Based on source
https://www.prorealcode.com/prorealtime ... onent-atr/
This simplified supertrend can give better results in certain cases, for example in long-term charts, when prices show highly different values falling in a very broad range.
The indicator behaves more like a traditional trailing stop, because volatility is not considered. The risk of curve-fitting and over-optimization is reduced, because only one adaptable parameter (“factor”) is used.
Simplified supertrend.lua- (7.66 KiB) Downloaded 125 times
