OPEN-SOURCE SCRIPT
Parabolic SAR BY CARLOZ
🔹 What is the Parabolic SAR?
The Parabolic SAR (developed by Welles Wilder) is a trend-following indicator used to identify potential entry and exit points in the market.
🔹 What does “SAR” mean?
SAR = Stop And Reverse.
It suggests where to place a stop loss and also indicates when to reverse a position (from long to short or short to long).
🔹 How does it look on the chart?
It appears as a series of dots above or below the price:
Dots below price → bullish signal (uptrend).
Dots above price → bearish signal (downtrend).
The Parabolic SAR (developed by Welles Wilder) is a trend-following indicator used to identify potential entry and exit points in the market.
🔹 What does “SAR” mean?
SAR = Stop And Reverse.
It suggests where to place a stop loss and also indicates when to reverse a position (from long to short or short to long).
🔹 How does it look on the chart?
It appears as a series of dots above or below the price:
Dots below price → bullish signal (uptrend).
Dots above price → bearish signal (downtrend).
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.