The SuperTrend Indicator is a great way to identify the current market trend. The indicator shows a clear distinction between uptrends and downtrends. When the indicator is flat and flipping from above to below it shows that there is no trend at the present time.
YouTube Video – How to Calculate the SuperTrend Indicator in Excel
If you are interested in calculating the SuperTrend I have recorded a video showing how it can be done in Excel.
Upper Band Basic O24 =((D24+E24)/2)+($O$3*N24)
Lower Band Basic P24=((D24+E24)/2)-($P$3*N24)
Upper Band Q24 =IF(OR(O24<Q23,F23>Q23),O24,Q23)
Lower Band R24 =IF(OR(P24>R23,F23<R23),P24,R23)
SuperTrend S24 =IF(AND(S23=Q23,F24<=Q24),Q24,IF(AND(S23=Q23,F24>=Q24),R24,IF(AND(S23=R23,F24>=R24),R24,IF(AND(S23=R23,F24<=R24),Q24,”"))))
How to Backtest a Trading Strategy in Excel
If you are interested in programming indicators and using them to backtest your own trading strategies, check out my Ebook course on Backtesting Your Own Trading Systems. The course is available though the Amazon Kindle Bookstore.