Swing Determinator Parabolic SAR

This Swing determiner is based on the Parabolic SAR indicator trend by Welles Wilder. The dots above or below the price evolve in a parabolic shape to the price and are used to exit a trade (the stoploss).

When a red (short) or blue (long) candle is formed after a swing of Parabolic SAR, an entry order can be placed after the close, in the direction of the color. After the entry the stoploss order is trailed on the dots of the Parabolic SAR. The exit is when the stoploss is hit.

The grey candles will be ignored as entry signal.

//Swing Determinator Parabolic SAR
//11-07-2018
//Marcel van Vliet

//--- parameters

// mmTYPE=1 (mm type)
// ---


bodyhigh = max(open,close)
bodylow = min(open,close)

if(open<=close and close > SAR) then
 LongWickUp = high
 LongCandleUp = bodyHigh
 LongWickDown = low
 LongCandleDown = bodyLow
elsif(open>=close and close > SAR) then
 LongWickUp = low
 LongCandleUp = bodyLow
 LongWickDown = high
 LongCandleDown = bodyHigh
elsif(open<=close and close < SAR) then
 ShortWickUp = high
 ShortCandleUp = bodyHigh
 ShortWickDown = low
 ShortCandleDown = bodyLow
elsif(open>=close and close < SAR) then
 ShortWickUp = high
 ShortCandleUp = bodyLow
 ShortWickDown = low
 ShortCandleDown = bodyHigh
endif

//bullish candlesticks
if close>SAR then
 DRAWCANDLE(LongCandleDown,LongWickUp,LongWickDown,LongCandleUp) coloured(0,0,102)
Endif

//Neutral candlesticks above the MA
If close>SAR and close<open then
 DRAWCANDLE(LongCandleDown,LongWickUp,LongWickDown,LongCandleUp) coloured(150,150,150)
Endif

//bearish candlesticks
if close<SAR then
 DRAWCANDLE(ShortCandleDown,ShortWickUp,ShortWickDown,ShortCandleUp) coloured(200,0,0)
Endif

//Neutral candlesticks under the MA
If close<SAR and close>open then
 DRAWCANDLE(ShortCandleDown,ShortWickUp,ShortWickDown,ShortCandleUp) coloured(150,150,150)
Endif


RETURN