How do you use Supertrend in Upstox?
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How do you use Supertrend in Upstox?
Today we are going to study a simple and famous indicator – Supertrend. As the name suggests this is based on trends. Look at the image given below. You will see a green line below the candles, rising up with it.
How do I use the intraday Supertrend indicator?
How to Use Supertrend Indicator?
- Open the chart of a particular stock you want to trade.
- Fix the time interval of 10 minutes for the intraday trading.
- Insert the supertrend as your indicator.
- Now start tracking when the signals are in your favor.
- You can also follow the arrows for the signals to buy and sell the stocks.
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What does Supertrend indicator mean?
A ‘Supertrend’ indicator is one, which can give you precise buy or sell signal in a trending market. As the name suggests, ‘Supertrend’ is a trend-following indicator just like moving averages and MACD (moving average convergence divergence). It is plotted on prices and their placement indicates the current trend.
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What is the Super trend indicator?
The super trend is similar to moving averages as it follows moving averages. The best part about using this indicator is that it can be used on several time frames at a time. You can place it on a more oversized time frame and then choose to move down to the lower timeframe and use the same as signals for entry and exit.
Even the Zerodha Kite trailing stop loss indicator is better than other broker’s SuperTrend due to its clear differentiation of buy-sell line colors and unique trading arrows. The buy/sell arrow is not available in other broker platforms like Sharekhan TradeTiger OR Angel Speed Pro.
What happens when you reduce the supertrend parameters?
Generally, as in other indicators, as you reduce the Supertrend parameters, the buy and sell signals increase and also the whipsaws due to them increase. The default parameters for Supertrend are 10,3.
How to use multiple supertrends at a time?
You can use a single supertrend or multiple SuperTrend at a time. Here, to make the concept clear, we have listed some screenshot below: In order to change the settings, you have to go to the studies section, then click on the Supertrend indicator, you will get a small window like this.