The "Supertrend + SAR" background indicator
June 7, 2016, 7:37 AM
Indicators
9 Comments
Hello fellow traders,
This is a simple but nice code to get a GREEN background if close > Supertrend and Parabolic SAR, and RED background if close < Supertrend and Parabolic SAR.
Simple, but effective and useful. Of course, it is better on trend markets.
It will give you clearly the way to trade, don’t enter against the trend!
Of course, you can add other conditions.
From this, you can try to test your own strategies, with this filter. I will personally try to test it in combination with precise entry / exit rules.
Regards,
ST = supertrend[3,10]
PSAR = SAR[0.02,0.02,0.2]
IF close > PSAR and close > ST THEN
backgroundcolor(204,255,204)
ELSIF close < PSAR and close < ST THEN
backgroundcolor(255,204,204)
ENDIF
RETURN
Download
Filename:
Supertrend-SAR.itf
Downloads:
557
Master
Hello, I'm Marc.
Nice to meet you.
Author’s Profile
Loading...