How to Use the Supertrend Indicator?
For using this indicator, you need to open the chart of a particular stock that you want to track and set a time interval of 10 minutes when doing intraday trading.
You can use any good charting software. After opening the chart insert supertrend and keep the settings as 10 and 3.
You can also insert your own settings as well.
However, while you using this indicator, you should not avoid putting your stop loss.
For a long position, you can put stop loss right at the green indicator line. For a short position, you can put it at the red indicator line.
Using supertrend along with a stop loss pattern is the best way for earning the best wealth in trading.
Putting the information above in the formula for ATR, this is how it looks-
TR=Max [(current high –current low), Abs(current high – previous close), Abs(current low – previous close)]
TRi is the true range
n is the number of periods or trading days