The Supertrend indicator was invented by Olivier Seban, a French trader and author, and he introduced the concept in his book "Tous les secrets d'un trader", where he explained how this trend-following indicator could be used to determine market trends and potential reversal points. The Supertrend indicator has since become popular among traders for its simplicity and effectiveness in identifying trend direction and generating buy and sell signals.
- Supertrend (Upper Band)=(High+Low)/2+(Multiplier×ATR)
- Supertrend (Lower Band)=(High+Low)/2−(Multiplier×ATR)
The strategy contains the full source code. It is for educational purposes to help traders with various levels of programming knowledge learn the following skills using Microsoft C# and the cTrader API. This cBot was created by the ClickAlgo Strategy Building Tool in a few minutes with no coding.
How the Supertrend Works?
The Supertrend indicator is plotted on the price chart and changes colour based on the direction of the trend, on a cTrader chart it turns green during an uptrend and red during a downtrend, you will see these as a series of dots above or below the symbol price.
- A Buy trade will open when the Supertrend uptrend (green dot) is below the symbol price and the symbol price is above the Exponential Moving Average line.
- A Sell trade will open when the Supertrend downtrend (red dot) is above the symbol price and the symbol price is below the Exponential Moving Average line.
Risk Management
In addition to the trade signals to open trades automatically, the cBot also uses some basic risk management in the form of the variable position size based on the percentage of the account t balance, this unique feature will automatically increase the position (lot) size as your account balance grows for maximum profits. Also, included is a standard take profit and stop loss option.
You can add risk management features and other trade rules by contacting our development team.
Built Using the Algo Strategy Builder
This cBot was built with no coding required using the cTrader Algorithmic Strategy Builder for the cTrader Platform.
How To View The Source Code
To view the source code for this cBot, you will first need to make sure you have downloaded and installed cTrader Desktop, you can also scroll to the bottom of this page for instructions on how to install the cBot. Once installed you will have the cTrader application open, you need to navigate to the Automate application and click on the name of the cBot, the source should show in the right-hand window.
If you need more help watch a video tutorial on how to use cTrader Automate.
Learn Microsoft C# for Algo Trading
If you are new to coding your cTrader cBot for automated trading the following Microsoft C# course will help you modify the starter kit cBot in this download to add new features for your personal trading strategy.
Algorithmic Trading Facts
Many traders venture into algorithmic trading with the misconception that they have discovered a foolproof strategy that guarantees effortless wealth. However, this notion is far from reality. It is crucial to read this article, as it can save you valuable time and money.
How To Install & Remove
First, make sure you have the cTrader trading platform installed.
Any Questions?
If you have any questions, please first search our coding help forum for the answer, if you cannot find it, post a new question.
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All cBot Code Examples
You can access all of our free cTrader cBot code examples here.
