This SuperTrend indicator is to be used in the daily timeframe.
This script plots the weekly Supertrend (parameters to be defined) in the daily chart.
Parameters to calculate the supertrend: Multiplier and Period. Recommendend values: Multiplier = 3; Period = 10;
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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" |
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Hi, Fer666 Thank you for sharing.
If I want to show daily ST on a 10_min intraday chart, can I just change the small portion code as below the rest keep as it… it should be be working right?
line 19 : change to
if WeekNo WeekNo[1] then
…
line 27: change to
if WeekStart = 1 then
….
would kindly appreciate your comment or anyone can help me?
Thanks
correction above… system had remove”not equal” signs
Line 19 : change to
if WeekNo “Not equal” WeekNo[1] then
OK… I had figured out… need more than that. Thank you anyway.