The point here is that automated strategies do not always work. If any strategies are sold by a vendor, you cannot be sure whether they work or not. It is difficult to buy money.
I have coded a simple SuperTrend strategy myself, but it only makes money in trending markets and gives back that money in a sideways market. This means that it is likely that a SuperTrend strategy is only profitable when used with an appropriate trend filter.
You can also use the SuperTrend as a stop strategy (exits only) and combine it with other indicators that give you better entry signals.
The following 3 users say Thank You to Fat Tails for this post:
I am not looking to use the supertrend strategy as the be all and end all of strategies to make profit. Perhaps I wasn't clear enough in the beginning.
I have a specific reversal trade setup that is based reading price action, volume profiling, order flow and cumulative delta. It's a late morning session trade that allows me here in Australia to walk away from the PC, have dinner and trail my stop until a hard target has been reached, or the atr based stop has been hit. Simple as that, the trade only comes about on a clean reversal that essentially sets up a short term mean reversion trend back up to the IB high or previous HVN, VPOC.
I will need to test it a fair amount to gauge what period/multiplier I will need.
It would be really awesome if you could kindly post the strategy to the indicator/strategy section of the forum?