Supertrend Indicator for thinkorswim

Implementations may use different price bases, Wilder or another ATR smoothing method, distinct initialization, or different comparisons on an equal-value bar. Each choice can move a reversal by one or more bars.

Preserve these choices as inputs or comments, then compare the resulting line and state across a known sample before adding signals.

A color change can mark the indicator's trend-state transition. It does not define position size, entry timing, exits, or risk. Add those only in a separately specified strategy.

Pineify can generate the study and later convert explicit transitions into simulated strategy orders. Test the study first so strategy errors are not confused with indicator errors.

One explicit custom variant centers raw bands at (high + low) / 2, at plus or minus multiplier × Wilder-smoothed ATR. The final upper band takes the new raw upper value if it is lower than the prior final upper, or if the prior close was above that prior upper; otherwise it carries the prior upper. The final lower does the mirror operation: update if the raw lower is higher, or if the prior close was below the prior lower.

Seed both final bands from the first valid raw bands and seed the state as down. In a down state, switch to up only when the completed close is strictly above the current final upper. In an up state, switch down only when it is strictly below the current final lower. Equality retains the state. Plot the final lower in an up state and final upper in a down state. This defines one variant, not an assertion that every script named Supertrend matches it.

For hypothetical prior close 100, current high 105, and low 102, true range is 5 rather than the high-low range of 3. If an already-smoothed ATR is 2, midpoint is 103.5, and multiplier is 3, raw bands are 109.5 and 97.5. Carry-forward rules can make final bands different from those raw values.