Introduction to the Parabolic Sar Arrows Alert Indicator
The Parabolic Sar Arrows Alert Indicator provides an arrow alert whenever a Parabolic Sar dot switches its place. An uptrend is considered when the Parabolic SAR dots are aligned below candles. Similarly, a downtrend takes place when the Parabolic SAR dots are aligned above candles. The indicator always plots an arrow accordingly.
The Parabolic Sar Arrows Alert Indicator fits all kinds of timeframes and currency pairs. It is displayed directly on the main trading chart. The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
Example trade with the Parabolic Sar Arrows Alert Indicator
Below is the screenshot of an example trade with the Parabolic Sar Arrows Alert Indicator.
As you can see, the dots of the Parabolic SAR switched placed from upward to downward movement. The Parabolic Sar Arrows Alert Indicator did his job and placed a sell arrow to trigger a potential trade, and then the price has, in fact, fallen.
How to set up the Parabolic Sar Arrows Alert indicator in MetaTrader (MT4)?
Download the Parabolic Sar Arrows Alert.rar archive at the bottom of this post, unpack it, then copy and paste the Parabolic Sar Arrows Alert.ex4 or Parabolic Sar Arrows Alert.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
The Parabolic Sar Arrows Alert indicator is well worth adding to your trading collection. A good forex indicator will most probably enhance your chance of success. Nonetheless, remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it. Don’t forget that we still have more great free forex MT4 indicators to download and try.
Download Free Forex MT4 Parabolic Sar Arrows Alert Indicator
To download the Parabolic Sar Arrows Alert Indicator for Metatrader 4 (MT4) for free just click the button below: