Parabolic SAR Multiple Timeframe levels (TechnoBlooms)

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The Parabolic SAR (Stop and Reverse) is a valuable tool for traders due to its ability to provide clear signals for trend direction and potential reversal points. One of its primary benefits is the ease of use; it visually indicates whether the market is trending up or down, helping traders decide when to buy or sell. The indicator also aids in setting stop-loss orders as it moves with price, offering a dynamic way to manage risk by suggesting when to exit a position if the trend reverses.

Viewing the Parabolic SAR (PSAR) across multiple timeframes offers traders a comprehensive approach to understanding market trends and making strategic decisions. By analyzing the PSAR on shorter timeframes like 1-minute or 5-minute charts, traders can pinpoint precise entry and exit points for quick trades, capitalizing on immediate market movements.


Settings

> User can select 10 different timeframes according to their wish

> User can change Parabolic SAR settings like Start, Increment and Maximum Value

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Phát hành các Ghi chú

This updated script is to provide better understanding about the price movement to the next support and resistance levels, in multi-timeframes.

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Phát hành các Ghi chú

Changed colors for better understanding.