The Advanced Parabolic SAR (ASAR) Forex indicator for Metatrader 5 is trend-following in nature and delivers easy to follow buy & sell signals.
The indicator appears in the main chart as red and blue colored dots that appear above and below the candlesticks.
How to spot market trends with the ASAR indicator?
- The blue colored ASAR dots indicate a bullish trend.
- The red colored ASAR dots indicate a bearish trend.
Please note that the Advanced Parabolic SAR indicator is always active in the market, either with a buy or sell position.
The indicator works for any time frame, or trading instrument and is newbie friendly.
The indicator has the following inputs and parameters: price mode, applied price, start, step, max, filter, and change.
First, familiarize yourself with this technical indicator and test it on a demo account.
It supports all time frames and Forex pairs.
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Chart Example
The following chart shows what the Advanced Parabolic SAR indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Advanced Parabolic SAR Indicator?
Find a simple trading example below:
Buy Signal
- A buy signal is given when the first blue colored ASAR dot is displayed on the chart.
- Open a buy order and place your stop loss below the blue colored ASAR stop line.
- Close the buy trade for a reward to risk ratio of at least 1.5, or wait for a sell signal.
Sell Signal
- A sell signal is given when the first red colored ASAR dot is displayed on the chart.
- Open a sell order and place your stop loss above the red colored ASAR stop line.
- Close the sell trade for a reward to risk ratio of at least 1.5, or wait for a buy signal.
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Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the ASAR.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration
