Parabolic SAR
Info
The Parabolic SAR is a Indicator for MetaTrader 4 that parabolic sar technical indicator is designed for trend analysis in markets. It is plotted on the price chart, resembling a moving average but with a key difference: Parabolic SAR moves with greater acceleration and can change its position relative to the price.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Indicators folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use Parabolic SAR
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
Parabolic SAR technical indicator is designed for trend analysis in markets.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Indicator works on MetaTrader 4. Place the file in the MQL4/Indicators folder and restart the terminal.
Description & Settings
Related: parabolic sar, cci, and ma strategy - another powerful indicator for MetaTrader 4 traders.
Parabolic SAR technical indicator is designed for trend analysis in markets. It is plotted on the price chart, resembling a moving average but with a key difference: Parabolic SAR moves with greater acceleration and can change its position relative to the price.Also recommended: automatic parabolic support and resistance levels indicator - similar indicator with strong performance on MetaTrader 4.
When the market is bullish, the indicator is positioned below the prices, and during a bearish market, it is above the prices.
Parabolic SAR
If the price crosses the Parabolic SAR lines, the indicator flips, and its subsequent values are positioned on the opposite side of the price. In such a reversal, the reference point is the previous period's high or low. This reversal signals either a trend shift or its reversal.
Parabolic SAR is particularly useful for identifying exit points. Traders should close long positions when the price drops below the SAR line and short positions when the price rises above the SAR line. It is commonly employed as a trailing stop line.
When a long position is open (price above Parabolic SAR), the indicator line moves upward regardless of price movement. The extent of the Parabolic SAR line's movement is determined by the price movement.
Calculation
For long positions:
SAR (i) = acceleration * (high (i - 1) - SAR (i - 1)) + SAR (i - 1)
For short positions: SAR (i) = acceleration * (low (i - 1) - SAR (i - 1)) - SAR (i - 1)
Where:
- SAR (i - 1) is the value of Parabolic SAR on the previous bar
- Acceleration is the acceleration factor
- High (i - 1) is the high price for the previous period
- Low (i - 1) is the low price for the previous period
The indicator value increases if the current bar's price is higher than the previous bullish bar, and vice versa. The acceleration factor (acceleration) doubles, causing Parabolic SAR and the price to converge. Essentially, the faster the price rises or falls, the quicker the indicator moves towards the price.
Technical Indicator Description
For a comprehensive understanding of Parabolic SAR, refer to the Technical Analysis: Parabolic SAR section.
You may also like: Parabolic M - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property strict
#property indicator_chart_window
#property indicator_buffers 1
#property indicator_color1 lime
input double inpsarstep=0.02; // step
input double inpsarmaximum=0.2; // maximum
double extsarbuffer[];.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.