Many of you may use Super-Trend Indicator and It is based on ATR and very effective in catching trends. Just by the nature of the Indicator It tends to be little whipsaw during sideways. And even if we can reduce one or two false signals during this period our P&L looks lot better.
Here is the change you can experiment with: Instead of regular candle, try and use Heikin-Ashi candles on Kite while using super-trend Indicator. By Nature Heikin-Ashi represents the average pace of prices.these candlesticks can be used to identify trending periods, potential reversal points and classic technical analysis patterns.
Let me show you Nifty 50 charts with regular candles and Heikin-Ashi candles. You can further experiment on your own. Watch the number of signals in both the charts.
First chart below is with regular candles.
This second chart is with Heikin-Ashi candles…
Let me know …what do you think?
for those who want to know more about Heikin-Ashi, check below link
for those who want to use Super-trend in Kite. Here is a link to interesting discussion
All the best