OPEN-SOURCE SCRIPT
Updated Peterbolic SAR - Colorbar
Indicator with buy/sell alerts for setup/trigger conditions
Built upon Peterbolic SAR current version as of publishing
Built upon Peterbolic SAR current version as of publishing
Release Notes
Forgot you have to manually calculate the Heiken Ashi candle values to get the proper signals on normal candles for this oneRelease Notes
Improved the way the script calculates the plot and what colors to useFixed the alerts to use the original signals that the plot is draw from so no mishaps occur (Pine script and/or Tradingview can get touchy about how you set your alert conditions)
Added a blue indicator line for if we're considered in an uptrend or not based on the current indicator levels
You can usually tell based on the previous values/colors but it's easier to spot immediately at any point when viewing a chart
Release Notes
Add option to use Heiken Ashi values (or not) instead of hard setting them, results can vary depending on different time frames and this should help with more strategiesRelease Notes
Added Bolinger Band Normalizer value to increase/reduce the offset of order placement based on the volatility at that point in time.Changed the blue line to purple and multiplied it with the BBand Average value to give a visual representation of how much volatility is going on inside the indicator.
The spikes on the orange line will also be larger when the volatility is higher in the same way the purple line does
Release Notes
Offset was not calculating as needed due to round() going to 0 for all values <0.5Setup so 0.5 should be the default offset from a setup that hits a trigger, because trigger candles have to EXCEED the setup candles in the direction of the trend
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.