Hey guys, I'm trying to implement the supertrend indicator (similar to the one provided by the https://kite.zerodha.com/ charts) however I can't find a credible source for it. So far I've found three and all three are conflicting:
@ziptaptoe did you verify the results with kite using all the three sources? Attached excel working of supertrend which match with kite on nifty. It's not in good format but you should be able to figure out the formulas.
None of them are matching with Zerodha Kite. I tested with APOLLOTYRE daily candle data. On 20 Feb 2020, it was showing as Uptrend where as in Zerodha Kite, it was Downtrend since 30 Jan 2020 till today.
Please help if anybody having working Supertrend formula which matches Zerodha Kite indicator. Zerodha Kite is not wrong as similar trend is shown on Upstox as well as chartink.
@baruns if your formula are right then it should match. It just that your initial working would not match as the numbers need to be smoothened. If you check the excel shared by me in above comments, values did not match for initial period from April 16 till June 16, after that all the values are matching. So when you building any indicator you need to give a buffer for computation to get on track.
@Vaga I have tried the same formula which you have used but I am not getting the exact output as compared with zerodha kite. Do we need to have previous day data for better accuracy?
Please help if anybody having working Supertrend formula which matches Zerodha Kite indicator. Zerodha Kite is not wrong as similar trend is shown on Upstox as well as chartink.
@RajeshSivadasan you can check inuvest.tech and build the strategy using supertrend on any stock.