Crypto Academy Course 5: All About SuperTrend Indicator – by @stream4u

Hi everyone, welcome to this week’s course 5. In this homework post, I will be solving this week’s task that involves writing about SuperTrend Indicator and also giving my opinion and knowledge about SuperTrend Indicator and what is is all about. I have to say, this week 5 course by the Steemit crypto professor @stream4u was a very interesting topic as far as trading is concerned in cryptocurrency – we all know the importance of having good and sound knowledge especially when venturing into trading of cryptocurrency assets, so in my opinion, this was a very important topic to introduce in the crypto academy. Based on the main tasks for this post, I will be discussing about superTrend indicator and some of the key elements associated with superTrend indicator.

What Is a SuperTrend Indicator?

Supertrend indicators is one of those helpful trading tools that are used by traders to capitalize on trends. Supertrend indicators is basically a trading tool that follows trends in the market and overlays it on the chart. It show traders what direction the trend is following and overlays the indicators that shows buy and sell signals.

SuperTrend Indicator

Show how to set SuperTrend on Chart and what are its settings need to configure

1. Visit the trading view website ==> https://www.tradingview.com and setup your account

1. Enter the chart and look for indicators tab… on desktop, it is located at the top

1. A search box would come up
2. Type in “supertrend” in the search box
3. A list of different supertrend indicators would come up, pick one – pick KivancOzbilgic which is the first supertrend indicator

1. The supertrend indicator overlay is now on the chart.

Settings

When We can place a Buy Trade with the help of SuperTrend Indicator?

To know when to place a buy trade, you have to pay attention to the supertrend indicator because it does a very good job at this. If you look at the supertrend indicator lines, you will see green lines… those are the buy indicators when the price of the cryptocurrency is above the green line indicator.

When we can place exit/square off, sell order with the help of SuperTrend Indicator?

To know when to place a sell order, you have to also pay attention to the supertrend line indicators because it does a very good job indicating this as well. If you look at the supertrend indicator lines, you will see red lines… those are the sell indicators when the price of the cryptocurrency is below the red line indicator.

How false indications look in SuperTrend Indicator?

This is normal for stuff like this as there will always be false indications and that is why it is important to use the supertrend indicator with carefulness to avoid falling for the false indications.

According to your view what Stoploss you will suggest?

A stoploss is a powerful trading feature that helps traders reduce losses. We all know that in trading, sometimes you get the predictions wrong and things starts going down, but with stoploss, you can reduce your losses depending on where you set your stop loss at.

Conclusion

In my opinion, supertrend indicators are very powerful trading tool when used correctly. While sometimes supertrend indicators can bring out false indications, they are actually very good at indicating trends and showing when to buy or sell cryptocurrencies depending on the trend it is following. Overall, supertrend indicators are very useful when used correctly.

Cc:
@steemcurator01
@steemcurator02