TradeStation recommend that the number of additional bars is equal to 4.5 multiplied by the Length input. In this video I estimated this to be 50. In other words, the exponential moving average for the current bar is equal to the exponential moving average for the previous bar plus the difference between the price of the current bar and the exponential moving average of the previous bar multiplied by a smoothing factor. If you open TradeStation’s XAverage function, you will see the calculation includes: XAverage = XAverage + SmoothingFactor * ( Price - XAverage ) Tutorial 173 uses the exponential moving average as part of its calculation. “Load additional data” is required for calculations that use the value of the calculation the previous bar to give the value for the current bar. This involves making sure that “load additional data for accumulative calculations” is selected and an appropriate number of bars is entered. The above video demonstrates how to set up Tutorial 173 (Markplex SuperTrend) in TradeStation RadarScreen. The indicator works best in trending markets but gets ‘whipsawed’ in other markets. moved closer to price) by using an acceleration factor which increases incrementally each bar by user input: AFStep up to a a maximum value of user input: MaxAF. In this Markplex version the SuperTrend value is also tightened (i.e. There are many different interpretations of the so-called SuperTrend indicator. When the dirction is down, the SupTrend can only decrease. When the direction is up (Dir = 1), the SupTrend value can only increase. Print( " C > ST c ",c," SupTrend ", SupTrend," ",BarColor) Direction is determined by the Close of a bar relative to the value of the SuperTrend, Upper and Lwr using the following code: If C > SupTrend then Respectively, depending on the direction. A user input multiple of the ATR is added to or subtracted from the average price to give Upper and Lwr This implementation calculates the Average True Range (ATR) of the average price using the exponential moving average.
Tutorial 173 | SuperTrend indicator is a stop and reverse (SAR) indicator that trails price action.
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