Good day,
I found this code in the library. I’m looking to to add a 4hr and 1hr Supertrend setting ( e.g 3:10 of each) on a 5min chart. Is it possible?
Regards,
Segie
rem ********************* Weekly ST in daily timeframe *******************
rem *********************** Created by F. Sacristan ******************
rem to be used in the daily timeframe
rem this script plots the weekly Supertrend (parameters to be defined) in the daily chart
rem Parameters to calculate the supertrend: Multiplier and Period. REcommendend values: Multiplier = 3; Period = 10
period=10
multiplier=3
WeekNo = dayofWeek
if barindex = 0 then
WeekStart = 1
else
if WeekNo < WeekNo[1] then
WeekStart = 1
else
WeekStart = 0
endif
endif
if WeekNo < WeekNo[1] then
WClosePrev = close[1]
WLow = low
WHigh = high
WLowPrev = WLow[1]
WHighPrev = WHigh[1]
else
WClosePrev = WClosePrev[1]
if low > WLow[1] then
WLow = WLow[1]
else
WLow = low
endif
if high > WHigh[1] then
WHigh = High
else
WHigh = WHigh[1]
endif
WLowPrev = WLowPrev[1]
WHighPrev = WHighPrev[1]
endif
WMid = 0.5*(WHighPrev + WLowPrev)
if barindex < Period then
STUp = 0
STDown = 0
else
if WeekStart = 1 then
TR1 = abs(WLowPrev - WClosePrev[1])
TR2 = abs(WHighPrev - WClosePrev[1])
TR3 = abs(WHighPrev - WLowPrev)
else
TR1 = TR1[1]
TR2 = TR2[1]
TR3 = TR3[1]
endif
TR4 = max(TR1,TR2)
TRX = max(TR3,TR4)
if WeekStart = 1 then
TRTrigger = TRX
Counter = Counter[1]+1
else
TRTrigger = 0
Counter = Counter[1]
endif
if Counter < Period then
SumTR = TRTrigger + SumTR[1]
else
SumTR = 0
endif
ATRAverage = SumTR/Counter
if Counter < Period then
ATR = ATRAverage
else
if WeekStart = 1 then
ATR = (ATR[1]*(Period-1)+TRTrigger)/Period
else
ATR = ATR[1]
endif
endif
STUpBasic = WMid + Multiplier*ATR
STDownBasic = WMid - Multiplier*ATR
if WeekStart = 1 then
if (STUpBasic < STUp[1]) or (WClosePrev[1]>STUp[1]) then
STUp = STUpBasic
else
STUp = STUp[1]
endif
else
STUp = STUp[1]
endif
if WeekStart = 1 then
if (STDownBasic > STDown) or (WClosePrev[1]< STDown[1]) then
STDown = STDownBasic
else
STDown = STDown[1]
endif
else
STDown = STDown[1]
endif
endif
if barindex < Period then
WeeklyST = STDown
endif
if barindex >= Period and WeekStart = 1 and WClosePrev[1] <= STDown[1] then
WeeklyST = STUp[1]
Trend = -1
elsif barindex >= Period and WeekStart =1 and WClosePrev[1] >= STUp[1] then
WeeklyST = STDown[1]
Trend = 1
elsif Trend = 1 then
WeeklyST = STDown[1]
elsif Trend = -1 then
WeeklyST = STUp[1]
endif
return WeeklyST as "Weekly ST"
