Super trend forex
A purely trend-following indicator, it displays the current and historical trend direction on a chart in the form of graphic lines that change color depending on the rise or fall of the currency pair's price.
It has questionable usefulness; its main purpose is to analyze the trend movement over a selected time period.
At first glance, it is not entirely clear what this tool is for; it seems that it simply repeats the price movement and creates a beautiful picture.
The price direction changes depending on the time frame change, so this indicator can be used as an auxiliary tool when trading using trend strategies.
The advantage of the super trend is its simplicity; it clearly highlights reversal points on the currency pair chart, which makes it possible to analyze the reasons for the change in trend.
Suitable for absolutely any currency pair and can be set simultaneously on all time frames, after which you can compare the direction of movement depending on the time interval.
After installation, a line following the trend curve will appear on your chart. It turns green during an upward movement and red during a downward movement. You can change the line color in the settings if desired. You can view additional settings by downloading the program file.
Please note that sometimes the indicator does not take into account short-term price changes, so it is advisable to use it on timeframes no shorter than M15.
In my opinion, this tool requires some refinement and can only be used for trend history analysis. Initially, you need to get used to the fact that its line deviates in the opposite direction from the price movement and sometimes simply does not react to past changes. In no case can it serve as a source of signals for new transactions.
Using the Super Trend Forex indicator to generate signals for opening new trades is rather questionable, as the tool simply analyzes the trend rather than attempting to predict it.
