Super Trend is a useful technical analysis algorithm for identifying the possible trend direction and possible trading position. It works with the help of volatility in price movement.
Two parameters, period and multiplier, are used when calculating this technical analysis algorithm. Usually the period value is 10 and the multiplier value is 3. Super Trend; It is found by subtracting the result obtained by multiplying the 10-period ATR (Average True Range) value by 3 from the average of the highest and lowest price in the period. (ATR is a volatility indicator that is calculated based on candle lengths and the previous close.)
Super Trend = HL/2 - 3 x ATR(10)
The Coinlegs software developed this signal with the help of the "SuperTrend" indicator created by Kıvanç Özbilgiç in the Tradingview system.
If the green Super Trend line is below the price action, it is considered a buy signal for traders. In other words, it is thought that the prices will increase when the green "Buy" is seen and investors take positions accordingly.
If the red Super Trend line is above the price action, it is considered a sell signal for traders. In other words, it is thought that the prices will decrease by seeing the red "Sell" and investors take positions accordingly.
In order to easily obtain Super Trend detections, you can create Alerts or Custom Signals through the Coinlegs system, and start autotrading bots on LegsBot by using the alerts you create.