SuperTrend Based Strategy

SuperTrend is one of my favorite indicator to access where the market will move at Daily level.  

This can be checked in Zerodha. Default settings of Period--7, Mutliplier--3 is ok to use.

The idea is 

• Buy When Price > Supertrend or Suprtrend is Green.
• Sell  When Price < SuperTrend or SuperTrend is Red. 

This can be used at all intervals

• 15 min
• 60 min
• 1 day

Also the indicator can be used with different modes

• 7,3 or 10,3
• 7,2 or 10,2

If the multiplier is large stop loss will be larger.

Below chart shows the indicator on Nifty. It works in similar manner for stocks also.