Double Supertrend with ATR- Guide Step by Step.

The Double Supertrend with ATR TradingView Strategy utilizes a proprietary indicator derived from two Supertrend indicators, which are adjusted with specific parameters to minimize market noise and false signals. This strategy is optimized for time frames of 15 minutes or higher and can be applied to various financial instruments including currency pairs, cryptocurrencies, gold, indices, and oil. By fine-tuning the indicator's parameters, traders can enhance signal quality and apply effective filters to refine their trading decisions.

Setup Strategy

Time Frame 15 min or higher

Currency pairs: cryptocurrencies, gold, indices, and oil.

Indicator: Double SuperTrend by Thiago Schmitz download below the article

EUR/GBP H2 default setting.

In the following images I will show you the example report.

Setting Supertrend options

☑ Show Indicators
This option will enable/disable the Supertrend indicators on the chart.
☑ Length
The length will be used on the Supertrend Indicator to calculate its values.
☑ Dev Fast
The fast deviation or factor from one of the super trend indicators.
☑ Dev Slow
The slow deviation or factor from one of the super trend indicators.

☑ Exit Type
It's possible to select from 4 options for the exit signals. Exit signals always take profit targets.

☑ ⥹ Reversals
This option will make the strategy/indicator calculate the exit signals based on the difference between the given period's highest and lowest candle value (see Period on this list).

☑ ⥹ ATR

Using ATR as a base indicator for exit signals will make the strategy/indicator place limit/stop orders. Candle High + ATR for longs, Candle Low - ATR for shorts. The strategy will show the ATR level to take profit and stick with it until the next signal. This way, the take profit value remains based on the candle of the entry signal.

☑ ⥹ Fast Supertrend

With this option selected, the exit signals will be based on the Fast Supertsignal value, mirrored to make a profit.

☑ ⥹ Slow Supertrend
With this option selected, the exit signals will be based on the Slow Supersignal value, which is mirrored to take profit.

HOW TO USE
It's very straightforward. A long signal will appear as a green arrow with a text Long below it. A short signal will appear as a red arrow with a text Short above it. It's ideal to wait for the candle to finish to validate the signal.
The exit signals are optional but give a good idea of the configuration used when backtesting. Each market and timeframe will have its own configuration for the best results. On average, sticking to ATR as an exit signal will have less risk than the other options.
☑ Entry Signals
Follow the arrows with Long/Short texts on them. Wait for the signal candle to close to validate the entry.
☑ Exit Signals
Use them to close your position or to trail stop your orders and maximize profits. Select the exit type suitable for each timeframe and market
☑ Add Entries
It's possible to increase the position following the add margin/contracts based on the Add signals. Not mandatory, but may work as reentries or late entries using the same signal.