Multi-Timeframe Supertrend Entries with ATR Stops and Scaled Targets

Summary

The strategy seeks entries when Supertrend direction agrees on the chart timeframe and a higher timeframe. It also requires price to be on the corresponding side of the lower-timeframe Supertrend line, with a fast and slow simple moving average comparison as an additional directional filter. Signals are evaluated at bar close, and new positions are opened only while flat. The higher timeframe defaults to 60 minutes; the described inputs include Supertrend and ATR settings, moving-average lengths, and three profit targets expressed as multiples of initial risk.

Stops are set using an ATR multiple, and the script offers either fixed quantity or dollar-risk-based sizing. The visible excerpt starts defining three scaled exit targets but ends before the exit-order logic, so the actual scaling and alert behavior cannot be fully assessed. It sets example initial capital, commission, and order-processing settings, but provides no strategy report results or test-market details. Multi-timeframe data handling, parameter sensitivity, transaction costs, and the possibility of trend reversals are practical limitations; the source excerpt is insufficient to establish profitability or complete risk behavior.

Key ideas

• Entries require agreement between higher-timeframe and chart-timeframe Supertrend direction.
• Fast and slow simple moving averages provide an additional directional filter.
• ATR sets the stop distance, and profit targets are specified as multiples of that risk distance.
• Position size can use a fixed quantity or an optional dollar-risk calculation.
• The provided excerpt omits the completed exit logic and reports no performance results.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.