SuperTrend Direction-Flip Entries with Contract Sizing and Alerts

Summary

This strategy uses the SuperTrend indicator, calculated with configurable average true range length and multiplier, to identify changes in trend direction. It enters long when the indicator flips bullish and short when it flips bearish, placing orders only on the flip bar rather than repeatedly signaling while the direction persists. The script allows a fixed contract quantity, sets a commission assumption, and prevents pyramiding.

It plots the active SuperTrend line, colors bars by direction, and can display entry labels. An alert condition is included for either signal, with fields intended to support exchange webhook routing. The document describes the script as an initial testing setup and provides no backtest statistics, asset-specific evaluation, stop loss, or profit target. Its usefulness therefore lies in the signal and alert template, while profitability and live execution behavior remain unsubstantiated.

Key ideas

• The strategy takes a long position when SuperTrend changes to bullish and a short position when it changes to bearish.
• Signals occur on direction changes, not on every bar that remains in a trend.
• ATR length, multiplier, and fixed contract quantity are configurable.
• Chart visuals show direction and signal locations, and an alert condition supports webhook workflows.
• The document offers no performance evidence or explicit exit and risk management rules.

Tags

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