Supertrend Entries Filtered by Six-Timeframe EMA Agreement
Summary
This strategy uses a Supertrend direction change as its base entry trigger, then optionally requires agreement from a configurable set of six timeframes. Each timeframe is classified as bullish or bearish by comparing its close with an EMA; user-set minimum counts determine whether the signal can pass. Session selection and long-only or short-only settings provide additional entry filters.
The script plots projected stop and take-profit levels using the distance between the entry price and the Supertrend value, with configurable reward multiples. It also displays factor and timeframe tables, signal markers, and entry or order-fill alerts. These levels are visual aids in the shown logic: the strategy does not submit corresponding exit orders, so the script itself does not enforce those targets or stops. The source provides no backtest results or evidence of profitability, and its alert and sizing fields do not establish a validated execution or risk model.
Key ideas
- A Supertrend direction change creates the initial long or short signal.
- Six timeframe trends are defined by whether each timeframe's close is above or below its EMA.
- A configurable minimum bullish or bearish count can filter entries, alongside session and direction settings.
- Displayed stop and target lines use the distance from the entry to Supertrend and selected reward multiples.
- The plotted exit levels are not submitted as exit orders, and the document supplies no performance evidence.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.