Brooky Psar Levels - MetaTrader 4 Script | Forex Indicators Download - MT4/MT5 Resources

This indicator is a new and improved version of the original Brooky Psar Levels indicator.

Additional levels missing from the original version have been added, and the psar settings are optimized specifically for H1 and H4.

The main goal of this indicator is to try to find confluence points of previous PSAR transitions and to find areas of potential reversal or re-evaluation by plotting these levels

transaction. It can be used to trail a trailing stop trend on previous levels on a smaller time frame or on a drawn psar, although psar trails usually leave a lot of traces on the table.

It provides a simple yet effective way to plot support and resistance levels based on consistent logic so that you can find trades against levels using your favorite indicators.

It is beneficial to run indicators on H1 and H4 and make judgments based on both time frames.

The attached chart is a great example of how two converging areas play out in large EURUSD shorts. After establishing the second highest level at 1.32909, there was a minor correction and then a decline.

This retracement is very typical and often leads to a strong breakout or trend reversal. enjoy.

Attachment download

📎 Brooky_Psar_Levels_V2.mq4 (7.94 KB)

Source: MQL5 #10971