SuperTrend and SMA Basket Entries with Profit and Loss Controls

Summary

This strategy uses two SuperTrend lines and a simple moving average to set directional bias. It opens long positions when the fast SuperTrend is above the slow line and price is above the average, and short positions under the inverse conditions. It can add positions up to a configured limit, subject to a time delay between entries.

Open positions are managed as a basket: the script closes all trades at a profit threshold, uses a trailing basket profit level, and closes at a specified open-profit loss limit. Although an input suggests distance-based DCA, that value is unused; additions are driven by the trend filter and delay. The document provides source code and configurable parameters, but no backtest results or evidence of performance. Its TradingView open-profit stop is not the same as a full account-equity calculation, and outcomes depend on instrument, timeframe, sizing, and execution assumptions.

Key ideas

• Fast and slow SuperTrend levels combined with an SMA determine long or short bias.
• The strategy can add positions while the bias remains active, subject to a maximum count and entry delay.
• A basket profit target and trailing profit rule can close all open trades.
• A configured open-profit loss threshold provides an additional basket exit.
• The DCA distance input is unused, and no performance results are supplied.

Tags

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