SuperTrend Plus Indicator for MetaTrader 4 – Free Download [TradingFinder]

The SuperTrend Plus Indicator is a trend-based analytical tool that, by combining dynamic mechanisms for determining support and resistance levels and filtering out market noise, identifies entry and exit points.

This indicator works without lag and adjusts its position relative to price simultaneously with changes in trend.

SuperTrend Plus Indicator Table

The SuperTrend Plus Indicator is presented in the following table.

SuperTrend Plus Indicator Overview

The SuperTrend Plus Indicator operates based on dynamic price ranges and, by analyzing market volatility (commonly using ATR – Average True Range), it draws a dynamic support and resistance channel as follows:

• Blue Line: Indicates the beginning or continuation of an uptrend; dynamically plotted below the candles;
• Red Line: Indicates the beginning or continuation of a downtrend; in this case, the line is drawn above the candles.

Note: A color change in the line is an essential signal for trend reversal or correction.

Indicator in Uptrend

The price chart below shows the global gold index (XAU/USD) on a 1-minute timeframe.

When the green line of the SuperTrend Plus appears below the candles, the market structure shifts into a bullish phase. The formation of high-volume candles with short lower wicks near this level indicates increased buying pressure and suggests a potential entry zone for long positions.

Indicator in Downtrend

The following chart shows the NASDAQ 100 (NAS100) on a 1-minute timeframe.

When the red line of the indicator appears above the candles, it signals the start or continuation of a bearish phase. The formation of strong bearish candles with long upper wicks confirms selling pressure and creates conditions for short trade entries.

SuperTrend Plus Settings

The image below displays the SuperTrend Plus settings panel:

• PERIOD: Number of candles in one time cycle
• MULTIPLIER: Amplification factor for adjusting band distance
• ALERT: Enables alert for trend change
• EMAIL: Sends alert via email
• NOTIFICATION: Sends push notification
• MESSAGE TIMEOUT: Delay time between sending alert messages
• MESSAGE SUBJECT: Subject line of the alert message

Conclusion

The SuperTrend Plus Indicator is a robust market trend analysis trading tool that, by displaying dynamic support and resistance levels, provides accurate entry and exit points, Bullish setups Green line below price

And Bearish setups Red line above candles.