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
@everget Thanks very much for the script. Can you explain how to setup a alert in Trading view that will alert us when there is a Buy sign. What conditions to use ?
everget
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@bala1989, Hi, use PSAR Long condition in the alerts dialog
Hello @everget, thank you for the hard work and sharing with the community. Is it possibe to make an strategy out of it so we can run a test ?
Thank you in advance