SpeculatorRegularNov 3
Spaceship:
What other indicators to be used in addition to supertrend to increase the accuracy of charting signals to above 90%.
Accuracy above 90 % ?
Wow If I achieved that I will become billionaire with in a year.
Coming back to your topic. I used Supertrend some days back I achieved success rate in between 45 to 50 % by improving it( My present success rate is only 40 % ).
Improvement I made : I will enter the position not after signal candle close but breaking of signal candle low/high.
By the above improvement I increased 5 to 10 % accuracy of signals.
Can you elaborate a little more on “I will enter the position not after signal candle close, but breaking o signal candle low/high”
Yes it is. and for intraday charts please see duration of 5 mins and 15 mins. and better use strategies with 15 mins and go for short tgt and sl and more quantity.
Couple it with RSI, by doing so you will reduce a number of false signals but at the same time you will lose some true signals as well. (your decisions will confined to RSI values <40 for buy and >60 for sell so reducing some false signals, but at the same time yo will miss out some good reversals/breakouts happening when RSI >= 50 and still price shoot up missing buy opportunity and when RSI <=50 and price falls greatly missing short opportunity.
As per your request, attached a picture, please see the arrow mark showing the present value of Supertrend. How to calculate the trend change from this value?
To answer this question I guess Streak will be a great platform. Before you start betting on supertrend just by watching few good old setups on chart can be hazardous for your trading capital. When I started trading I was in love with Moving averages crossover because on a old chart they used to look beautiful. I saw few answers like supertrend is bullshit. I would say check it, back test it. Any changes in indicator setting back test it.
What I believe is either you find perfect stock for indicator or find a perfect indicator for your stock, They both should be in sync. And you should focus more on R:R ratio( Risk to reward ) than accuracy.
Apologies for the delay in answering!
The value you have pointed to with the yellow arrow is the value of the Supertrend line at that moment in time. The red Supertrend line will flip into a green line once price closes above the current red Supertrend line. I am not sure how you would calculate the Trend change from this value. Supertrend is a lagging indicator which does’nt anticipate trend change. Sorry, I am not able to help you much with this, personally I don’t use indicators, I simply follow price action.
You can use super trend for scalping but for very less time, i ususally scalp in nifty and bank nifty i will enter using super trend signal but i look for 7 to 10 pionts some times even leess like 5 points, i will enter with 20 lot and i will combine this with Stochastic momentum index , i use manual stop loss i will exit if market trend reverse ( u know some times options go -50 and recover again) but my overall monthly will be in green, hope it helps you !
Are you referring to Stochastic? If so what settings you use? Can you pl post a chart which you had traded. I am interested only in Positional trading.
Thanks for yr time.
Have you tried with higher time frame like 30 mins or 1 hour . 1 min is too short to achieve accuracy . And Supertrend only works with trending markets .
