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The Kolier Supertrend Indicator is a technical analysis tool on the MetaTrader 5 platform that uses the ATR (Average True Range) indicator.
This MetaTrader 5 trading Assist identifies market trends more accurately and detects potential reversal points; in an upward trend, the line is displayed in green, and in a downward trend, the line is shown in red.
Kolier Supertrend Specifications Table
The table below briefly and technically reviews the general features of the Kolier Supertrend Indicator:
| Category | Trading Assist – Levels and Zones – Currency Strength |
| Platform | MetaTrader 5 |
| Skill Level | Intermediate |
| Indicator Type | Continuation – Reversal |
| Timeframe | Multi Timeframe |
| Trading Style | Day Trading |
| Trading Market | All Markets |
Uptrend Conditions
Based on the one-hour chart of the EUR/USD currency pair (Euro/US Dollar), when the price crosses the indicator line and the color of the Kolier Supertrend Indicator line changes to green, a suitable range for entering buy (Buy) trades are formed.
Downtrend Conditions
Based on the price chart of XAUUSD (Gold) in the 30-minute time frame, the price breaking the indicator line and its color changing to red can be considered a suitable signal for entering sell trades.
This change indicates increased selling pressure and the likelihood of the downward trend continuing.
Indicator Settings
The settings panel of the Kolier Supertrend Indicator in the MetaTrader 5 platform is shown in the image below:
- ATR Period: Calculation length
- ATR Multiplier: Scaling factor
- Lookback: Review range
Conclusion
In the Kolier Supertrend Indicator for MetaTrader 5, adjusting the ATR multiplier controls the accuracy of trend detection and allows customization based on thetrading strategy.
The color change of the indicator line also visually specifies the entry and exit ranges.
Does the Kolier Supertrend Indicator provide entry and exit signals?
No, this trading tool provides entry and exit ranges and trend changes based on the color change of the indicator line.
Is this indicator usable in all financial markets?
Yes, this indicator applies to all financial markets, including Forex, cryptocurrencies, stocks, and commodities.