sell: Large red circle ●
• Regular Sell: Small red circle ○
• Dashboard: Live status display (top right)
WITH LABELS ENABLED:
• Text labels replace circles completely
• "STRONG BUY" / "BUY" / "STRONG SELL" / "SELL"
• Clean and clear text-based signals
CLASSIC MODE (Professional Style OFF):
• Traditional triangle arrows (▲ ▼)
• Larger triangles for strong signals
• Smaller triangles for regular signals
═══════════════════════════════════════════════════════════════
📊 RECOMMENDED TIMEFRAMES
═══════════════════════════════════════════════════════════════
✅ EXCELLENT: 4H, Daily, Weekly
⚠️ GOOD: 1H, 2H
❌ NOT RECOMMENDED: Below 1H (too much noise)
═══════════════════════════════════════════════════════════════
🎓 UNIQUE FEATURES
═══════════════════════════════════════════════════════════════
1. SMART FILTERING: Prevents repetitive signals within short periods
2. DUAL CONFIRMATION: Combines trend and momentum for stronger signals
3. SIGNAL CLASSIFICATION: Distinguishes between strong and regular signals
4. COMPREHENSIVE ALERTS: Instant notifications for all signal types
5. CLEAN INTERFACE: Professional design that doesn't clutter the chart
6. FULL FLEXIBILITY: All settings customizable to match your trading style
7. VISUAL OPTIONS: Choose between circles, triangles, or text labels
8. LIVE DASHBOARD: Real-time indicator status at a glance
═══════════════════════════════════════════════════════════════
⚠️ RISK DISCLOSURE
═══════════════════════════════════════════════════════════════
This indicator is a technical analysis tool and does NOT guarantee profits. Trading financial markets involves substantial risk and you may lose your entire capital.
IMPORTANT REMINDERS:
❌ Do not rely solely on this indicator
✅ Use strict risk management rules
✅ Test the strategy on a demo account first
✅ Combine with other technical analysis tools
✅ Never risk money you cannot afford to lose
✅ Past performance does not guarantee future results
This indicator is for educational and informational purposes only and should not be considered as financial advice.
═══════════════════════════════════════════════════════════════
📝 VERSION NOTES
═══════════════════════════════════════════════════════════════
VERSION 1.0 - Initial Release
• Supertrend + Stochastic integration
• Dual confirmation signal system
• Strong vs regular signal classification
• Smart signal filtering to reduce noise
• Professional circular display (default)
• Classic triangle display (optional)
• Text label display (optional)
• Live dashboard with indicator status
• Customizable alert system
• Full parameter flexibility
═══════════════════════════════════════════════════════════════
🔗 SUPPORT
═══════════════════════════════════════════════════════════════
If you have questions or suggestions for improving this indicator, please leave a comment below. Feedback is always appreciated!
═══════════════════════════════════════════════════════════════
Developed by: mfsz2015
Language: Pine Script v5
Type: Trading Indicator
License: Mozilla Public License 2.0
═══════════════════════════════════════════════════════════════
TAGS: #Supertrend #Stochastic #Strategy #Trading #TechnicalAnalysis #Signals #Forex #Crypto #Stocks #Momentum #Trend
Skrip sumber terbuka
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Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.