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Parabolic SAR

This is a redesign of the built-in Parabolic SAR indicator. I added a proper input system, an option to highlight initial points for both lines and an option to choose points width. So, customize it as you want.

Parabolic SAR was originally developed by J. Welles Wilder and described in his book "New Concepts in Technical Trading Systems" (1978). It is a trend-following indicator that can be used as a trailing stop loss.

To know which settings for PSAR are the most profitable on your instrument and timeframe you can use this tool

Profitable Parabolic SAR
Release Notes:
  • Added Buy/Sell alerts
  • Added Buy/Sell labels
Release Notes:
  • Fixed alert messages
Release Notes:
  • Converted to V4
  • Added long/short state highlighting
Release Notes:
  • Update

Skript med en öppen källkod

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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