Supertrend with Entry, TP1, TP2 & TP3 V.02
Supertrend with Entry, TP1, TP2 & TP3 — How It Works
This indicator helps identify potential trend changes and visualize a trade setup around them. It combines Supertrend, ATR-based risk levels, optional filters, pivot-based levels, and summary dashboards. It is an indicator, not an automated trading strategy: it does not place orders or guarantee that a signal will be profitable.
Signals and trade levels
A BUY signal appears when the Supertrend changes to an uptrend; a SELL signal appears when it changes to a downtrend. You can optionally filter signals using the ADX threshold or the EMA 200 direction filter.
When a signal occurs, the indicator uses that candle’s closing price as the setup entry. It then calculates:
Stop loss (SL): Entry plus or minus the selected ATR-based distance.
TP1, TP2 and TP3: Price targets set at multiples of the stop-loss risk. The defaults are 1R, 2R and 3R, where 1R is the distance from entry to the stop.
The indicator can draw these levels as lines, show exact price labels, shade the potential profit and loss zones, and mark targets when price reaches them. These are visual reference levels, not placed orders.
Optional signal and re-entry features
ADX filter: When enabled, a signal is allowed only if ADX is above the selected Signal ADX threshold. This is separate from the dashboard’s ADX trend-strength threshold.
EMA 200 filter: Allows long signals only above the EMA 200 and short signals only below it.
Trendline/channel breakouts: Uses confirmed pivot points to estimate diagonal support, resistance, and channel boundaries. An enabled breakout signal requires a candle to close across a boundary.
Re-entry after TP3: After TP3 is reached, the indicator can look for a new setup using either a pullback to the Supertrend or a pullback and recross of the selected EMA. The aggressive EMA option uses a touch and close back in the trend direction without waiting for a prior close across the EMA.
Dashboards and statistics
ADX dashboard: Shows ADX, +DI and −DI, the market phase, the Supertrend direction, and whether the dashboard’s trend-strength filter is satisfied.
Multi-timeframe dashboard: Shows a score and Bullish/Bearish/Neutral state for 5-minute, 15-minute, 1-hour, 4-hour and daily timeframes. Scores above 50 lean bullish; scores below 50 lean bearish. Low ADX or a score near 50 is treated as neutral.
Win-rate statistics: Counts a setup as a win once TP1 is reached, or as a loss if the stop is reached first. It also displays signals counted, wins, losses, win rate and a simplified result in R.
Trade history: Lists up to 10 recent outcomes, including direction, outcome, R:R and stop status.
How to read the optional pivot tools
Confirmed swing highs and lows can be used to draw diagonal trendlines, build a parallel channel, or create horizontal support and resistance levels. Nearby horizontal pivots are grouped using the selected ATR tolerance. Pivot points are confirmed only after the selected number of bars to the right has elapsed, so the plotted pivot is identified with a delay.
Important interpretation notes
The BUY/SELL display toggle hides or shows the chart markers; it does not turn off the signal calculations or alert conditions.
If the same candle reaches both the stop and TP1, the statistics check the stop first and count a loss.
The win-rate and R figures are simplified indicator statistics, not a strategy backtest or a record of actual fills. In particular, the displayed R result adds the TP1 multiple when TP1 is reached.
This indicator helps identify potential trend changes and visualize a trade setup around them. It combines Supertrend, ATR-based risk levels, optional filters, pivot-based levels, and summary dashboards. It is an indicator, not an automated trading strategy: it does not place orders or guarantee that a signal will be profitable.
Signals and trade levels
A BUY signal appears when the Supertrend changes to an uptrend; a SELL signal appears when it changes to a downtrend. You can optionally filter signals using the ADX threshold or the EMA 200 direction filter.
When a signal occurs, the indicator uses that candle’s closing price as the setup entry. It then calculates:
Stop loss (SL): Entry plus or minus the selected ATR-based distance.
TP1, TP2 and TP3: Price targets set at multiples of the stop-loss risk. The defaults are 1R, 2R and 3R, where 1R is the distance from entry to the stop.
The indicator can draw these levels as lines, show exact price labels, shade the potential profit and loss zones, and mark targets when price reaches them. These are visual reference levels, not placed orders.
Optional signal and re-entry features
ADX filter: When enabled, a signal is allowed only if ADX is above the selected Signal ADX threshold. This is separate from the dashboard’s ADX trend-strength threshold.
EMA 200 filter: Allows long signals only above the EMA 200 and short signals only below it.
Trendline/channel breakouts: Uses confirmed pivot points to estimate diagonal support, resistance, and channel boundaries. An enabled breakout signal requires a candle to close across a boundary.
Re-entry after TP3: After TP3 is reached, the indicator can look for a new setup using either a pullback to the Supertrend or a pullback and recross of the selected EMA. The aggressive EMA option uses a touch and close back in the trend direction without waiting for a prior close across the EMA.
Dashboards and statistics
ADX dashboard: Shows ADX, +DI and −DI, the market phase, the Supertrend direction, and whether the dashboard’s trend-strength filter is satisfied.
Multi-timeframe dashboard: Shows a score and Bullish/Bearish/Neutral state for 5-minute, 15-minute, 1-hour, 4-hour and daily timeframes. Scores above 50 lean bullish; scores below 50 lean bearish. Low ADX or a score near 50 is treated as neutral.
Win-rate statistics: Counts a setup as a win once TP1 is reached, or as a loss if the stop is reached first. It also displays signals counted, wins, losses, win rate and a simplified result in R.
Trade history: Lists up to 10 recent outcomes, including direction, outcome, R:R and stop status.
How to read the optional pivot tools
Confirmed swing highs and lows can be used to draw diagonal trendlines, build a parallel channel, or create horizontal support and resistance levels. Nearby horizontal pivots are grouped using the selected ATR tolerance. Pivot points are confirmed only after the selected number of bars to the right has elapsed, so the plotted pivot is identified with a delay.
Important interpretation notes
The BUY/SELL display toggle hides or shows the chart markers; it does not turn off the signal calculations or alert conditions.
If the same candle reaches both the stop and TP1, the statistics check the stop first and count a loss.
The win-rate and R figures are simplified indicator statistics, not a strategy backtest or a record of actual fills. In particular, the displayed R result adds the TP1 multiple when TP1 is reached.
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.