Supertrend Channels is a custom overlay indicator designed to help traders visually identify dynamic support and resistance zones, entry signals, and trailing stop-loss levels using ATR-based logic.

The indicator plots three lines:

• Upper Band (Green) – acts as a dynamic resistance or trailing stop-loss for long trades.
• Lower Band (Red) – acts as dynamic support or trailing stop-loss for short trades.
• Middle Line (Purple) – serves as a mean-reversion level or potential entry point.

It calculates bands using the Average True Range (ATR) multiplied by a user-defined factor (Multiplier) and adds/subtracts that from the high/low of the current candle. A smoothing method (selectable MA type) is applied to the ATR to adjust responsiveness.

How to Use:

• Entry: Look for entries near the middle line during consolidations or after crossing signals.
• Trailing Stop-Loss: Use upper/lower bands as dynamic exit zones to lock in profit as trends extend.
• Support & Resistance: These bands act like adaptive zones that reflect recent volatility and help spot potential turning points.

Unlike standard Bollinger Bands, this approach anchors bands off price extremes plus volatility, not a moving average, making it more responsive in trending environments and more adaptable for discretionary or algorithmic trading.