Thread: MTEI SuperTrend – VertexFX Indicator

The MTEI SuperTrend indicator is a powerful trend based indicator that provides excellent trend following direction. It is based on the Commodity Channel Index (CCI) and Average True Range (ATR).
We first calculate the CCI over the recent 50 candles. If the CCI crosses above 0, then the it is considered an uptrend, whereas when it crosses below 0 it is consider as downtrend.
The SuperTrend line is calculated by subtracting the 5 candle ATR from the current Low for an uptrend, and by adding a 5 candle ATR from the current High for a downtrend.

BUY - Enter BUY trade when indicator turns GREEN. Avoid entering trade if candle gaps above the GREEN indicator value.
SELL - Enter SELL trade when indicator turns RED. Avoid entering trade if candle gaps below the RED indicator value.