Parabolic SAR Heikin Ashi MTF Candle Scalper

15 may 2022

This is scalper strategy designed around parabolic sar indicator, where as an input candle value it uses the heikinashi from a higher timeframe.

This example has been adapted to SPY/SPX chart

In this case ,we are using a 5 min chart, but the calculations are made on a 15 min heikin ashi chart for the PSAR and then on 5 min chart we plot the results.

At the same time we are conditioning the entry to be base on a time/session for daytrading/scalper mentality
In this case we only enter within the first 30 min of SPY opening session , and then we exit after 3-4 hours of staying in the position ( unless we hit a reverse condition).

For long condition we enter when the mtf ha candle close is above the mtf psar and for short condition we enter when the mtf ha candle close is below the mtf psar


This script is made with an educational purpose to show the power of multiple time frame approach compared to a single chart.


If you have any questions, let me know !