HammondB3

B3 PSAR v4

This is an update to Pinescript version 4 for one of my oldest indicators, Parabolic Stop and Reverse.
The indicator math and algorithm has not been modified, but the stylization and usage has improved.

Added:
  • Bar-coloring = User sets the up and down colors in user interface style menu.
  • Inputs = The two inputs' up-down arrows now increment by thousandths & hundredths respectively. This is a vast improvement! Just leave the UI up when fishing for a value and watch the chart change.
  • Alerts!!! = Set your alerts to "B3 PSAR" then "Any alert() function call" in your Alerts User Interface; and you can also quickly turn alerts on/off in the PSAR indicator's UI .
Important Note:
TradingView has a version of PSAR, and you may find other scripters make the indicator as well.
People make claims on what math or algorithm is correct and what were Wilder's intentions for the indicator.
I am not interested in the theory, MY VERSION OF PSAR MATCHES OTHER PLATFORMS' CHART RESULTS for their native PSAR (Tradestation, TOS , etc). ;-)

Text copied from the obsolete posts:
Version 1 notes:
I have seen Parabolic SAR done several ways in the past and on several platforms. I have a few trailing systems I use to have a time-affected stop, meaning that as time goes, the way the stop works changes. In this method, you have a stop starting off of the high or low at the time of the cross of the previous stop, giving you a binary flipping agent. I like the usage of this system upon trendy action, however, in sideways action, the indicator flips back and forth with no pertinence. The flat lines represent the last price that was crossed, and as the PSAR crosses the line you essentially lock in profits in the trend.

Version 2 notes:
The minimum value inputs for acceleration and limiter inputs have been set to zero, by P.M. request.

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