Supertrend By GemScope

Supertrend by GemScope – Strategy Summary

This is an **automated trading strategy (Pine Script v5)** based on the **Supertrend indicator**, enhanced with **EMA filtering**, **percentage-based stop loss**, and **visual trade analytics**.

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### 🔹 Core Strategy Logic

* Uses **Supertrend (ATR-based)** to detect market trend direction
* Trades **trend reversals and confirmations**
* Works on **both long and short positions**, or restricted to one side

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### 🔹 Trade Direction Options

* **Both Long & Short**
* **Long Only**
* **Short Only**

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### 🔹 Entry Conditions

#### 🟢 Long Entry

* Supertrend flips to **bullish**
* OR price crosses **above EMA 200**
* Long trades are allowed by settings
* If enabled: **price must be above EMA 200**
* Supertrend must confirm **uptrend**

#### 🔴 Short Entry

* Supertrend flips to **bearish**
* Short trades are allowed by settings

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### 🔹 Position Sizing

* Trade size is defined in **USD**
* Quantity is calculated automatically based on market price
* Quantity rounding is user-configurable

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### 🔹 Stop Loss (Risk Management)

* **Fixed percentage stop loss**
* Automatically placed after entry
* Works for both long and short positions
* No take-profit levels (trend-based exits instead)

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### 🔹 Exit Logic

* **Short positions close** when:

* Supertrend turns bullish
* Price moves above EMA 200
* **Long positions close** when:

* Supertrend gives a short signal

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### 🔹 Trend Protection

* Optional protection to **avoid closing shorts prematurely below EMA 200**
* EMA 200 acts as a **trend filter and support/resistance**

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### 🔹 Visual Features

* **EMA 200** plotted on chart
* **Supertrend line** with color-coded direction
* Real-time **entry & P&L labels** displayed on the right side
* Indicator dashboard (RSI, MACD, ADX, ATR) shown in a table

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### 🔹 Indicator Table Purpose

* Shows **market strength and bias**
* Helps identify whether **long or short positions are favored**
* Uses:

* RSI (momentum)
* MACD (trend direction)
* ADX (trend strength)
* ATR (volatility)

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### 🔹 Overall Objective

This strategy is designed to:

* Trade **strong trends**
* Filter false signals using EMA 200
* Control risk with **strict percentage stop loss**
* Provide **clear visual feedback** for decision-making