Parabolic SAR Signals with Fibonacci Entry and Target Levels
Summary
This indicator combines fast and slow Parabolic SAR calculations with price extremes to generate bullish and bearish signals. When price crosses the fast SAR, it records a recent low or high; a qualifying position relative to the slow SAR then triggers a setup. The indicator uses the measured price range to place an entry level at its midpoint, profit targets at Fibonacci extensions of 161.8% and 261.8%, and a stop beyond the range by a configurable point-based distance.
The update adds the second target, switches for displaying entry, stop, and target lines, and separate bullish and bearish alert outputs. Drawn levels remain on the chart for a configurable number of bars. The document gives implementation logic and example alert conditions, but provides no backtest, trade outcomes, asset or timeframe guidance, or evidence that the signals are profitable. The chosen stop distance and SAR settings may need adaptation to the instrument, and the described signal rules alone do not specify a complete risk-managed trading system.
Key ideas
- The indicator detects bullish and bearish reversals using price crossings of a fast Parabolic SAR.
- A slow Parabolic SAR acts as an additional condition before a setup is plotted.
- The measured price range defines a midpoint entry and two Fibonacci extension targets.
- A configurable stop distance and chart display options shape the plotted trade levels.
- Separate signal outputs can be used to create bullish and bearish alerts.
- The document provides no performance testing or guidance on suitable markets and timeframes.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.