Supertrend Entries with Multi-Timeframe EMA Confirmation
Summary
This script excerpt describes a trend-following strategy built around Supertrend direction changes. A change to the bullish state can trigger a buy signal, and a change to the bearish state can trigger a sell signal. The script optionally requires confirmation from a majority of selected timeframes: each timeframe is classified by whether its close is above or below an exponential moving average. Users can set the minimum count of bullish or bearish timeframes needed.
Additional controls include long-only or short-only trading, session restrictions, and configurable risk-reward targets. The excerpt also declares indicators such as RSI, MACD, ATR, and VWAP, but does not show how all of them are used. The source is cut off during the sell-entry logic, so exits and complete trade management cannot be evaluated. No backtest results are provided; the presence of multiple filters and configurable settings does not establish that the strategy is profitable or robust.
Key ideas
- Supertrend direction changes provide the excerpt's basic buy and sell signals.
- An optional filter counts bullish or bearish conditions across selected timeframes using EMA comparisons.
- Users can restrict direction and trading sessions, and configure risk-reward targets.
- Several declared indicators have no visible role in the excerpted logic.
- The incomplete source and absence of performance results prevent a full strategy assessment.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.