This plots a Parabolic sar and a break line on the previous sar point before the parabolic sar flips.
This is looking to be a very popular entry signal for lots of strats.
How to use:
In conjunction with other confirmation indicators; Long: Enter long when the Parabolic sar is below the price and the price breaks above (and closes) the break line. Short: Enter short when the Parabolic sar is above the price and the price breaks below (and closes) the break line.
A great indicator combination for this is to use a 200 ema for price trend and volume flow.
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Added long and short labels that show when the psar line is broken with high volume
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Changed chart
Added check that labels should not show if the breaking candle has a long wick
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removed wick check as it was buggy
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Only show signals when parabolic sar is bullish/bearish.
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Selectable timeframe
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Added alerts and changed breakout labels.
After some research, I have found that when a parabolic Sar Breakout line is broken by price with high volume, it is much more likely to continue in that direction, and so I have have added strong and weak breakout labels.
hello sir, thank you for your Parabolic sar with breaks indicator. Can you add a multi-time graph for this? For weekly monthly daily time ?
Zen4Sky
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sir thank for nice break lines
can u pls draw break line at the high of candle where the parabolic signal changes. it will be of grt help Thanks
carlpwilliams2
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Because I want to add a small offset to it of 2%. I intended to add in input for the 0.2 to slightly move the break between the sar positions by a percentage.
Mr-Trade_
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why do you add ((out[1]/100)*0.02) to the break line?