Forex Indicator-MACD and Parabolic SAR

This indicator is using MACD and Parabolic SAR.Even it simple but it is working and is successfully used by traders who prefer scalping Forex strategies.

Time Frame:30 min,1-Hour, 4 Hours and Daily Timeframe
Pairs:EUR/USD, GBP/USD, USD/CHF, EUR/JPY, USD/JPY

Indicator: MACD (12,26,9) Parabolic SAR  default setting (0.02,0.2)

Long Entry:When Parabolic SAR give buy signal (starts aligning below the candle) and MACD cross zero line upward

Example: MACD and Parabolic SAR Buy Signal

Short Entry:When Parabolic SAR give sell signal (starts aligning above the candle) and MACD cross zero line downward

Example: MACD and Parabolic SAR Short Signal

Exit: when the MACD bars starts declining prior to the previous or on the formation of the Parabolic SAR on the opposite side.

Try out this indicator,

Happy Trading..