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Envelope SAR Indicator
Info
The Envelope SAR Indicator is a Indicator for MetaTrader 5 that envelope sar indicatorthis indicator calculates the distance between the current candle and the parabolic sar dot, then normalizes this distance by dividing it by the total width of the envelope channel. The formula used is:Level = (Price - SAR) / (Envelope Upper - Envelope Lower)By using the Envelope width as a divisor, the indicator scales itself automatically.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Envelope SAR Indicator
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
Envelope SAR IndicatorThis indicator calculates the distance between the current candle and the Parabolic SAR dot, then normalizes this distance by dividing it by the total width of the Envelope channel.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: B Bands Psar Indicator - another powerful indicator for MetaTrader 5 traders.
Envelope SAR IndicatorThis indicator calculates the distance between the current candle and the Parabolic SAR dot, then normalizes this distance by dividing it by the total width of the Envelope channel.
Also recommended: Smart Money Concepts Market Structure Indicator for MT5 - similar indicator with strong performance on MetaTrader 5.
The formula used is:
Level = (Price - SAR) / (Envelope Upper - Envelope Lower)
By using the Envelope width as a divisor, the indicator scales itself automatically. A value of 1.0 or -1.0 indicates that the distance between price and the SAR is exactly equal to the total height of the Envelope channel.
Histogram Interpretation:
Lime Bars (UpLevel / Bullish Momentum): Appear when the minimum of the open/close price is above the Parabolic SAR. Higher lime bars signify aggressive upward acceleration, demonstrating that price is rapidly moving away from its trailing stop.
Red Bars (DownLevel / Bearish Momentum): Appear when the maximum of the open/close price is below the Parabolic SAR. Deeper red bars indicate strong downward momentum as price drops significantly below the trailing stop.
Gaps / Blanks: When the Parabolic SAR flips or is positioned directly within the candle body (violating the upLevel > 0 or downLevel < 0 conditions), the histogram displays an empty value. This signals a structural trend pivot or extreme market consolidation.
Primary Use Cases:
Measuring Trend Strength: Beyond simply identifying the trend's direction, fixed grid lines (0.5, 1.5, 2.5) enable the assessment of trend acceleration or deceleration.
Filtering False Breakouts: If price experiences a breakout but the histogram does not cross key structural levels (e.g., 0.5), it serves as a warning of a potentially weak move.
You may also like: Consecutive Bars Indicator for MT5 with History - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "RobotFX"
#property link "https://robotfx.org"
#property version "1.00"
#property indicator_separate_window
#property indicator_buffers 2
#property indicator_plots 2
#property indicator_type1 DRAW_HISTOGRAM
#property indicator_color1 Lime
#property indicator_width1 2
#property indicator_label1 "UpLevel".......
⚠ 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.