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Parabolic Sar Color Alert

Do you want to enter into a forex trend as early as possible? Parabolic SAR Color Alert MT4 Indicator alerts as the price trend shifts from bullish to bearish and vice versa. Identify forex market trend beginning, continuation and end to benefit the most.

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Description

The Parabolic SAR Color Alert MT4 indicator is a modified version of the classic parabolic SAR indicator. It provides sound alerts upon the color change of the indicator. This helps forex traders avoid delayed entry or exit.

Features of Parabolic SAR Color Alert MT4 Indicator

The indicator plots yellow bullish dots and magenta bearish dots on the price chart. In an uptrend the indicator plots yellow dots below the candles, while in a downtrend the magenta dots form above the candlesticks. Consecutive similar color dots indicate the continuation of the current trend. On the other hand, a change in dot color indicates a shift in the trend direction.

So, this indicator shows the beginning of a trend, its direction, continuation of the current trend and end of current trend which commences an opposite trend. Additionally, this indicator provides a message alert upon the dot color change indicating the change in the forex price trend.

Benefits of Parabolic SAR Color Alert MT4 Indicator

The Parabolic Stop and Reverse is beneficial to stop trading in the current trend direction and reverse the trade direction. This indicator is easy to interpret and is beneficial for new and advanced forex traders. Additionally, it works on all intraday chart time frames as well as the daily, weekly and monthly charts. So, it is beneficial to scalpers, short and long-term forex traders.

This indicator is a trend following one. Primarily, traders use it to identify the trend direction. Obviously, it is beneficial to enter a trend at the earliest possible to reap the benefits. This indicator exactly provides that benefit to the forex trend traders using the alert function. Based on the trading alerts, forex traders can shift their trading strategy from bullish to bearish and vice versa.

Indicator Settings Description

AlertsEnabled: Enable alerts.

Step:, Maximum:, Precision: Input for indicator calculation.

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How to Install

How install MT4/5 indicator in the terminal?

To install an MT4/5 indicator in the terminal, follow these steps:

  1. Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.

  2. Open the MT4/5 terminal and click on “File” in the top left corner.

  3. Select “Open Data Folder” from the dropdown menu.

  4. In the window that opens, double-click on the “MQL4/5” folder.

  5. Double-click on the “Indicators” folder.

  6. Drag and drop the indicator file from your computer into the “Indicators” folder.

  7. Close the data folder window and restart the MT4/5 terminal.

  8. The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.

Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.

And if asks to confirm DLL?

If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.

DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.

If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.

It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.

 

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