Maximize Your Trading Returns with Super Trend and RSI Indicators

Maximize Your Tradingview with Super Trend and RSI Multi Length

Leveraging the right indicators can significantly enhance your success. By having the Super Trend MTF and RSI Multi Length Tradingview indicators, traders can identify optimal entry and exit points in their trades. Here’s how to effectively use these indicators to maximize trading returns.

Setting Up Tradingview Chart

1. Add the Super Trend MTF Indicator

   • Go to the Indicators Tab on TradingView.
   • Search for “Super Trend MTF.”
   • Attach it to the chart.
   • Set the ATR factor to 2.4 and the ATR period to 7.
   • Adjust the style to hide the Super Trend line, showing only the Super Trend HTF.

2. Configure the RSI Multi-Length Indicator

   • Search for “RSI Multi-Length” from Lux Algo.
   • Set the maximum length to 23 and minimum length to 12.
   • Set overbought level at 80 and oversold level at 20 with the source set to close.

Trading Strategy

• Short Positions:

  • When the Super Trend indicator creates a red line, this suggests a high probability of a downward trend. This is an ideal moment to open a short position.

• Closing Short Trades:

  • Monitor the RSI Multi-Length indicator. When it shows a highlighted red volume in the oversold area, it indicates a potential trend reversal. This is a good point to close your short position and consider entering a long position.

• Long Positions:

  • Wait for the Super Trend to shift into a blue line indicating an uptrend. Once this occurs, open a long position.

• Closing Long Trades:

  • Keep an eye on the RSI Multi-Length indicator. If it shows a highlighted overbought area or shifts into a different trendline, this is your signal to close the long position.