Parabolic SAR & Arnoud Legoux Moving Avarage Strategy by F_Ozyuksel

In the first short signal example, after price closes below the ALMA and the parabolic SAR plots above the price high, sell signal is opened with the stops trailed to the PSAR values until the trade is stopped out.

Similarly, you can see a long position where price cuts above the ALMA and the Parabolic SAR plots below the price low. Using these values as the trailing stop levels, we can stay long into the trade until the trade is stopped out.

Find out optimal values by trying. May not produce accurate results in horizontal markets. Thank you.

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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.

Want to use this script on a chart?