SuperTrend Plus Indicator for MetaTrader 4 – Free Download [TradingFinder]

The SuperTrend Plus indicator is a trend-based analysis tool that filters out market noise by incorporating dynamic mechanisms to identify support and resistance levels and identify entry and exit points.

The indicator works without lag and simultaneously adjusts its position relative to the price as the trend changes.

SuperTrend Plus indicator table

SuperTrend Plus indicators are shown in the table below.

SuperTrend Plus Indicator Overview

The SuperTrend Plus indicator operates based on dynamic price ranges, by analyzing market volatility (usually using ATR – Average True Range), drawing dynamic support and resistance channels as shown below:

• Blue Line : Indicates the beginning or continuation of an upward trend; dynamically drawn below the candle;
• Red Line: Indicates the beginning or continuation of a downtrend; in this case, the line is drawn above the candle.

Note : A change in color of a line is an important signal of a trend reversal or correction.

Indicators are in an upward trend

The price chart below shows the Global Gold Index (XAU/USD) on a 1-minute time frame.

When the green line of SuperTrend Plus appears below the candle, the market structure shifts to a bullish phase. The formation of a high volume candle with a short lower shadow around this level indicates increased buying pressure and suggests a potential entry area for long positions.

Indicators are in a downward trend

The chart below shows the Nasdaq 100 (NAS100) Index on a 1-minute time frame.

When the indicator's red line appears above the candle, it signals the beginning or continuation of the bearish phase. The formation of a strong bearish candle with a long upper shadow confirms selling pressure and creates conditions for short trades.

SuperTrend Plus Settings

The image below shows the SuperTrend Plus settings panel:

• PERIOD : Number of candles in a time period
• MULTIPLIER : Adjust the amplification factor of the band pitch
• ALERT : Enable trend change alerts
• EMAIL: Send alerts via email
• NOTIFICATION : Send push notification
• MESSAGE TIMEOUT : Delay time between sending alert messages
• MESSAGE SUBJECT : The subject line of the alert message

Conclusion

The SuperTrend Plus indicator is a powerful market trend analysis trading tool that provides accurate entry and exit points by displaying dynamic support and resistance levels, with bullish settings as the green line below the price

Bearish setup of red line above the candle.