GGG SuperTrend SAR

vorgesternThis Pine Script™ implements an indicator called "GGG SuperTrend SAR," which combines two popular technical indicators: SuperTrend and Parabolic SAR (Stop and Reverse). The script is designed to provide signals for potential buy and sell opportunities based on market conditions. Below is a detailed breakdown of how the script functions:

SuperTrend Parameters:
Length: The period used for calculating the SuperTrend indicator (default is 10).
Multiplier: A multiplier applied to the Average True Range (ATR) for the SuperTrend calculation (default is 3.0).
Parabolic SAR Parameters:
PSAR Step: Defines the step size for Parabolic SAR (default is 0.02).
PSAR Increment: Incremental step to adjust the SAR as the trend progresses (default is 0.02).
PSAR Max: The maximum value for the step size to accelerate the SAR (default is 0.2).
Indicator Calculations:
SuperTrend Calculation:

ATR is calculated over the specified period.
The basic upper and lower bands are computed as the average of the high and low prices, adjusted by the ATR multiplied by the multiplier.
The SuperTrend line is calculated as a moving average of these upper and lower bands.
Parabolic SAR Calculation:

The Parabolic SAR is computed using the step, increment, and max parameters to track potential trend reversals.
Plotting:
The SuperTrend line is plotted in red on the chart.
The Parabolic SAR is plotted as blue crosses, indicating possible reversal points.
Buy and Sell Signals:
Buy Signal: Generated when the price crosses above the SuperTrend line, and the price is above the Parabolic SAR.
Sell Signal: Generated when the price crosses below the SuperTrend line, and the price is below the Parabolic SAR.
These signals are displayed on the chart as green "BUY" labels below the bars for buy opportunities and red "SELL" labels above the bars for sell opportunities.

In summary, this script provides a simple and effective strategy to identify trend-following buy and sell signals using the combined logic of the SuperTrend and Parabolic SAR indicators, making it suitable for identifying potential trend reversals in a security's price movement.