This is a multi-timeframe Parabolic SAR indicator which uses 1 and 4 hour charts.
Using this indicator is simple, if the LifeTime line is green then buy, if red then sell OR don't trade.
Green Line - This strategy is in a buy position
Red Line - This strategy is in a sell position
Any other colour - Don't trade
The traders approach is simple, when all indicators are green or red, then take the trade. As soon as one indicator changes, then re-evaluate using your normal process, such as price action, to determine whether to close the trade or continue.
How to download and install an indicator
In order to install the indicator on your MT4 platform, you need to follow these steps:
- Click on the “Download Indicator” button located at the bottom of the screen.
- Save the file to your computer.
- Extract and move the files into the MT4>Indicator folder of the MetaTrader5 software file directory.
- Restart your Metatrader platform.
- Navigate to “Indicators.”
- And select the “PSAR Oscillator MTF Heatmap MT4 Indicator" template to apply it on the chart.
Try the Parabolic SAR indicator on a free trading account with an AtoZ Approved broker:
Note: This indicator was developed by Max. AtoZ Markets does not carry any copyrights over this trading tool.
Should you use the Parabolic SAR indicator on your own at all?
Before you start trading with the Parabolic SAR indicator, you'll want to read this.
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