Core Formula

• Upper Band = Source Price + (Multiplier × ATR)
• Lower Band = Source Price - (Multiplier × ATR)
• In uptrend: SuperTrend = Lower Band (green)
• In downtrend: SuperTrend = Upper Band (red)

Usage

• Green line indicates uptrend (potential buying opportunities)
• Red line indicates downtrend (potential selling opportunities)
• Can be used for trend following strategies or identifying reversals
• Works well as a trailing stop mechanism

Installation

1. Copy the file to your MetaTrader 5 indicators folder (typically located at Terminal_Directory\MQL5\Indicators\ )
2. Restart MetaTrader 5 or refresh the Navigator panel
3. Drag the indicator onto any chart

Parameters

• ATRPeriod: Period for ATR calculation (default: 22)
• Multiplier: ATR multiplier to adjust sensitivity (default: 3.0)
• SourcePrice: Price type used for calculations
• TakeWicksIntoAccount: Whether to include price wicks in calculations