Topic: Questions: Using an Indicator's Value as Entry and Exit
Hello Technical Support:
I have four (4) questions -
1) Is possible in either SB or ST, to use an Indicator's value as the Order Entry Point and/or Exit Point?
2) Is it possible to expand the Parabolic SAR Acceleration and Maximum to accept numbers with four (4) decimal places to the right of zero, instead of just two (2)?
3) Can you provide an example of a strategy that uses the Parabolic SAR for the entry, stop and limit. It would look something like this.
= if(High Price intercepts Current PSAR Value from BELOW, "Long")
= if(LowPrice intercepts Current PSAR Value from ABOVE, "Short")
= if(and(Current Position = Long, Low Price intercepts Current PSAR Value from ABOVE, "Exit Position")
= if(and(Current Position = Short, High Price intercepts Current PSAR Value from BELOW, "Exit Position")
[note: the Stop would actually be the Exit, so it does not need to be explicitly encoded as a pending Stop Order]
This is a simple always-in strategy, where the Trader's settings for Acceleration Factor and Extreme Price make the difference between success and failure in the trade.
Lastly, in most trading platforms that I am familiar with, the PSAR Indicator has only two external (Trader defined) inputs: Acceleration Factor and Extreme Price. Some platforms will call them: "Step" and "Maximum." In either case, there will typically be only two manual variables to control the location of the PSAR, relative to the actual price. On the ST version of the PSAR, you show another variable called Increment.
4) What is this Trader defined variable for in relation to the PSAR and what effect does the value have on the shape of the parabola relative to price?
Thank you in advance for your assistance.