Supertrend on EMA

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Author

Posts

01/27/2022 at 6:54 PM #186760 quote

Participant

Senior

Dear All,

I would like to request your help for the conversion of the attached pinescript code for a supertrend indicator based on an exponential moving average.

You can follow the original script either here:

https://www.tradingview.com/script/xEtpZd0t/

or in the attached word file (where you can find also a picture of the aspect of the indicator).

Many thanks in advance

Loop

Supertrend-on-EMA.docx

01/28/2022 at 11:04 AM #186819 quote

supertiti

Participant

Master

//@version=2
study("Supertrend with EMA", overlay=true)
EmaPer = input(4, minval = 1, maxval = 100)
TrPer = input(7, minval = 1, maxval = 100)
factor=input(1.7, minval = 1, type = float, maxval = 10)

ema = ema(close, EmaPer)
up = ema - (factor * atr(TrPer))
down = ema + (factor * atr(TrPer))

TUp=ema[1]>TUp[1]? max(up,TUp[1]) : up
TDown=ema[1]<TDown[1]? min(down,TDown[1]) : down
Trend = ema >TDown[1] ? 1: ema <TUp[1]? -1: nz(Trend[1],1)

Trailingsl = Trend == 1 ?TUp :TDown
linecolor = Trend == 1 ? lime : red

plot(Trailingsl, color = linecolor, style = line, linewidth = 2)
plotarrow(Trend == 1 and Trend[1] == -1 ? Trend :na, title="Up Trend Arrow", colorup=blue, maxheight = 40, minheight = 30, transp=0)
plotarrow(Trend == -1 and Trend[1] == 1 ? Trend : na, title="Down Trend Arrow", colordown=black, maxheight = 40, minheight = 30, transp=0)

01/28/2022 at 8:11 PM #186883 quote

Loop

Participant

Senior

Thanks for your prompt reply, however the script is not really working…

Have you tried it?

Loop

02/15/2022 at 3:43 PM #188300 quote

robertogozzi

Moderator

Legend

It doesn’t work because it’s not written in the ProRealTime language.

02/18/2022 at 9:37 AM #188447 quote

Nicolas

Keymaster

Legend

Nothing too fancy, a Supertrend calculated on EMA of X periods:

Emaper=4
multiplier=1.7
period=7

moy=averagetruerange[period](close)
price=average[emaper,1]
up=price+multiplier*moy
dn=price-multiplier*moy
once trend=1
if close>up[1] then
trend=1
elsif close<dn[1] then
trend=-1
endif
if trend<0 and trend[1]>0 then
flag=1
else
flag=0
endif
if trend>0 and trend[1]<0 then
flagh=1
else
flagh=0
endif
if trend>0 and dn<dn[1] then
dn=dn[1]
endif
if trend<0 and up>up[1] then
up=up[1]
endif
if flag=1 then
up=price+multiplier*moy
endif
if flagh=1 then
dn=price-multiplier*moy
endif
if trend=1 then
mysupertrend=dn
else
mysupertrend=up
endif
if mysupertrend > mysupertrend[1] then
color1=0
color2=255
color3=0
elsif mysupertrend < mysupertrend[1] then
color1=255
color2=0
color3=0
endif

return mysupertrend coloured (color1,color2,color3) as "SuperTrend"