200 EMA Filtered Parabolic SAR

This script uses Parabolic SAR with the 200 EMA to determine long and short trends. Only long signals are given when the price is above the 200MA and shorts when it is below. Signals are further filtered using ADX to reduce noise.

Suitable for trading bots where open positions in the same type are set to be ignored.

Alerts are built in.
Release Notes: Added optional alerts for exits
Release Notes: Adjusted filtering on entries
Release Notes: Switching snapshot image to classic candles
Release Notes: Added the option to plot the 21 EMA
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Also, Does the 21 ema affect the signals or just there to show the trend?
colinmck Mallikcrypto
@Mallikcrypto, Hello! Yes, 21 ema is included just so that the trend can easily be plotted. As for your other comment, ADX is esssentially another moving average indicator that has a threshold to indicate the strength of a trend. That threshold is used here to validate PSAR.
@colinmck, is the psar signal candle open or close?
Can you explain how the ADX works?
please keep this indicator like this only love it !! works excellent with macd and standalone also
colinmck gunturusurya
@gunturusurya, Great! Glad to hear it works for you. There will be no further development on this, so consider it locked down.
I realized the chart display the default 200MA and 7MA. However it did not show the 21MA.
Kindly advise how to make it display the 21MA.

colinmck Kennyfoong
@Kennyfoong, Hi, thanks for the suggestion. I didn't add it originally as the chart is already quite crowded, but I just published a new version which gives you the option to plot the 21 EMA.
Kennyfoong colinmck
@colinmck, Awesome.. Thank You.
This look quite promising Colin. When used with the QQE script, I notice that the QQE seems to trigger more trades than the script above. To use these two scripts in combination, I guess you disregard these in favour of the QQE entries? Will be forward testing on the major currencies for a month. Thanks for sharing mate
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