The intra-bar feature allows you to separate the trend change from the indicator settings COBC= true/false
With the setting Reverse intra-bar = true, the indicator will trigger a reversal intra-bar, if the stop line is broken, even if the indicator is set to CalculateOnBarClose = true.
With the setting Reverse intra-bar = false, the indicator will not trigger a reversal, unless a bar closes beyond the stop line, even if it is set to CalculateOnBarClose = false.
Strategies based on this indicator can be backtested for an intra-bar reversal.
Due to the way the indicator it is possible to backtest a strategy in COBC = true for intra-bar reversals. The only limitation is increased slippage on the backtest. Most of the slippage can be eliminated by adding a secondary 1-tick bar series.
-> It does not use a moving average, but a moving median which is staticstically more robust.
-> It allows to switch the trend intra-bar or at the bar close.
-> It takes the value of the median and the average true range one bar ago.
The reason is that the average true range is skewed to the downside (false) when calculated from the current bar which is not yet complete.
-> Is based on the anaSuperTrendM11
-> It allows to replace the Median with 28 different moving averages
-> The average true range can be replaced with any of 28 moving averages of the true range, simple range or with the standard deviation
That way you can build thousands of different versions of the SuperTrend.
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I recently loaded anaSuperTrendM11 onto a TF 750 tick chart as recommended by a friend. Are there any specific entry/exit rules that have been developed? Can this be a standalone method or should it be used as a supportive one to others?
(1) You can use it to generate entry and exit signals. However, this will only work, if you use additional filters, as the SuperTrend only performs well in trending markets. Typical filters that can be used are chop and time filters to avoid sideways markets.
(2) Alternatively you can set up the SuperTrend on a longer timeframe and use it as a trend filter, but use other indicators for entry timing.
I personally prefer to use the SuperTrend as trend filter, and not for entry timing.
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