Kolier SuperTrend Indicator, Harness SuperTrend Powerful

Description

A trend tracking tool called the Kolier SuperTrend Indicator for MetaTrader is intended to spot possible trend reversal zones. In order to determine high likelihood reversal points, the indicator is designed with technical restrictions to compute the price’s median and average true range (ATR).

For scalpers as well as day/intraday traders, the Kolier SuperTrend indicator is an excellent tool. Furthermore, because of its effectiveness and simplicity, it will be quite helpful to novice forex traders. However, it will be useful for convergent trade setups and exits for seasoned traders.

A non-repainting indicator: what is it?

Indicators that shift (recolor) the position of the set signal (such as the arrow) to a different place in support of price movement are referred to as indicators without repaint. These indicator sets have the potential to provide erroneous signals, which makes them unreliable.

Does it repaint the Super Trend indicator?

Signals on the Super Trend indicator stay in the same spot, don’t repaint, and don’t go away. This is due to the fact that it ignores the current candle’s data. On the other hand, it suggests a possible reversal level using closed candle data.

Kolier SuperTrend Indicator Signals for Buy and Sell

Once installed, the Kolier SuperTrend indicator will appear on your chart as seen in the screenshot above. Additionally, it demonstrates how to use the signal to enter a trade that has a good chance of success.

BLUE and RED lines and arrows make up the Kolier SuperTrend indicator. Whereas the red arrow and lines are bearish, the blue arrow and dotted lines are bullish.

The indicator is a useful tool that can be utilized on its own. To make better trades, it is advised to employ price movement in conjunction with an indication. In light of this, price movement also served as the basis for the BUY/SELL remarks above.

BUY setup: after the price confirms that it is bullish, wait for the indicator to show a blue arrow and dotted lines, and then enter a BUY/LONG position. Following the formation of a bullish engulfing candlestick pattern, the aforementioned BUY examples were legitimate.

SELL setup: wait for the indicator to show dotted lines and an arrow, then, if price action confirms it, enter a SELL/SHORT position. Following the creation of a bearish pin bar, the SELL scenario mentioned above was still valid.

Maintain a reasonable take-profit and stop-loss ratio; a 1:2–3 risk to reward ratio is attainable. When a trade begins to go your way, you can also monitor your profit.

Conclusion

Because it doesn’t repaint, the Kolier SuperTrend indicator for MT5 produces fewer settings but has a higher chance of winning. Better trading settings are provided by the indicator since it is less likely than other redraw indicators to produce a large number of false signals. Additionally, it is available for free download.