If you’ve ever wished for a trend indicator that just tells you – clearly and visually – whether to be long or short, the Supertrend indicator is probably what you’re looking for. Originally developed by Olivier Seban, this ATR-based tool draws a single line on your chart that flips between green and red as the trend changes direction. Green means bullish. Red means bearish. No guesswork, no squinting at crossovers.
The catch? Unlike the Moving Average or MACD, the Supertrend is not built into MetaTrader 4. You need to download and install a custom version. The good news is we’ve got a reliable, non-repainting version ready for you below – completely free.
In this review, I’ll cover how the Supertrend works, the best parameter settings for different trading styles, and a specific strategy pairing it with the 200 EMA that I’ve found consistently useful.
What is the Supertrend Indicator?
The Supertrend indicator calculates dynamic support and resistance levels based on the Average True Range (ATR). It takes two inputs: an ATR period (default 10) and a multiplier (default 3.0). The indicator uses these values to calculate upper and lower bands around the price, then displays only the relevant band depending on the current trend direction.
When price closes above the upper band, the indicator flips bullish and the line turns green, trailing below the candles as dynamic support. When price closes below the lower band, it flips bearish and the line turns red, tracking above the candles as dynamic resistance.
Olivier Seban designed the Supertrend to give traders a clear, mechanical way to stay on the right side of the market. The ATR component is what makes it intelligent – rather than using fixed pip distances, it automatically adjusts to the pair’s current volatility. On a volatile day in GBP/JPY, the Supertrend widens. On a quiet session in EUR/CHF, it tightens. This adaptive behavior reduces false signals compared to fixed-distance trailing stops.
The indicator has gained a loyal following among forex and stock traders because of its simplicity. There’s no interpretation required – you either see green or red, and you trade accordingly.
How the Supertrend Indicator Works on MT4
Once installed, the Supertrend appears as a single line weaving through your price chart. During an uptrend, the green line sits below the candles and slopes upward as price advances. It acts as a trailing stop – as long as price stays above the line, the bullish bias holds. The moment a candle closes below the green line, the indicator recalculates and flips to red, now sitting above the candles.
The color change itself is the primary signal. A flip from red to green is a buy signal. A flip from green to red is a sell signal. These flips happen at clearly defined price levels, which makes setting entry orders straightforward.
One thing I appreciate about the Supertrend versus some other trend indicators is how clean the chart stays. You get one line instead of multiple bands, clouds, or histograms. On higher timeframes like H4 and Daily, the signals are surprisingly accurate during strong directional moves. On lower timeframes, you’ll see more frequent flips, which is where adding a trend filter (like the 200 EMA strategy below) becomes essential.
The distance between the Supertrend line and the current price tells you something about trend strength. A wide gap means strong momentum. When the line starts closing in on the candles, the trend is losing steam and a flip may be approaching.
Key Features
- Non-repainting: Once a candle closes, the Supertrend value and color are locked permanently
- ATR-based calculation automatically adapts to current market volatility
- Color-changing line provides instant visual trend direction (green = bullish, red = bearish)
- Works on all timeframes from M1 to Monthly
- Only two parameters to configure (ATR Period and Multiplier), keeping it simple
- Clean single-line display that doesn’t clutter your chart
- Built-in alert functionality for trend flips (popup, email, and push notifications)
Best Settings for Supertrend Indicator
The default settings of Period 10 and Multiplier 3.0 are solid all-rounders, but you can fine-tune them based on your trading style:
| Parameter | Scalping (M1-M15) | Day Trading (M30-H1) | Swing Trading (H4-D1) |
|---|---|---|---|
| ATR Period | 7 | 10 | 14 |
| Multiplier | 2.0 | 3.0 | 3.5 |
| Sensitivity | High (more signals, more noise) | Balanced | Low (fewer signals, higher quality) |
How the multiplier affects signals: A lower multiplier (e.g., 2.0) keeps the Supertrend line closer to price, generating faster flips but more whipsaws. A higher multiplier (e.g., 4.0) pushes the line further away, reducing false signals but creating wider stops and later entries.
How the ATR period affects signals: A shorter ATR period (e.g., 7) makes the indicator more responsive to recent volatility spikes. A longer period (e.g., 14 or 20) smooths out the volatility reading, producing more stable trailing levels.
Recommended starting point: Stick with Period 10 / Multiplier 3.0 on the H1 chart. It’s the setting most traders use, and it strikes a good balance between responsiveness and false signal filtering. Adjust from there based on your backtesting results.
Pros and Cons
| Pros | Cons |
|---|---|
| Crystal-clear visual signals – no interpretation needed | Not built into MT4, requires custom download and installation |
| Adapts to volatility automatically via ATR calculation | Produces whipsaw signals during sideways/ranging markets |
| Works as both a trend filter and a trailing stop level | Lagging by nature – you’ll never catch the exact top or bottom |
| Only two parameters, making optimization straightforward | Can give late entries on explosive moves when multiplier is set high |
How to Install Supertrend Indicator on MT4
Since the Supertrend is not included in MT4’s default indicator library, you’ll need to install it manually. Here’s how:
Step 1: Download the Supertrend .ex4 file from the download section below on this page. Save it somewhere easy to find.
Step 2: Open MetaTrader 4, click File in the top menu bar, then select Open Data Folder. Navigate to MQL4 > Indicators.
Step 3: Copy the downloaded Supertrend .ex4 file into the MQL4/Indicators folder.
Step 4: Go back to MT4 and either restart the terminal or right-click inside the Navigator panel (Ctrl+N to open it) and select Refresh. You should now see “Supertrend” listed under Custom Indicators.
Step 5: Drag the Supertrend indicator from the Navigator panel onto your desired chart. In the settings popup, set the ATR Period to 10 and Multiplier to 3.0 (or your preferred values). Click OK.
The color-changing line should now appear on your chart. If you don’t see it, make sure “Allow DLL imports” is checked in the Common tab of the indicator settings.
For a more detailed walkthrough with screenshots, check our guide on how to install custom indicators on MT4.
Trading Strategy: Supertrend + EMA 200 Filter
The Supertrend on its own will catch trends well, but it gets chopped up during ranging markets. One of the most effective ways to fix this is adding a 200 EMA as a higher-timeframe trend filter. The logic is simple: only take Supertrend signals that agree with the dominant trend.
Setup: Apply the Supertrend (Period 10, Multiplier 3.0) and a 200 EMA to your H1 chart.
Buy Signal:
1. Price is trading above the 200 EMA (confirming the dominant trend is bullish)
2. The Supertrend flips from red to green (line changes color below the candles)
3. Wait for the current candle to close to confirm the flip is real
4. Enter long on the next candle’s open
Sell Signal:
1. Price is trading below the 200 EMA (confirming the dominant trend is bearish)
2. The Supertrend flips from green to red (line changes color above the candles)
3. Wait for the current candle to close to confirm the flip
4. Enter short on the next candle’s open
Stop Loss: Place the stop at the Supertrend line level at the time of entry. As the Supertrend trails in your direction, move the stop to the new Supertrend level to lock in profits.
Take Profit: Target a minimum 1:2 risk-reward ratio. Alternatively, hold the position until the Supertrend flips color against you – effectively using the indicator as a trailing stop.
Why this works: The 200 EMA filter eliminates roughly 40-50% of the losing trades you’d take from Supertrend signals alone. When the Supertrend gives a buy signal but price is below the 200 EMA, you skip it. Those counter-trend trades are the ones most likely to fail. By only trading with the macro trend, you significantly improve your win rate.
Important: Ignore Supertrend signals when price is hovering around the 200 EMA (within 20-30 pips). The market is in no-man’s land at that point, and signals in either direction are unreliable.
Supertrend vs Parabolic SAR
Both the Supertrend and Parabolic SAR are trend-following indicators that plot directly on the price chart, but they differ in meaningful ways:
| Feature | Supertrend | Parabolic SAR |
|---|---|---|
| Calculation | ATR-based (adapts to volatility) | Acceleration factor (speeds up over time) |
| Display | Single color-changing line | Dots above or below price |
| Volatility Adaptation | Yes – ATR adjusts to current conditions | Limited – acceleration factor is time-based |
| False Signals in Ranges | Moderate | High – frequently whipsaws in sideways markets |
| Built into MT4 | No (custom download) | Yes (pre-installed) |
| Trailing Stop Use | Excellent – line provides clear stop level | Good, but accelerates too fast in some cases |
Verdict: The Supertrend produces cleaner signals overall because the ATR-based calculation handles volatility changes better than the Parabolic SAR’s fixed acceleration factor. The SAR tends to flip too quickly during choppy markets, while the Supertrend’s wider, volatility-adjusted bands absorb more noise before triggering a signal. That said, the Parabolic SAR is built into MT4 out of the box, so it wins on convenience. If you’re willing to install a custom indicator, the Supertrend is the stronger choice for trend following.
Frequently Asked Questions
Is the Supertrend indicator free for MT4?
Yes. The Supertrend indicator is available as a free download right here on ForexOBroker. Since it’s not included in MT4 by default, you need to download the .ex4 file and install it manually. The process takes about two minutes.
Does the Supertrend indicator repaint?
No. Our version of the Supertrend does not repaint. Once a candle closes, the Supertrend value and color for that bar are permanently fixed. The line may flicker on the current unclosed candle as price moves, but that’s normal real-time calculation – it locks in when the candle completes.
What are the best Supertrend settings for MT4?
The default settings of ATR Period 10 and Multiplier 3.0 work well across most pairs and timeframes. For faster signals on lower timeframes (M5-M15), reduce to Period 7 / Multiplier 2.0. For swing trading on H4 or Daily charts, increase to Period 14 / Multiplier 3.5 to filter out market noise.
Can I use the Supertrend indicator on MT5?
Yes, but you’ll need an MT5-specific version since .ex4 files are not compatible with MT5. The indicator logic and settings are identical across both platforms – only the file format differs.
What is the difference between Supertrend and Parabolic SAR?
Both plot directly on the price chart and follow trends, but the Supertrend uses ATR for volatility-adaptive calculations while the Parabolic SAR relies on an acceleration factor. In practice, the Supertrend produces fewer false signals during choppy markets because it adjusts its distance from price based on actual volatility rather than a fixed time-based acceleration.
Download Supertrend Indicator for MT4 – Free
Our Supertrend indicator includes features beyond the basic version:
- Color-changing line – green for bullish trend, red for bearish trend
- Alert system – popup, email, and push notifications on every trend flip
- Customizable ATR settings – adjust period and multiplier to match your style
- Multi-pair compatibility – works on forex, gold, indices, and crypto CFDs
Platform: MT4 (Build 1000+)
File type: .ex4
File size: 8 KB
Version: 1.7
Last updated: April 2026
Download the Supertrend Indicator – Free Instant Access
No payment. No catch. Enter your email below and the Supertrend Indicator file lands in your inbox within 60 seconds. Here’s everything you get:
- The non-repainting Supertrend Indicator file (.ex4) – install in 30 seconds
- Step-by-step installation guide with chart screenshots
- Best-performing settings for scalping, day trading, and swing trading
- The exact entry and exit rules Dom uses in live trading
- Weekly trading insights from a developer with 16+ years of market experience
100% free forever. Your email is safe – we never sell, share, or spam. Unsubscribe with one click anytime.
By downloading, you agree to receive trading tips and indicator updates from ForexOBroker. Unsubscribe anytime.
Overall Rating: 4.6/5
| Category | Rating |
|---|---|
| Accuracy | 4.4/5 |
| Ease of Use | 4.8/5 |
| Features | 4.5/5 |
| Value | 4.9/5 |
Related Indicators
- Moving Average Indicator MT4 – The foundational trend indicator and essential pairing partner for the Supertrend strategy
- EMA Indicator MT4 – Deep dive into exponential moving averages, including the 200 EMA used in our Supertrend strategy
- ADX Indicator MT4 – Measures trend strength to confirm whether a Supertrend signal has momentum behind it
- Ichimoku Cloud MT4 – A more complex trend system that combines multiple indicators into a single cloud display
- See all Trend Indicators – Browse our complete trend indicator collection
- How to Install Custom Indicators on MT4
Trading forex involves significant risk of loss and is not suitable for all investors. Past performance is not indicative of future results. The indicators provided on ForexOBroker are for educational purposes only. Always use proper risk management and never trade with money you cannot afford to lose.