Crypto Academy Week 5 Homework Post for (stream4u) - SuperTrend Indicator

Hello Steemit Crypto Academy,

We are approaching towards the end of the week. Today is the last day of the week. I reserved the hardest course to the last day, as always. @stream4u's course topics are one of my challenges. Because I had no knowledge of this subject before. I feel that my knowledge is gradually increasing. As a result of what I learned, I started trading and started to earn a profit. The amount I have traded is small but so far I have made a profit. I learned a lot through him. Thank you very much to him.

P

What Is A SuperTrend Indicator?

In previous course topics, we learned that traders use some indicators to buy and sell. One of these indicators is the SuperTrend Indicator. The SuperTrend Indicator can be used by anyone who has just started trading business. It is very simple to use. As the name suggests, it is a tool that progresses on the price of crypto money and follows the trend. As with other indicators, the SuperTrend indicator does not always give accurate results. Correct signals occur in charts with a trend direction. After examining at least 2-3 different Indicators with the SuperTrend Indicator, it is necessary to place buy or sell orders.

Tradingview BTC / USDT chart

To be able to trade with the SuperTrend Indicator, we find the trading pair of any cryptocurrency before tradingview. (BTC / USDT). There is an area with indicators above. (fx). We click there. We write "SuperTrend" in the search field. We click on the first result.

Tradingview BTC / USDT chart

As you can see in the picture, after making various arrangements, a graph showing the buy-sell regions appeared. You can observe the SuperTrend Indicator in different time periods. We can try it on short term or long term charts. 5-15 minutes for short term, 1 day for long term trading.

Show how to set SuperTrend on Chart and what are its settings need to configure.(Screenshot Needed)

I mentioned a little in the previous question. This time, let me show you a graph of different time periods.

Setting up the supertrend indicator in TradingView.

First, we open the trading pair of the cryptocurrency whose chart we want to see from TradingView. (e.g. EOS / USDT). Then we follow the steps in order as shown in the picture. (1 -> 2 -> 3 -> 4 -> 5).

EOS/USDT chart by TradingView

I set the time frame I want to see as 15 minutes and the graphic in the picture came out against me.

How SuperTrend Shows Buy-Sell Indications? (Screenshot Needed)

The 200 moving averages we learned about in the previous course show a similar trend.
While buying; It is necessary to wait for the price of the cryptocurrency to approach the SuperTrend line. When approaching the line, a purchase order is given. The SuperTrend line has very strong support. Therefore, in a short time, the price of crypto money will rise above the price you bought.

For Buying Chart

TradingView EOS/USDT

I chose a random graphic. I'll show you on this chart. We can find graphics where SuperTrend looks clearer. Where I showed it with 1 and 2, EOS price approached the SuperTrend line and then increased nicely. In fact, the clearest is where I show it with 3. EOS price has crossed the SuperTrend line, a signal has been formed for a buy and EOS price has risen.

For Selling Chart

Tradingview XRP/USDT

The SuperTreng indicator gave a great signal, especially where I showed it with 1. XRP price is very close to the SuperTrend line. There is a signal to sell. There is a signal that we can call it good for selling where I show it with number 2.

When We can place a Buy Trade with the help of SuperTrend Indicator? (Screenshot Needed)

TradingView XRP/USDT

With the SuperTrend Indicator, support and resistance points are thoroughly reviewed before placing a buy order. We look at the latest news about crypto money. Then we open the chart. When the price of the cryptocurrency to buy is close to the SuperTrend Indicator line, we must place a buy order. Where I point it out with 1 and 2, the SuperTrend Indicator gave a great signal for reception.

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

TradingView LINK /USDT chart

Please check the places I marked in the picture. When the crypto money price approached the SuperTrend Indicator line, the decline in the crypto currency price started. That's why we can sell our crypto money when the price of the crypto money we have approaches the SuperTrend Indicator line. Before placing a sell order, we should consider support and resistance points.

How false indications look in SuperTrend Indicator? (Screenshot Needed)

Tradingview Steem/USDT chart

As with other indicators, there is a possibility of showing false in the SuperTrend indicator. This possibility is unlikely. Now I will show you the wrong indicators on the chart.

The sell signal is given at the place I marked. Then, after a very short time, the signal for buying started.

Tradingview BAT/USDT

As you can see in the picture, the sell signal is given incorrectly. The buy signal started to be given right after the sell signal.

According to your view what Stoploss you will suggest?

When using StopLoss we were acting according to the last two (or even 3) supports / resistance. After the last two supports / resistances are found, we set the StopLoss. We have seen the price cross the SuperTrend line when SuperTrend sometimes shows a sell / buy signal. But soon the price will move behind the line. This can be misleading.

Conclusion

As I mentioned before I prepare my homework, I am constantly learning new things. The professor really has high merit in teaching. I think I would have a hard time trying to learn something on my own. While the professor teaches something, he shows us this step by step and we have no difficulty understanding it.

The SuperTrend Indicator looks like a successful indicator. Sometimes it shows the wrong signals, but then the correct signals are given right after. If we do extensive research, we can notice that it is giving the wrong signal. The false signal may have been given as a result of an attempt where a group raised or decreased the price. If we use it together with indicators such as MACD, Bollinger Band, RSI together with the SuperTrend Indicator, we can achieve better results. I searched and learned the Bollinger Band and RSI indicators by chance while researching the previous homework.

Cc:
@steemitblog
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