Parabolic m Trail SX

Parabolic m Trail SX places a short exit order according to a Parabolic calculation.

When a short position is entered, Parabolic m Trail SX generates a stop order at the high of the current bar plus the average true range of the number of bars specified in ATRLength input and multiplied by the value specified in NumATRs input. The parabolic calculations are run on each of the consecutive bars and a new stop order is generated.

Parabolic SAR determines stop and reverse (SAR) points and may be used to define when the position should be reversed and a trade in the opposite direction should be taken. During the calculation, the parabolic curve crosses over and under the price. When the parabolic curve goes below the current prices the market is considered bullish, and when the curve crosses above the current prices, it may indicate a down trend.

This signal generates a short exit only. Use Parabolic m Trail LX for exiting from a long position.

Default Inputs

AccFactorStep (.02) - acceleration factor for calculation of the parabolic.

AccFactorLimit (.2) - limitation of acceleration factor.

ATRLength (3) - number of bars for average true range calculation.

NumATRs (1.5) - multiplier of the average true range used for the stop price calculation.