Thanks for the share. Supertrend indicator is a very simple indicator. The Buy and Sell signal changes as soon as the indicator flips over the closing price. When the Supertrend closes below the Price, a Buy signal is generated, and when the Supertrend closes above the Price, a Sell signal is generated.
Although, Supertrend is a trending indicator, and like all trending indicators it works well in trending markets (i.e. in uptrends and downtrends). There’s nothing perfect in Technical Analysis and so is Supertrend also; as it does give false signals in sideways trends. However, it does give lesser false signals than a lot of other indicators and hence if you are an intraday trader who wants to use this indicator as part of your trading strategy, you definitely want to use Supertrend in your trading arsenal and most importantly, you must use alongside other indicators as filters to avoid sideways entries.