Parabolic SAR Metatrader 4 Forex Indicator

The Parabolic SAR MT4 forex indicator is a popular forex trading indicator.

SAR refers to “Stop and Reverse”.

The indicator draws colored dots above and below the price.

Parabolic SAR dots above the price suggests the price is down trending.

Parabolic SAR dots below the price suggests the price is up trending.

This indicator can be used as a stand alone buy/sell forex indicator, however, it is recommend to use it together with other analysis tools or indicators for more profitable buy and sell trading signals.

This indicator can be used for scalping, day trading and short-term swing trading on any currency pair.

Free Download

Download the “Parabolic.mq4” MT4 indicator

Example Chart

The USD/JPY M15 chart below displays the Parabolic SAR forex indicator in action.

Basic Trading Signals

Parabolic SAR trading signals are simple to interpret and goes a follows:

Buy Trade: Dots appear below the price (short-term bullish)

Bell Trade: Dots appear above the price (short-term bearish)

Tip: Add a 200 period simple moving average to the trading chart and trade in the overall direction of the trend indicated by the moving average.

Trend up? Only trade parabolic buy signals

Trend down? Only trade Parabolic sell signals

Download

Download the “Parabolic.mq4” Metatrader 4 indicator

MT4 Indicator Characteristics

Currency pairs: Any

Platform: Metatrader 4

Type: chart pattern indicator

Customization options: Variable (Step, Maximum) Colors, width & Style.

Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month

Type: Signals

Installation

Copy and paste the Parabolic.mq4 indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.

You can access this folder from the top menu as follows:

File > Open Data Folder > MQL4 > Indicators (paste here)

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