Parabolic SAR Strategy (on close) [QuantNomad]

Created a Parabolic SAR strategy where price has to close under/above the level before for it to reverse. This way it should be a bit more stable and protect you from false breakouts.
It was impossible to adjust the built-in "sar" function so I implemented PSAR from scratch. So if you're interested in how it's work inside you can check the code and probably adjust to your need if you have a custom modification of PSAR in your mind.

Release Notes

Added "Entry on Nth trend bar" parameter. Now you can specify on which trends bar do you want to reverse position. That can help you to filter out noice and skip 1-2 bars trends.

Open-source script

In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.

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QuantNomad

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Open-source script

For quick access on a chart, add this script to your favorites — learn more here.

QuantNomad

Also on: