OPEN-SOURCE SCRIPT
Parabolic SAR + SuperTrend + Volume Oscillator / Owl of Profit
Parabolic SAR + SuperTrend + Volume Oscillator Strategy
This strategy combines the Parabolic SAR, SuperTrend, and Volume Oscillator indicators to generate high-confidence buy and sell signals based on trend direction, momentum, and volume.
Features:
Parabolic SAR:
A trend-following indicator that helps determine potential reversals.
Parameters:
Start: 0.02
Increment: 0.02
Max: 0.2
SuperTrend Indicator:
Determines the overall trend direction using price and ATR.
Parameters:
Length: 10
Multiplier: 3
The SuperTrend Cloud dynamically highlights bullish (green) or bearish (red) zones.
Volume Oscillator:
Measures the difference between short-term and long-term EMA of volume to assess momentum in trading activity.
Parameters:
Short Length: 14
Long Length: 28
Entry and Exit Logic:
Buy Condition:
Price is above the Parabolic SAR.
SuperTrend is bullish (price above the lower SuperTrend line).
Volume Oscillator is positive (indicating increasing volume).
Sell Condition:
Price is below the Parabolic SAR.
SuperTrend is bearish (price below the upper SuperTrend line).
Volume Oscillator is negative (indicating decreasing volume).
Trade Execution:
Opens a long position when the buy condition is met.
Closes the position when the sell condition is met.
Visualization:
Parabolic SAR: Red dots plotted above or below the price to indicate trend direction.
SuperTrend Cloud: A dynamic cloud that changes color based on bullish or bearish trends.
Volume Oscillator: Plotted as a blue line showing volume momentum.
Buy and Sell signals are clearly marked with "BUY" and "SELL" labels.
This strategy combines trend-following and volume-based confirmation for reliable trade entries and exits. Use it for backtesting and refining your trading approach.
Visit my website for more tools and strategies: bybitindicators.com
Happy trading!
This strategy combines the Parabolic SAR, SuperTrend, and Volume Oscillator indicators to generate high-confidence buy and sell signals based on trend direction, momentum, and volume.
Features:
Parabolic SAR:
A trend-following indicator that helps determine potential reversals.
Parameters:
Start: 0.02
Increment: 0.02
Max: 0.2
SuperTrend Indicator:
Determines the overall trend direction using price and ATR.
Parameters:
Length: 10
Multiplier: 3
The SuperTrend Cloud dynamically highlights bullish (green) or bearish (red) zones.
Volume Oscillator:
Measures the difference between short-term and long-term EMA of volume to assess momentum in trading activity.
Parameters:
Short Length: 14
Long Length: 28
Entry and Exit Logic:
Buy Condition:
Price is above the Parabolic SAR.
SuperTrend is bullish (price above the lower SuperTrend line).
Volume Oscillator is positive (indicating increasing volume).
Sell Condition:
Price is below the Parabolic SAR.
SuperTrend is bearish (price below the upper SuperTrend line).
Volume Oscillator is negative (indicating decreasing volume).
Trade Execution:
Opens a long position when the buy condition is met.
Closes the position when the sell condition is met.
Visualization:
Parabolic SAR: Red dots plotted above or below the price to indicate trend direction.
SuperTrend Cloud: A dynamic cloud that changes color based on bullish or bearish trends.
Volume Oscillator: Plotted as a blue line showing volume momentum.
Buy and Sell signals are clearly marked with "BUY" and "SELL" labels.
This strategy combines trend-following and volume-based confirmation for reliable trade entries and exits. Use it for backtesting and refining your trading approach.
Visit my website for more tools and strategies: bybitindicators.com
Happy trading!
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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Disclaimer
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