The SuperTrend Oscillator Indicator for MetaTrader 4 and MetaTrader 5 is a powerful technical analysis tool that enhances the classic SuperTrend indicator. Unlike the standard SuperTrend, this oscillator approach allows traders to measure market momentum, detect retracements, and assess the reliability of SuperTrend signals in real time.
Key Features of SuperTrend Oscillator Indicator
This indicator consists of three key components derived from the original SuperTrend:
- Primary Oscillator – Shows the main trend direction relative to the SuperTrend line.
- Smoothed Signal Line – An exponentially weighted moving average of the oscillator that reduces noise while maintaining responsiveness.
- Histogram – Reflects the divergence between the main oscillator and signal line, helping traders identify potential trend strength or weakness.
The oscillator ranges from -100 to 100. Values near extremes indicate a strong trend, while readings around zero suggest consolidation or retracement phases. A reading above zero implies the price is above the SuperTrend line, whereas below zero indicates the opposite.
Technical Functionality
The SuperTrend Oscillator calculates its output by measuring the relative distance between price and the SuperTrend line, normalized through a max-min approach. Extreme values are clipped to maintain stability during volatile market conditions.
The adaptive smoothing applied to the signal line ensures that strong trends remain responsive while minimizing noise in quiet markets. Historical signals are evaluated as valid or false, allowing traders to review past performance directly on the chart.
Download a Collection of Indicators, Courses, and EA for FREE
Usage and Application
Traders can use the SuperTrend Oscillator on any Forex pair, stocks, commodities, metals, oil, or cryptocurrencies. It works on all timeframes, from 1-minute to monthly charts. The indicator functions similarly to the MACD, with a main line, signal line, and histogram, making it suitable for analyzing trend strength, retracements, and potential reversals.
The histogram is especially useful to spot divergence between price and indicator behavior. If the histogram and main oscillator move in opposite directions, this may signal that a crossover is potentially invalid. Additionally, checkmark or cross symbols on the chart mark whether historical SuperTrend signals were valid.
Customization Options
The indicator provides flexible settings to match different trading strategies:
- Length – Period for the Average True Range (ATR), central to SuperTrend calculations.
- Multiplier (Mult) – Adjusts ATR sensitivity for detecting trend changes.
- Smooth – Controls histogram smoothing for clarity.
- Fixed Transparency – Adjusts chart visibility.
- Show Lines and Labels – Enables or disables visual markers.
These settings help traders tailor the indicator to specific market conditions and personal trading preferences.
The SuperTrend Oscillator Indicator is available for free download for both MT4 and MT5 platforms via ForexCracked.com. Traders are encouraged to practice on demo accounts to fully understand its functionality before live trading.
Conclusion
The SuperTrend Oscillator Indicator is a robust tool for traders seeking more nuanced insights from the classic SuperTrend. While it provides valuable trend, retracement, and historical validation signals, it should be integrated into a broader trading strategy for optimal results. This indicator does not guarantee profits but supports structured decision-making and risk management.
FAQ:
Q1: Can I use the SuperTrend Oscillator on any asset?
A1: Yes, it works on Forex, stocks, commodities, metals, oil, and cryptocurrencies across all timeframes.
Q2: Is the SuperTrend Oscillator suitable for beginners?
A2: Yes, beginners can use it, but demo practice is recommended to understand its signals before trading live.
Q3: Does it provide guaranteed buy/sell signals?
A3: No, it provides data and trend signals to aid decision-making; it does not guarantee profits.
Q4: Can the indicator be customized?
A4: Yes, users can adjust ATR length, multiplier, histogram smoothing, transparency, and visual aids to fit their strategy.
Q5: Is this indicator free for MT4 and MT5?
A5: Yes, the SuperTrend Oscillator Indicator is available for free download for both MT4 and MT5 platforms.
