Can anyone build this for me, I am a complete noob!
I would like an indicator that does this:
Requires the value of a Parabolic SAR set to:
Step .04 Maximum .4
...coupled with the previous bar's high (for future bearish entry) or low (for future bullish entry) data to formulate a user-defined percentage (lets say 50% for the following example) of the distance between the two to create a "stop-loss/possible reverse entry" value. I.E. The PSAR value on the EURUSD 1hour on 06-23-2009 at 23:00 is 1.4099 and the high (since the PSAR is bearish) for the corresponding bar is 1.4076. Upon the open of the next bar, the indicator would calculate the 50% distance of the previous bar to be 11.5 pips from the PSAR value. Therefore the future bullish entry value from a closed out-of-market position until the next calculated bar would be 1.4087. If in an open trade, this would be the newly calculated stop-loss. Each closed tick should re-calculate a new "stop-loss/possible reverse entry" value as the market progresses.
Using this very example, the next bar passed through this value on 6-24-2009 at 00:00 and an entry signal was made.
Another BIG winner was made while I slept this morning (and it's still going right now!):
EURUSD 1hour at 09:00 breached the level of 1.4082 (50% of the distance between the previous bar's PSAR value of 1.4072 low of 1.4091. (indicator would need to round up the 9.5 actual difference to 10 pips away from the PSAR value).
Here's the example chart:
http://farm4.static.flickr.com/3654/...e7117cf1_o.jpg
Any help would be mighty appreciated!
Thanks,
Eric aka Twitch
I would like an indicator that does this:
Requires the value of a Parabolic SAR set to:
Step .04 Maximum .4
...coupled with the previous bar's high (for future bearish entry) or low (for future bullish entry) data to formulate a user-defined percentage (lets say 50% for the following example) of the distance between the two to create a "stop-loss/possible reverse entry" value. I.E. The PSAR value on the EURUSD 1hour on 06-23-2009 at 23:00 is 1.4099 and the high (since the PSAR is bearish) for the corresponding bar is 1.4076. Upon the open of the next bar, the indicator would calculate the 50% distance of the previous bar to be 11.5 pips from the PSAR value. Therefore the future bullish entry value from a closed out-of-market position until the next calculated bar would be 1.4087. If in an open trade, this would be the newly calculated stop-loss. Each closed tick should re-calculate a new "stop-loss/possible reverse entry" value as the market progresses.
Using this very example, the next bar passed through this value on 6-24-2009 at 00:00 and an entry signal was made.
Another BIG winner was made while I slept this morning (and it's still going right now!):
EURUSD 1hour at 09:00 breached the level of 1.4082 (50% of the distance between the previous bar's PSAR value of 1.4072 low of 1.4091. (indicator would need to round up the 9.5 actual difference to 10 pips away from the PSAR value).
Here's the example chart:
http://farm4.static.flickr.com/3654/...e7117cf1_o.jpg
Any help would be mighty appreciated!
Thanks,
Eric aka Twitch
