Parabolic SAR Stock Screener

The Parabolic SAR can be used to minimize the risk of losses with its dynamic stop-loss levels that adapt to market conditions . . . It also assists in identifying potential trends and trend reversals, which makes it a valuable tool for those who want to maximize profits

3 minutes

This post focuses on customizable Parabolic SAR factory scans, which can be edited, modified, or rewritten and then scanned using ChartAlert’s native stock screener or technical analysis scanner, namely the Basic Scanner and Advanced Scanner.

Display Parabolic SAR Values

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List symbols
Add Column Parabolic SAR as PSAR
Apply to NSE

This scan computes and displays the Parabolic SAR values for all NSE symbols. The default values for the Step (also known as Acceleration Factor) are set at 0.02, and the Maximum Limit is set at 0.2.

OPTION 1

If you wish to modify the default parameter values, you can do so by specifying your desired values.

List symbols
Add Column PSAR(0.04,0.4) as PSAR
Apply to NSE

OPTION 2

Use the following criteria in situations where symbols are being scanned for a PSAR (Parabolic Stop and Reverse): showing consistent growth over a span of 5 bars.

List symbols where PSAR has been increasing for 5 bars
And PSAR < low

Add Column PSAR

Apply to NSE

Parabolic SAR Buy Signals

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List symbols where PSAR is below Low
And PSAR a bar ago was above High a bar ago

Add Column PSAR

Apply to NSE

This scan is designed to identify symbols where the Parabolic SAR has recently transitioned from being positioned above the price bars to being positioned below them.

By default, the Step (or Acceleration Factor) is set to 0.02 and the Maximum Limit is set to 0.2. If you wish to use different values, you can specify them as parameters.

OPTION 1

In certain cases, the Parabolic SAR may now be touching the price bar after having been positioned above it. To scan for symbols exhibiting this behavior, you can use the “Price is touching” function and modify the scan as outlined below:

List symbols where Price is touching PSAR
And PSAR a bar ago was above High a bar ago

Add Column PSAR

Apply to NSE

Parabolic SAR Sell Signals

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List symbols where PSAR is above High
And PSAR a bar ago was below Low a bar ago

Add Column PSAR

Apply to NSE

This scan is designed to identify symbols where the Parabolic SAR indicator has recently switched from being positioned below the price bars to being positioned above them.

By default, the Step (or Acceleration Factor) value is set to 0.02, and the Maximum Limit value is set to 0.2. If you wish to use different values, you can specify them as parameters.

OPTION 1

In certain cases, the Parabolic SAR may now be touching the Price Bar after being positioned below it for a period of time. To conduct a scan specifically for symbols exhibiting this behavior, you can use the ‘Price is touching’ condition and modify the scan as outlined below:

List symbols where Price is touching PSAR
And PSAR a bar ago was below Low a bar ago

Add Column PSAR

Apply to NSE

For comprehensive insights into the Parabolic SAR indicator, including its calculation methodology, its interpretation, how to use the Parabolic SAR indicator in trading, as well as an exploration of its advantages and limitations as an indicator, click here.

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