Thread: Super Trend - Vertex FX Indicator

Super Trend is a powerful VertexFX client side VTL indicator using trend-following techniques. It provides excellent entries and exits in trending and cyclical markets. It is based on the Commodity Channel Index (CCI) indicator and hence is useful in detecting trending markets.
The indicator trails the price - in other words when the price is rising the indicator value is just below the price. On the contrary when the price is falling, the indicator value is just above the price - tracking it closely.
In the first step we calculate the CCI based on the CCI_PERIOD number of bars. The CCI can detect powerful trending markets, especially when the trend has just started.
When the CCI is above 0, it indicates a BUY signal, whereas when the CCI is below 0, it indicates a SELL signal.
When the CCI is above 0, the indicator value is GREEN and is equal to the low of the candle.
When the CCI is below 0, the indicator value is RED and is equal to the high of the candle.
BUY - Enter BUY position at close of candle when indicator color is green. Do no open position if candle has gap-up opening. Stop can be place at the nearest swing low during a BUY position.
SELL - Enter SELL position at close of candle when indicator color is red. Do not open position if candle has gap-down opening. Stop can be placed at the nearest swing high during a SELL position.