Parabolic SAR Multiple Timeframe levels (TechnoBlooms)

2月20日

The Parabolic SAR (Stop and Reverse) is a valuable tool for traders due to its ability to provide clear signals for trend direction and potential reversal points. One of its primary benefits is the ease of use; it visually indicates whether the market is trending up or down, helping traders decide when to buy or sell. The indicator also aids in setting stop-loss orders as it moves with price, offering a dynamic way to manage risk by suggesting when to exit a position if the trend reverses.

Viewing the Parabolic SAR (PSAR) across multiple timeframes offers traders a comprehensive approach to understanding market trends and making strategic decisions. By analyzing the PSAR on shorter timeframes like 1-minute or 5-minute charts, traders can pinpoint precise entry and exit points for quick trades, capitalizing on immediate market movements.


Settings

> User can select 10 different timeframes according to their wish

> User can change Parabolic SAR settings like Start, Increment and Maximum Value

3月10日

版本注释

This updated script is to provide better understanding about the price movement to the next support and resistance levels, in multi-timeframes.

3月11日

版本注释

Changed colors for better understanding.