Bodger SAR Method | Foreign exchange indicator download- MT4/MT5 resources
Well, I'm not sure yet if this is a "method" because I haven't used it at all - not even in a demo account. But I stumbled upon this tonight and I figured instead of spending a few weeks/months testing this privately I'd rather make it available to the forum to see if I'm missing any obvious landmines.
This method only utilizes the basic price chart and the Parabolic SAR on multiple time frames. Multiple time frames are key to the whole thing. I've been trying the TEB MTF method and unfortunately, I'm not getting the same positive results. I'm sure I'm doing something wrong, but my consternation made me consider other multi-time frame alternatives tonight and this is what I came up with.
Create a basic price chart using bars or candlesticks (whichever you like best) and place the Parabolic SAR indicator on top of it. Start your analysis with the 4-hour chart. I understand this may work for other timeframes, but I'm using the 4 hour timeframe for preliminary analysis.
After setting up the chart, close each bar to see if you have a new direction for the SAR indicator. For example, you might see a long list of positive SAR indicators (meaning SAR points are below the price bar), so you are looking for the bar where the first SAR point is above the price bar. You will open a position at the closing price of the first bar showing the spot reversal SAR.
This method only utilizes the basic price chart and the Parabolic SAR on multiple time frames. Multiple time frames are key to the whole thing. I've been trying the TEB MTF method and unfortunately, I'm not getting the same positive results. I'm sure I'm doing something wrong, but my consternation made me consider other multi-time frame alternatives tonight and this is what I came up with.
Create a basic price chart using bars or candlesticks (whichever you like best) and place the Parabolic SAR indicator on top of it. Start your analysis with the 4-hour chart. I understand this may work for other timeframes, but I'm using the 4 hour timeframe for preliminary analysis.
After setting up the chart, close each bar to see if you have a new direction for the SAR indicator. For example, you might see a long list of positive SAR indicators (meaning SAR points are below the price bar), so you are looking for the bar where the first SAR point is above the price bar. You will open a position at the closing price of the first bar showing the spot reversal SAR.
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