In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.
//Created By ChrisMoody on 7/25/2014 //Simply Enhances Default Parabolic SAR by creating Two Color Options, One for UpTrend, Other for DownTrend //Ability To Turn On/Off The Up Trending Parabolic SAR, And The Down Trending Parabolic SAR study(title="CM_Parabolic SAR", shorttitle="CM_P-SAR", overlay=true) start = input(2, minval=0, maxval=10, title="Start - Default = 2 - Multiplied by .01") increment = input(2, minval=0, maxval=10, title="Step Setting (Sensitivity) - Default = 2 - Multiplied by .01" ) maximum = input(2, minval=1, maxval=10, title="Maximum Step (Sensitivity) - Default = 2 - Multiplied by .10") sus = input(true, "Show Up Trending Parabolic Sar") sds = input(true, "Show Down Trending Parabolic Sar") disc = input(false, title="Start and Step settings are *.01 so 2 = .02 etc, Maximum Step is *.10 so 2 = .2") //"------Step Setting Definition------" //"A higher step moves SAR closer to the price action, which makes a reversal more likely." //"The indicator will reverse too often if the step is set too high." //"------Maximum Step Definition-----") //"The sensitivity of the indicator can also be adjusted using the Maximum Step." //"While the Maximum Step can influence sensitivity, the Step carries more weight" //"because it sets the incremental rate-of-increase as the trend develops" startCalc = start * .01 incrementCalc = increment * .01 maximumCalc = maximum * .10 sarUp = sar(startCalc, incrementCalc, maximumCalc) sarDown = sar(startCalc, incrementCalc, maximumCalc) colUp = close >= sarDown ? lime : na colDown = close <= sarUp ? red : na plot(sus and sarUp ? sarUp : na, title="Up Trending SAR", style=circles, linewidth=4,color=colUp) plot(sds and sarDown ? sarDown : na, title="Up Trending SAR", style=circles, linewidth=4,color=colDown)