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Coloured Parabolic SAR

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Published: 16 January 2025

Current version: 1.3

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Coloured Parabolic SAR

Indicators
Moegamat Luqmaan Titus
Version: 1.3
Updated: 30 January 2025

Overview:
The Coloured Parabolic SAR Indicator is a visually enhanced trading tool designed to make trend-following and trade identification easier. This customizable indicator provides clear visual cues with color-coded signals for bullish (buy) and bearish (sell) trends directly on your MT4 chart.

Key Features:

Color-Coded Signals:
- Lime green "o" symbol for Buy signals.
- Red "o" symbol for Sell signals.
Customizable Inputs:
- Adjustable Step and Maximum parameters to fine-tune the Parabolic SAR calculation.
- Customizable line width and colors to suit your trading style and chart appearance.
Simple and Effective Visualization:
- Easily identify bullish and bearish trends with distinct symbols plotted above or below the price candles.
- Helps you quickly assess market conditions at a glance.
Compatibility:
- Works on all MT4-supported symbols and timeframes.

Who Is It For?

Traders looking for a straightforward way to incorporate the Parabolic SAR into their trading strategy.
Ideal for trend-following strategies or as a confirmation tool alongside other indicators.

Inputs:

Step: Defines the sensitivity of the Parabolic SAR (default: 0.02).
Maximum: Sets the maximum value for the indicator (default: 0.2).
Line Width: Adjust the thickness of the plotted signals.
Line Color Up: Choose the color for bullish signals (default: Lime).
Line Color Down: Choose the color for bearish signals (default: Red).

How It Works:
The indicator calculates the Parabolic SAR values for each candle and displays:

Buy Signals: When the price closes above the SAR value, indicating a potential upward trend.
Sell Signals: When the price closes below the SAR value, indicating a potential downward trend.

Why Choose This Indicator?

Ease of Use: No clutter, just clear and concise signals.
Customizable: Tailor it to match your trading needs and chart preferences.
Versatility: Effective for scalpers, day traders, and swing traders alike.

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Version 1.3 2025.01.30

Added 2 new modes
- Default
- Higher time frame
- Extended Higher time frame