I was playing with PSAR on paper trading acccount. Some of the alerts are spot on, but there are too many false positives that could blow your account. Should PSAR be used in conjunction with other indicators. For others using PSAR, what has been your strategy
Tried, looks better after the fact, doesn't really have enough to trade off I find. Bollinger Bands is where it's at, took me a while to trust and get head around mind.
I've done some backtesting with PSAR and had some positive results when I utilized multi EMAs. Depending if your going long or short just make sure that your Two EMAS are supporting your long or short thesis and also insure that your entry is close to the shorter EMA timeframe that way you don't overpay.
Thanks for the idea, will look into it. What EMA's do you typically use for swing trades and day trades
You could validate the trend on a longer term chart i.e. weekly and then use the indicators above on a daily chart. People just need to be cognizant of support and resistance points when making those trades. In conclusion I do agree and the PSAR is not really part of my trading tool set.