Double Parabolic MTF Histo

Parabolic SAR is one of the most popular indicators allowing you to determine in a timely manner the trend reversal, get an early entry point and accurately define the place of profit taking.

Parabolic SAR is very efficient in case of a trendy market but often gives false signals during a flat. In order to sort such signals out, it is possible to use the same indicator on higher timeframes. This eliminates the main drawback of the indicator during a flat, while retaining its advantage of early entry in the direction of a trend.

Double Parabolic MTF Histo implements this idea and combines two timeframes on a single Parabolic chart. The higher timeframe Parabolic defines the trend, while the lower timeframe one searches for the market entry point in trend direction.

You can test the indicator's demo version here.

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