About:
Supertrend is another indicator of Karl Dittmann, whom we know well from his trading products. Supertrend is a line moving along with the price on the chart. The corresponding line color indicates the current price movement. The red color is a bearish trend (you should open a short position), the blue color is a bullish trend (you should open a long position).
Characteristics of the Supertrend indicator
Platform: Metatrader4
Currency pairs: Major pairs
Trading Time: Any, recommended European and American sessions
Timeframe: M30 and higher
Recommended broker: Alpari, FBS, Darwinex, Forex4you, RoboForex
Supertrend is more suitable for day trading than for scalping. But even at small timeframes, the indicator shows good results. The main disadvantage - flat. Therefore, it is necessary to trade on the major currency pairs in the most volatile trading time - London and New York.
Supertrend is more suitable for day trading than for scalping. But even at small timeframes, the indicator shows good results. The main disadvantage - flat. Therefore, it is necessary to trade on the major currency pairs in the most volatile trading time - London and New York.
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