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SuperTrend Trapping Candle Strategy

Hello traders!
How this indicator works?
The main functionality of this indicator is to find entry based upon SuperTrend indicator. This indicator helps us to find trapping candle to enter into the market.
What is a trapping candle?
A trapping candle is a candle that shows strength in opposite direction to SuperTrend. This helps us to enter in a trade before the move start in the current trend's direction. There are two types of trapping candles signals I have added currently:
1. Volume is high than previous candle in the opposite direction.
2. 3 candles of opposite direction with decreasing volume .
How to enter in a trade in uptrend market?
SuperTrend shows a green signal
A green triangle formed below red candle
Enter into the trade when price is above red candle high
SL could be place below red candle or swing low if it is near
How to enter in a trade in downtrend market?
SuperTrend shows a red signal
A red triangle formed above green candle
Enter into the trade when price is below green candle low
SL could be place above green candle high or swing high if it is near
How to avoid to enter in a trade in sideways market?
You can follow price action strategies
Or you can follow some indicator to find sideways market
Indicator settings and how to change?
ATR Length - For SuperTrend, this is default value.
Factor - For SuperTrend, changed to 2 to provide fast signals.
Candle Height - For trapping candle price, default set to 0.003% of the current price.
How this indicator works?
The main functionality of this indicator is to find entry based upon SuperTrend indicator. This indicator helps us to find trapping candle to enter into the market.
What is a trapping candle?
A trapping candle is a candle that shows strength in opposite direction to SuperTrend. This helps us to enter in a trade before the move start in the current trend's direction. There are two types of trapping candles signals I have added currently:
1. Volume is high than previous candle in the opposite direction.
2. 3 candles of opposite direction with decreasing volume .
How to enter in a trade in uptrend market?
SuperTrend shows a green signal
A green triangle formed below red candle
Enter into the trade when price is above red candle high
SL could be place below red candle or swing low if it is near
How to enter in a trade in downtrend market?
SuperTrend shows a red signal
A red triangle formed above green candle
Enter into the trade when price is below green candle low
SL could be place above green candle high or swing high if it is near
How to avoid to enter in a trade in sideways market?
You can follow price action strategies
Or you can follow some indicator to find sideways market
Indicator settings and how to change?
ATR Length - For SuperTrend, this is default value.
Factor - For SuperTrend, changed to 2 to provide fast signals.
Candle Height - For trapping candle price, default set to 0.003% of the current price.
Açık kaynak kodlu komut dosyası
Gerçek TradingView ruhuna uygun olarak, bu komut dosyasının oluşturucusu bunu açık kaynaklı hale getirmiştir, böylece yatırımcılar betiğin işlevselliğini inceleyip doğrulayabilir. Yazara saygı! Ücretsiz olarak kullanabilirsiniz, ancak kodu yeniden yayınlamanın Site Kurallarımıza tabi olduğunu unutmayın.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Açık kaynak kodlu komut dosyası
Gerçek TradingView ruhuna uygun olarak, bu komut dosyasının oluşturucusu bunu açık kaynaklı hale getirmiştir, böylece yatırımcılar betiğin işlevselliğini inceleyip doğrulayabilir. Yazara saygı! Ücretsiz olarak kullanabilirsiniz, ancak kodu yeniden yayınlamanın Site Kurallarımıza tabi olduğunu unutmayın.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.