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Setting up Parabolic Stop and Reversal (PSAR) in MetaTrader 4

This guide shows you how to set up the parabolic SAR in MetaTrader 4.

This guide assumes that you have opened a chart.

 

After reading this tutorial, you should be able to:

  • Add the parabolic SAR and set the parameters of this indicator
  • Change the parameters
  • Remove the parabolic SAR

Add a parabolic SAR and set the parameters of this indicator

  1. Click Insert and move your mouse over Indicators and Trend
  2. Click Parabolic SAR

Setting the common parameters

 

After you have completed the step above, the settings menu appears.

Most indicators can be controlled by several common parameters.

There are two types of parameters:

  • Calculations of the indicator: e.g. the amount of periods used for the parabolic SAR (you do not need to worry too much about this in the beginning)
  • Visuals of an indicator: e.g. how it will look, the colour and thickness of the lines, etc.

Changing parameters at a later time

To change the settings of the indicator directly on the chart at a later date:

  1. Right-click the parabolic SAR (you will have to be exact on the line of the indicator to get the menu seen below)
  2. Choose SAR Properties

The parameter menu appears again where you can change the indicator.

Deleting an indicator

To delete the parabolic SAR:

  1. Right-click the indicator that you want to delete (you will have to be exact on the line of the indicator to get the menu shown below)
  2. Click Delete Indicator

The parabolic SAR disappears from your chart.