Jay Digital Parabolic Spy is a multi timeframe indicator based on the parabolic sar.
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If the parabolic sar is below the price (indicating a buy position), then a green arrow pointing up will be displayed otherwise, a red arrow pointing down will be displayed.
The indicator shows 3 values: Position, pipDifference and SwinG.
The position indicates which direction the parabolic sar is currently in. It will display a green arrow for buy and a red arrow for sell.
Pipifference tells us howfar in pips the price is from the parabolic sar or in other words, how many pips in the oposite direction the parabolic sar will have to move before there is a reversal of the signal.
SwinG is simply the entire length of the candle measured in pips.
Please note that all the values are for the current candles on their respective timeframes.
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[post-title] is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
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How to install [post-title].mq4?
- Download [post-title].mq4
- Copy [post-title].mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
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- Attach to a chart
- Modify settings or press ok
- Indicator [post-title].mq4 is available on your Chart
How to remove [post-title].mq4 from your Metatrader 4 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
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