Scalping with Parabolic SAR and Fibonacci

Scalping with Parabolic SAR and Fibonacci

This scalping indicator was requested in the indicators’ forum, it contains 2 parabolic SAR of different settings and plot automatically entry, stoploss and target levels calculated with Fibonacci retracement.

The rules are:

LONG

  • When price breaks up through the 0.02 & 0.2 PSAR you draw a Fibonacci retracement
  • from the closest last significant low (before pirce broke PSAR)
  • to the high of the bar that broke the PSAR.
  • This gives you your PROFIT TARGET at 161.8% Level
  • and your ENTRY ar 50% level
  • STOP = Last Signifcant low -2 Pips

SHORT

  • When price breaks down through the 0.02 & 0.2 PSAR you draw a Fibonacci retracement
  • from the closest last significant high (before pirce broke PSAR)
  • to the low of the bar that broke the PSAR.
  • This gives you your PROFIT TARGET at 161.8% Level
  • and your ENTRY ar 50% level
  • STOP = Last Signifcant high +2 Pips

 

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Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

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  1. JMat45 • 211 days ago #

    Thanks, Nicolas, looking forward to experimenting with it.

    • Nicolas • 211 days ago #

      well, the last part of the code could have been more simple, i just saw that i let some of the rough code in it.. but it does not impact the functionality.

  2. kalleklovn • 211 days ago #

    How can i get the chart to where my price is? it always open in new window and i tried adding price but did not work

    • Nicolas • 210 days ago #

      Add it on the price chart by using the wrench at the left upper side of the price chart.

  3. Pinus • 207 days ago #

    Nicolas you are the best. Always!

  4. Larenzu • 206 days ago #

    Bonjour Nicolas,

    Merci pour ce bel indicateur. Que donne t-il en backtest ?

    • Nicolas • 205 days ago #

      Aucune idée, c’est une traduction fidèle d’une stratégie de trading manuel qui a été demandé dans le forum.

  5. juanj • 192 days ago #

    Tried converting this into a strategy but based on results not sure if I did it right. Especially the part where I need to refresh the stop orders based on the plotbar variable (in order to keep them valid)

  6. juanj • 192 days ago #

    Defparam cumulateorders = False

    possize = 1
    plotbar = 10 //no of bars to keep stop orders valid
    buffer = 2*pointsize

    sarfast=SAR[0.02,0.02,0.2]
    sarslow=SAR[0.005,0.005,0.05]
    FibTarget = 1.618
    FibStop = 50 //Expressed as percentage

    //highs and lows
    if close sarfast and close[1] sarslow) or (barindex – startbar <= plotbar) then
    startbar = barindex
    irange = high – fibo0
    entry = fibo0 + (irange/(100/FibStop))
    itarget = fibo0 + irange*FibTarget
    istop = fibo0 – buffer
    Buy possize contract at entry-buffer stop
    Set stop ploss (entry-buffer) – (istop-buffer)
    Set target pprofit (itarget-buffer) – (entry-buffer)
    endif
    endif
    if (close sarfast[1]) Then//new bearish signal
    fibo0 = hh
    hh = 0 //reset hh
    if (close < sarslow) or (barindex – startbar <= plotbar) then
    startbar = barindex
    irange = fibo0 – low
    entry = fibo0 – (irange/(100/FibStop))
    itarget = fibo0 – irange*FibTarget
    istop = fibo0 + buffer
    Sellshort possize contract at entry+buffer stop
    Set stop ploss (entry+buffer) + (istop+buffer)
    Set target pprofit (entry+buffer) – (itarget+buffer)
    endif
    endif

    • bertrandpinoy • 9 days ago #

      hello juanj, can you send the code repair by your good care to try scalping please?

  7. juanj • 192 days ago #

    Format of the above code is broken, the greater than and smaller than signs have disappeared. I tried using the Add PRT code option but it doesn’t work for Library posts.

  8. Géraud Laveissiere • 182 days ago #

    Bonjour Nicolas, merci pour ton aide précieuse. J aimerai avoir un indic sur le graphe avec des buy et sell dés que 2 hakenashi vert sont cassés à la baisse ( sell) ou 2 HA rouge sont cassés à la hausse( buy). Existe t’il ce code sur PRT? Géraud

    • Nicolas • 182 days ago #

      Merci d’ouvrir un nouveau sujet sur le forum des indicateurs, on verra ce qu’on peut faire pour créer cet indicateur de signaux de trading.

  9. sachinssmp • 176 days ago #

    required above mt4 indicators & mt4 template plz

    • Nicolas • 176 days ago #

      we do not provide mt4 indicators on our website, you can download and use the above code on ProRealTime trading software: https://www.prorealtime.com/

  10. leofi • 36 days ago #

    Bonjour Nicolas, j’espère que vous allez bien.

    Je vous remercie pour ce code, j’ai une petite question au niveau d’une variable.

    À la ligne numéro 24 de votre code, vous déclarez la variable “ll” comme ceux-ci “ll=min(ll,low)”.
    Cependant, je me demande à quoi elle est égale ? Car vous l’utilisez comme argument dans la fonction min(args, args) toujours à la ligne 24.

    Car dans ma logique pour moi, elle est nulle car aucune valeur lui est attribué avant…
    J’imagine qu’il y a un concept que je dois ignorer propre au langage PRT.

    Pouvez m’éclairer svp ?

    Je vous remercie d’avance pour votre réponse et je vous souhaite une bonne journée,
    bien à vous, Tom’s – Leofi.

    • Nicolas • 35 days ago #

      il est égale à la valeur minimale entre lui-même et Low

    • leofi • 35 days ago #

      D’accord, je vous remercie pour votre réponse.
      Bonne journée, bien à vous, Tom’s – Leofi.

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