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I have a free supertrend EA for mt4 with 2 TP levels, trailing stop and indicator adjustment levels.
Problems with this EA are
1. It opens orders when price crosses supertrend line, however it does not wait for the bar to close outside supertrend line.
2. The trailing stop moves along supertrend line and is hit frequently when price momentarily crosses the supertrend line. TS should be offset with supertrend line and new order should be opened only when bar closes outside supertrend line.
3. additional filter such as MACD BB would be helpful to filter out bad signals.
Attaching the indicator and EA.
The strategy is similar to some popular commercial systems for NT.
Would like to know if somebody can modify it as per the requirements.
Hi IndianTrader
Just come across your request to have your indicator modified
Did anybody come to your aid ?
Hope so, ,as I would like very much to have a copy of his ,
Would you share it ?
regards , Manfred
""""Modify Supertrend strategy in mt4
I have a free supertrend EA for mt4 with 2 TP levels, trailing stop and indicator adjustment levels.
Problems with this EA are
1. It opens orders when price crosses supertrend line, however it does not wait for the bar to close outside supertrend line.
2. The trailing stop moves along supertrend line and is hit frequently when price momentarily crosses the supertrend line. TS should be offset with supertrend line and new order should be opened only when bar closes outside supertrend line.
3. additional filter such as MACD BB would be helpful to filter out bad signals.
Attaching the indicator and EA.
The strategy is similar to some popular commercial systems for NT.
