This tutorial shows how Best SuperTrend Multiple ATR AFL can be used on charts of Amibroker to Trade
The default Supertrend indicator is a great tool to clearly identify trend. It is calculated by offsetting Average True Range (ATR) to create upper and lower band around prices. The direction of trend is decided by further using a stop-and-reverse trailing stop loss and then resetting the upper/lower bands when the TSL is breached.
We can further improvise the Supertrend strategy by using two different SuperTrend indicators for generating trade signals. A Buy Entry trade is generated when both Supertrend indicators are in an uptrend. However, the Buy trade will be exited when either of the Supertrend goes in a downtrend. This helps in exiting fast from the market when the trend is not intact.
Chart Time Frame: 15 minutes
SuperTrend 1 (ST1): ATR Factor = 3, ATR Periods = 10. SuperTrend 2 (ST2): ATR Factor = 6, ATR Periods = 20.
Buy: when both ST1 and ST2 indicate uptrend (both generate Buy signal at same time)
Sell: when either of ST1 or ST2 indicates downtrend
Step 1: Make sure you have completed Jump Start setup
Step 2: Download AFL from here. In Amibroker, Go to Formula editor and paste the AFL here.
Step 3: Add Separate Entry Exit Automation AFL after strategy AFL to the AFL and hit Apply.
Step 4: Right Click on the chart and go to Parameters to adjust the inputs of the strategy.