Support Resistance Psar Levels Metatrader 4 Indicator
This special indicator plots support and resistance dots on the charts. It’s based on the ParabolicSar (PSAR) indicator and can be used to follow the hourly and 4 hour trend (recommended time frame’s). It also offers a very simply method of moving trailing stops, i.e., 1 pip above the orange dots or 1 pip below the blue dots.
Up Trend: Blue dots plotted below the market price. Look for buy signals.
Down Trend: Orange dots plotted above the market price. Look for sell signals.
Configurable Indicator Options
bars_back, sar_step, sar_max, price_size,…
EUR/USD 4 Hour Chart Example