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PROTECTED SOURCE SCRIPT
Updated

Legacy PSAR

This indicator is a porting to the new Pine scripting language from TradingView, leveraging the old official TradingView's Java-based SAR indicator. The accuracy of their new and current official algorithm is being disputed, behavior changed in february 2020 and there's a fundamental flaw in implementation.
Release Notes
Alert conditions added for reversals.
Release Notes
Fixed alert trigger conditions.
Release Notes
Final testing of alert conditions.
Release Notes
Low limit for "Max Value" decreased from 0.1 to 0.05.
Release Notes
Reversals cannot happen on previous SAR == current SAR, this is a high chance of double-top or double-bottom and create a false positive signal. Now reversals can only happen on current SAR greater-than or less-than previous SAR.
Release Notes
Usability and presentation improvements:
  • All parameters can move in increments of 0.01 through the increase/decrease buttons
  • maxValue parameter range now goes from 0.01 to 1.0
  • Default thickness of the plot is now 1
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Parabolic Stop and Reverse (PSAR)SAR

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This script is published closed-source and you may privately use it freely.

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