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TradePro Parabolic SAR Background

TradePro Parabolic SAR Background

This indicator is a small tribute to youtuber TradePro

The operation is simple. It is the same Parabolic SAR indicator with its default configuration, but in background format. It is a new way to visualize the same information, more understandably. It is in itself a complete trading system, it can be used in conjunction with the traditional Parabolic SAR to locate the stop loss.

Parabolic SAR

In stock and securities market technical analysis , parabolic SAR ( parabolic stop and reverse ) is a method devised by J. Welles Wilder, Jr., to find potential reversals in the market price direction of traded goods such as securities or currency exchanges such as forex. It is a trend-following (lagging) indicator and may be used to set a trailing stop loss or determine entry or exit points based on prices tending to stay within a parabolic curve during a strong trend.

Similar to option theory's concept of time decay, the concept draws on the idea that "time is the enemy". Thus, unless a security can continue to generate more profits over time, it should be liquidated. The indicator generally works only in trending markets, and creates "whipsaws" during ranging or, sideways phases. Therefore, Wilder recommends first establishing the direction or change in direction of the trend through the use of parabolic SAR , and then using a different indicator such as the Average Directional Index to determine the strength of the trend.

A parabola below the price is generally bullish , while a parabola above is generally bearish . A parabola below the price may be used as support, whereas a parabola above the price may represent resistance.

Notas de prensa: Improved Indicator
Notas de prensa: Improved Indicator
Script de código abierto

Siguiendo el verdadero espíritu de TradingView, el autor de este script lo ha publicado en código abierto, para que los traders puedan entenderlo y verificarlo. ¡Un hurra por el autor! Puede utilizarlo de forma gratuita, aunque si vuelve a utilizar este código en una publicación, debe cumplir con las Normas internas. Puede marcarlo como favorito para usarlo en un gráfico.

¿Quiere utilizar este script en un gráfico?

Comentarios

Please discuss when to buy and when to sell
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rubend18 mhm2011
Hi @mhm2011, in the background color change
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Yes improved. Simple but effective.
Thanks!
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rubend18 SpreadMasters
@SpreadMasters, Thanks also
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