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Quotex is one of the most popular trading platforms the company offers numerous trend indicators and one of them is Parabolic SAR.
Parabolic SAR is one of the most unique indicators and can give you some great results. In this blog, I will share everything about Parabolic SAR and how you can place good trades with the same.
Understanding Parabolic SAR
Parabolic SAR is one of the unique trend indicators that was developed by J. Welles Wilder Jr., The main aim of this indicator was to help you find the upcoming trends and reversals using a series of dots above or below the price. when the dots are above the price you can say that the price may reverse bearish and vice versa, when the dots are below the price you can say that the price may reverse bullish.
Applying Parabolic SAR on the Quotex trading platform
In order to add Parabolic SAR to the Quotex trading platform. Firstly, you need access to your Quotex account. Next, set your default chart to candlestick and select your desired currency from the currency tab above the page. Next, click on the indicator button and select Parabolic SAR from the indicator list. Lastly, make your desired change changes such as a period or dots colours. once you are done click apply.
How to trade with Parabolic SAR on the Quotex trading platform
There are multiple ways of using Parabolic SAR. However, the two most effective ways are.
Solo: You can easily use Parabolic SAR solely on Quotex. When the Parabolic SAR dots are below the price consider placing a buy trade similarly, when the indicator dots are above the price consider placing a sell trade. Also, make sure to change the period of the indicator based on your trading nature. If you love to trade aggressively reduce the period to 0.001 and increase if you are a swing trader.
Trend Combinator: The second way of using Parabolic SAR is by combining the indicator with other trend indicators like WMA or RSI. For, Instance in WMA, when you have got a buy signal with Parabolic SAR you need to confirm the trend with WMA. (Weighted Moving Average).
Firstly, click the indicator button and select WMA from the indicator menu. Next, set the duration to 15. Now, when the price intersects above the WMA line it signals a bullish trend and vice versa, when the price intersects below the WMA line it signals a bearish trend.