Parabolic Signals Alert Metatrader 4 Forex Indicator
The Parabolic Signals Alert forex indicator alerts you when Parabolic SAR reverses its trend direction.
The basics of the Parabolic SAR indicator are easy to understand:
- A buy trend occurs when the Parabolic SAR dots are positioned below the candlesticks.
- A sell trend occurs when the Parabolic SAR dots are positioned above the candlesticks.
The Parabolic Signals Alert forex indicator shows you the current trend (bullish or bearish) and the suggested trade position (open BUY order or open SELL order)
You will get notified with an on screen pop up alert and email alert.
Some traders mix the Parabolic SAR indicator with other technical indicators or with price action methods.
Parabolic SAR works good for short-term buy and sell trends. So, scalpers and day traders can benefit from this indicator.
Furthermore, the Parabolic Signals Alert indicator displays the following Metatrader 4 account info on the main trading chart (can be turned ON and OFF).
- Broker name
- Account number
- Trade Mode (demo or real)
The USD/CHF 1-Minute chart below displays the Parabolic Signals Alert Metatrader 4 indicator in action.
Basic Trading Signals
Signals from the Parabolic Signals Alert MT4 indicator are easy to interpret and goes as follows:
Buy Signal: Open buy position when the Parabolic Signals Alert MT4 indicator displays “open BUY order” on the chart. Confirm the possible buy trade with other technical indicators or with price action methods. Place a stop-loss below the green PSAR signal dots.
Sell Signal: Open sell position when the Parabolic Signals Alert MT4 indicator displays “open SELL order” on the chart. Confirm the possible sell trade with other technical indicators or with price action methods. Place a stop-loss above the green PSAR signal dots.
Trade Exit : Use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (step, maximum, display alerts, email alert, display trade info) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the ParabolicAlert.mq4 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)