Supertrend with Target Price & ATREE [SS]

31 Jan 2024

Hey everyone,

Releasing this supertrend mashup indicator.
This is your basic supertrend, but with two additions:

1. The integration of the ATREE technical probability modeller; and
2. The use of ATR price targets for crossovers

ATREE
ATREE stands for Advanced Technical Range Expectancy Estimator. It has its very own indicator available here. If you are not that familiar with it, I would suggest heading over to that page and reading about it, because it gives you the in-depth details.

But for a recap, ATREE uses technical indicators such as RSI, Stochastics or Z-Score to predict the likely sentiment, whether it be bullish or bearish. The indicator allows you to select the ATREE model type and supports 3 separate probability models based on either:
1. RSI
2. Stochastics; or
3. Z-Score

If you want to know which model is most effective for the ticker and timeframe you are using, you can launch up the native ATREE indicator and review the backtesting results to ascertain which model performs optimally for that particular ticker on that particular timeframe.

When ATREE assesses the sentiment as bearish, you will get a red fill. When it assesses the sentiment as bullish, you will get a green fill. This will help you adjust your bias to focus on either dip buying or rip shorting.

The ATREE timeframe is also customizable, so you can pull data from higher timeframes than you are on.

ATR Price Targets
As with my EMA 9/21 crossover with the target price, this is essentially the same concept. When the trend shifts to bullish or bearish, bull and bear targets will be printed so you know where to look for potential reversal and you can also set realistic target prices if you are scalping or day trading.

Supertrend
The last and base feature is the supertrend. The supertrend settings are customizeable.
It will provide a green line for uptrend and a redline for downtrend, the basic supertrend functionality.

And that's the indicator!

Let me know what you think and hope you enjoy!

Safe trades as always!

31 Jan 2024

Nota Keluaran

Array fix