Can Your NinjaTrader Super Trend Do This?
By far one of the most popular indicators is the NinjaTrader Super Trend. It is extremely popular due to it’s ease of use and how clearly trends can be defined, which works as a great stand alone system, or a filter / add-on for any trader’s system. At The Indicator Club, we thought it was about time that the Super Trend was upgraded! We developed the Super Trend MA in an attempt to give traders greater control over this great indicator.
The Framework that we develop all of our indicators on provides these BIG upgrades to an already great indicator:
- Multi-time frame (MTF) is a standard and is as easy as changing the MTF option from False to True.
- The trader can select any of our Moving Averages to use with the Super Trend.
Most Basic: Single Super Trend
Below are images of the most basic view of the Super Trend, which is just one Super Trend applied to a CL 10 range chart (our favorite day trading chart for the CL). The difference in the images below, as compared to the normal Super Trend indicator, is that we are using a Super Trend with a HoltEMA. As you can see in the pictures, the direction of the market is very clear, but we can do better.
Double Super Trend / MTF Super Trend
To build upon the clear trend in the above pictures, we can add an additional Super Trend, but this time, it will be based on a 20 range chart. In the images below, the thickest line on the charts is the MTF Super Trend based on a HoltEMA. The dotted line and bar colors are based on the Super Trend in the pictures above. Looking at the pictures are you able to easily spot where the trend is?
Advanced: Entry Types
There are four common ways that we have seen traders attempt to trade the Super Trend. Each of the below concepts are also presented in the corresponding image:
- Setup Example #1: The first step in this setup is to define the trend based on the MTF Super Trend. Once the trend is found (red = down trend, green = up trend), for this example we will assume the trend is down, then a trader would wait for the Non-MTF Super Trend to be the opposite color of the MTF Super Trend (so wait for green). Once the Non-MTF Super Trend is green, a pending sell order could be placed on the green plot (and the exact opposite for when the MTF Super Trend is in an up trend).
- Setup Example #2: This setup builds on Setup #1, but let’s assume the trader did not place a pending sell order on the green plot, but instead, after price closed below the green plot and the Non-MTF Super Trend turned red, the trader did the following. The trader waited for price to move X ticks from where the Non-MTF Super Trend changed color and then placed a pending sell order at the last value the Non-MTF Super Trend was before it turned green (see picture for clarification).
- Setup Example #3: This setup does not build on either of the two prior setups. The first step in this setup is to wait for both Super Trend’s to be in the same direction / color (for our example we will assume red / down trend). After that, a pending sell order could be placed on the Non-MTF Super Trend. For more aggressive traders, if the trade does not immediately move in your direction, we have also seen people add to their position by drawing a fib between the last values where both Super Trend’s were red and then placing sell orders at one, or multiple levels (see picture for more clarification).
- Setup Example #4: The final setup is extremely simple and has the potential for the greatest number of ticks. To enter a position, the rule is very simple: wait for the MTF Super Trend to change direction and then enter the direction of the trend (in the image, the trend changed from up (green) to down (red), so we will assume the position is short). For more aggressive traders / swing traders, positions could be added to the open short position based on any combination of setups #1 – #3.