This indicator is a porting to the new Pine scripting language from TradingView, leveraging the old official TradingView's Java-based SAR indicator. The accuracy of their new and current official algorithm is being disputed, behavior changed in february 2020 and there's a fundamental flaw in implementation.
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Alert conditions added for reversals.
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Fixed alert trigger conditions.
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Final testing of alert conditions.
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Low limit for "Max Value" decreased from 0.1 to 0.05.
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Reversals cannot happen on previous SAR == current SAR, this is a high chance of double-top or double-bottom and create a false positive signal. Now reversals can only happen on current SAR greater-than or less-than previous SAR.
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Usability and presentation improvements:
All parameters can move in increments of 0.01 through the increase/decrease buttons
maxValue parameter range now goes from 0.01 to 1.0
Hey a_maxwell! Any chance you could point me towards the formula you are using for this legacy version of the psar? Would really appreciate it. Thank you 👌
a_maxwell
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Hi @Gouws199, there are several variables and if blocks, but some of the main calculated values go like this: