Double ST

This indicator is based on a combination of 2 different SuperTrend, a trend following indicator developed by Oliver Seban.

You can find some implementation in the following pages:

https://www.mql5.com/en/code/8268

https://www.mql5.com/en/code/10851

and others.

Double ST indicator combines 2 different SuperTrends to have the trend direction at a glance.

Simply insert the values for the 2 SuperTrends and you will see a ribbon with 3 different colors:

• red means that price is under both the SuperTrends (downward trend)
• yellow means that price is in between the SuperTrends (no clear trend)
• green means that price is over both the SuperTrends (upward trend)

Parameters (default value in parenthesis):

• Supertrend1 Period: period for SuperTrend #1 (10)
• Supertrend1 Multiplier: multiplier for SuperTrend #1 (1.7)
• Supertrend2 Period: period for SuperTrend #2 (50)
• Supertrend2 Multiplier: multiplier for SuperTrend #2 (3.5)
• Alarm Presence: alarm if last closed bar changes the indicator color (true)