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Hi there, I'm wondering if anyone knows how to do this...
The Parabolic SAR (PSAR) seems very useful to me for the kinds of trading strategies I wish to study. It provides pretty nice exits for my entries. The only problem is, PSAR (as far as I know) begins calculating from the beginning of the available data, which means that my entry signal may say to go short on one bar, but the PSAR might still be in a long for 4 more bars before it agrees with my signal, at which point its exit is not going to be very useful to me.
What I envision, is a PSAR that does not calculate until I have a trade signal (long or short). At which point it begins to calculate, and I stay in the trade until it is violated. Then, if on the next bar after the exit signal given by PSAR, I have no trade signal, no PSAR is calculated until again I have a valid trading entry signal from my system.
Does this make sense? Does nobody else think this would be incredibly useful? Does anyone know how to do such a thing? I am unfortunately code-challenegd, so wouldn't nkow where to begin on something like this, but I'm betting that someone out there must've already attempted this and might be able to share the code...
Thanks in advance,
Jonathan
The Parabolic SAR (PSAR) seems very useful to me for the kinds of trading strategies I wish to study. It provides pretty nice exits for my entries. The only problem is, PSAR (as far as I know) begins calculating from the beginning of the available data, which means that my entry signal may say to go short on one bar, but the PSAR might still be in a long for 4 more bars before it agrees with my signal, at which point its exit is not going to be very useful to me.
What I envision, is a PSAR that does not calculate until I have a trade signal (long or short). At which point it begins to calculate, and I stay in the trade until it is violated. Then, if on the next bar after the exit signal given by PSAR, I have no trade signal, no PSAR is calculated until again I have a valid trading entry signal from my system.
Does this make sense? Does nobody else think this would be incredibly useful? Does anyone know how to do such a thing? I am unfortunately code-challenegd, so wouldn't nkow where to begin on something like this, but I'm betting that someone out there must've already attempted this and might be able to share the code...
Thanks in advance,
Jonathan