The HTF PSAR filter can be used to trade with HTF trends while firing alerts on low time frames. It can also ensure you stay on trend during major reversals.
-The PSAR Indicator starts with the SMA9 and SMA62 Simple moving averages which are plotted on chart. (SMA9 is Green, SMA62 is Red.)
-SMA Crosses are plotted indicating trend direction (whether or ) and will print Longs or Shorts on the chart as long as Indicator filtering settings align.
-The appears on the chart as a series of dots, either above or below an asset's price, depending on the direction the price is moving.
-Red dots indicate , whereas green dots indicate . The PSAR Indicator will do well on larger scale time frames for trend detection.
-You can also enable/disable the Limiter, which can help eliminate late signals and divergences.
-The HTF filter can be used to filter out tops and bottoms on lower time frames as well.
NEW WITH VERSION 4
Use the divergence filter (BULL/BEAR DIV ) to avoid tops/bottoms with weakening . We call these fake outs, and they are now a thing of the past!
Multiple Time Frames for and Diversions!
This allows us to capture more price action depending on overall market trend, with diversions cutting less price action in the direction of the overall market.
This also allows us manage risk on counter trading by making counter trend Diversions more sensitive.
During pumps it could be more profitable to run PSAR without Diversions. This gives us a legacy V3 mode
V4 NRP = NO REPAINTING
This is really a ground breaking update. I have created a custom HTF function to eliminate repainting, so every alert you see on the chart will fire in real-time.
Important note: With NRP you must wait for candle closure on HTF before alerts will react, so if there is a 5m trend change it will take 5 minutes to react.
PSAR TREND VERIFICATION –
allows users to confirm trend change with higher highs (longs) or lower lows (shorts), as well as set the analysis period for trend change
To gain access to the script please send a message or visit the link below!
Updated V4 default values without DIVS enabled for more signals.
- New divergence filter allows more precision when cutting tops and bottoms
- Improved visualizations to show divergences while keeping charts visually cleaner
- Single time frame for Divergence Filter for ease of use and to reduce repainting
- PSAR trend alerts for your HTF PSAR filter and PSAR Verify filter (use these to enable/disable bots based on HTF trend)
The lower, medium, higher settings will automatically adjust the advanced settings according to your chosen risk level (using the settings from our PSAR Settings Spreadsheet).
Highest (Degen) is DIVs off... be careful with this!
Selecting None will use your own custom advanced settings.
Selecting any of the other default settings will override advanced settings.
- Improved Default Risk Settings
- Changed Default PSAR HTF 5m
- Included 60m Trend Verification with "Lower" Setting
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