Supertrend Indicator Guide for MT4/MT5
Supertrend Indicator FAQ
What is the super trend indicator ?
I will start by defining the Supertrend indicator. A Supertrend is a trend-following indicator, similar to moving averages, that identifies the direction of the trend and provides precise buy or sell signals. The indicator is represented by two colors, red and green (which can be customized). A red Supertrend line indicates a downtrend and a sell signal, while a green Supertrend line indicates an uptrend and a buy signal.Indicator Setting
The Supertrend indicator, used in the MetaTrader trading platform, comprises two fundamental parameters: period and multiplier. These parameters have default values: 10 (days) for the average true range or trading period and 3 for the multiplier. You can customize these parameters to suit your trading style and market conditions.
.Indicator formula
Calculation of the supertrend indicator MT4 is as follows:- step 1: Calculate the basic upper band
- Step 2: Calculate the basis lower band
- {(prior average range * 13) + current range} / 14

How to trade with it ?
The super trend indicator MT4 strategy displays two trends:- uptrends
- downtrends
Example
- Set stop loss: If you are taking a long position, you can place a stop-loss order below the green line. When prices drop below and exceed the red line, it indicates a potential reversal to a short position. In such cases, you can place a stop-loss order below the red line. Effectively utilizing the Supertrend indicator in conjunction with stop-loss orders is a valuable strategy for enhancing your trading success.
- Support and resistance: The Supertrend indicator provides traders with valuable support levels during uptrends and resistance levels during downtrends. These levels serve as crucial reference points for identifying potential entry and exit points for trades.
Download Supertrend indicator for MT4
The Supertrend indicator for MT4 is a user-friendly tool that helps investors gain a deeper understanding of the Forex market by clearly displaying buy and sell signals on the MetaTrader 4 chart.
This image, taken from MetaTrader 4, illustrates the various buy and sell signals generated by the Supertrend indicator MT4. My annotations are highlighted in white. You can download the Super Trend Indicator for Metatrader 4 through the Finansya APP.

Download Supertrend indicator for MT5
The Supertrend indicator for MT5 is depicted in the following MetaTrader 5 chart. It consists of two lines: a green line representing an uptrend and a red line representing a downtrend. These lines provide clear visual cues for identifying buy and sell signals.
You can download Super Trend Indicator for Metatrader 5 through the Finansya APP.

Advantages and disadvantages of this indicator
Advantages
- Highly user-friendly and straightforward to understand.
- Freely available on various trading platforms.
- Empowers intraday traders to make quick decisions.
- Generates accurate forex signals.
- Excels in identifying trends within the forex and cryptocurrency markets.
Disadvantages
- The Supertrend Indicator can provide misleading signals during periods of consolidation or “trading ranges”.
- Not suitable for all trading scenarios.
- May struggle in volatile markets. Therefore, traders should first identify the prevailing trend before employing this indicator.
- Prone to delays in trend reversals, making it challenging to capture extreme market movements. Consequently, it’s recommended to combine it with other indicators, such as the primary trend or RSI, for a more comprehensive analysis.
Conclusion
The supertrend indicator which can be utilized in Tradingview is one of the most important tools that every Forex and crypto trader should know to improve their results and gain wealth. But is more important to know how to use it to be useful when combine with he the Traders Dynamic Index.Key takeaways
- Supertrend indicator MT4 is very helpful to intraday traders, and they can use it also in the Tradingview platform.
- A very easy tool but effective.
- shows the direction of the trend and provides precise buy and sell signals.
- This Metatrader indicator can act as a stop loss trailing and offers support and resistance.
- It is preferable to use supertrend indicator MT5 with the conjunction of other indicators to give you the right result.