Another SuperTrend variant

[SteveH]

I got the code from one of the posts on these forums (forgot which) and customized it to the way I use the SuperTrend on my charts. On other platforms, you can find it as TSSuperTrend, so that's what I named it. The basic difference from others posted is:

1. It uses a Hull moving average
2. The Plot is optional in case you just want to retrieve latest value in the UpTrend/DownTrend
3. The Plot is a non-continuous dashed line above or below price

I left the dn variable usage in place, but commented out, as the original author used this for some _TRACE() debugging.

I have used this for years and it is excellent for finding one of the last good support / resistance areas for a nice bounce. I tend not to use this for detection of trend reversals as it is late for that kind of detection relative to other things I use. But I would also say that if the current SuperTrend S/R doesn't hold up, you most likely have much deeper retracements or all-out trend change on your hands.

A sample call is:

lastST = 0;
inUptrend = 0;

TSSuperTrend(14, 2.618, 1, &lastST, &inUptrend);

And here's the procedure:

procedure TSSuperTrend(lenATR, multiplier, showPlot, lastST, inUptrend)
{
	local i, nATR, _hma, isUptrend, dn;
	local lower, lowerBand, upper, upperBand;
	
	nATR = ATR(lenATR);
	_hma = HMA(Close, 14);
	
	upperBand = _hma + multiplier * nATR;
	lowerBand = _hma - multiplier * nATR;
	isUpTrend = True;
	//dn = DateNum();
	
	for (i=lenATR; i < BarCount; i++)
	{
		if (Close[i] > upperBand[i-1])
			isUpTrend[i] = True;
		else if (Close[i] < lowerBand[i-1])
			isUpTrend[i] = False;
		else
			isUpTrend[i] = isUpTrend[i-1];
			
		if (isUpTrend[i])
			lowerBand[i] = Max(lowerBand[i], lowerBand[i-1]);
		else
			upperBand[i] = Min(upperBand[i], upperBand[i-1]);
			
		//_TRACE(NumToStr(dn[i], 8.0, False)+": Close="+C[i]+" isUpTrend="+isUpTrend[i]+" upperBand="+upperBand[i]+" lowerBand="+lowerBand[i]);
	}	
	
	if (showPlot)
	{
		lower = IIf(isUpTrend, lowerBand, Null);
		upper = IIf(isUpTrend, Null, upperBand);
	
		PlotOHLC(lower, lower, lower, lower, "", colorBlue, styleCandle);
		PlotOHLC(upper, upper, upper, upper, "", colorRed, styleCandle);
	}
	
	if (LastValue(isUpTrend))
	{
		inUptrend = 1;
		lastST = LastValue(lower);
	}
	else
	{
		isUptrend = 0;
		lastST = LastValue(upper);
	} 
}