This strategy utilizes Parabolic SAR (Stop and Reverse) along with EMA filtering to improve accuracy. Use the strategy to find optimal settings for the pair your are trading.
Long: 1. SAR below price action 2. Above slow EMA (Default 100 EMA) 3. Update trailing stop daily and exit trade once stopped out.
Short 1. SAR above price action 2. Below slow EMA (Default 100 EMA) 3. Update trailing stop daily and exit trade once stopped out.
White Bars = No trade zone which helps filter out bad trades compared to only using Parabolic SAR.
Release Notes
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-Update to from version 3 to version 4 pinescript. -Added ability to toggle use of EMA filtering.
Release Notes
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Added RSI Condition for shorts and cleaned up a few things.