OPEN-SOURCE SCRIPT
Parabolic SAR
This script is a Parabolic SAR implementation based on Thinkorswim (TOS) default specifications.
Key Features:
Continuous Line: Instead of discrete dots, this version uses a continuous line to better visualize the acceleration and trailing stop levels.
Auto-Color Trend: The line automatically changes color based on the trend (Green when below price, Red when above).
TOS Standard: Default parameters are set to Acceleration Factor 0.02 and Limit 0.2.
Best For:
Protecting profits during high-momentum moves. The accelerating nature of the line helps traders exit efficiently as soon as price momentum begins to fade.
Key Features:
Continuous Line: Instead of discrete dots, this version uses a continuous line to better visualize the acceleration and trailing stop levels.
Auto-Color Trend: The line automatically changes color based on the trend (Green when below price, Red when above).
TOS Standard: Default parameters are set to Acceleration Factor 0.02 and Limit 0.2.
Best For:
Protecting profits during high-momentum moves. The accelerating nature of the line helps traders exit efficiently as soon as price momentum begins to fade.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.