Hi people!
I was wondering if anyone has any suggestions on how to confirm a supertrend signal. Sometimes supertrend signal disappears after appearing on the chart. Are there any strategies to confirm the signal? For example today on nifty futures at around 9917 there was a buy supertrend signal only to disappear and fall 70 points from there. If I had entered at 9917 would have lost heavy.
Thanks for all inputs in advance.
Supertrend signal gets confirm only on close of that candle for the given timeframe. For eg if u r watching Hourly timeframe of nifty futures chart and buy signal for supertrend is at say 9920 and cmp has crossed this price say it’s at 9921, u will get the buy signal but u shud not jump to buy till the hourly candle closes abv 9920. Lets say u got d signal at 10:10 wait till d 10:14:59 and if price is still abv 9920 supertrend signal will stay. If its below that then signal will disappear.
Same applies to daily supertrend… But validated at 3:30 at close price basis
Do remember to place buy order only abv high of buy supertrend signal candle or below low of sell supertrend signal candle
Confirm supertrend sell signal on Nifty on breaching 10023 levels and closing below it on hourly timeframe recd on 08-08-2017 at 10:15
Supertrend is a simple indicator, Accuracy of it is not 100%!
For Better understanding:smiley:
