Brooky PSAR Levels Indicator in MetaTrader 4 – Free-[TFlab]

The Brooky PSAR Levels MT4 indicatoris an upgraded adaptation of the classic Parabolic SAR, created to provide more than basic trend direction. In addition to identifying whether the market is moving upward or downward, it maps dynamic support and resistance areas on the chart. Unlike the standard PSAR, which only plots dots above or below price candles, this advanced tool marks historically important price zones—regions where the market has previously shown strong reactions and where the likelihood of future reversals or breakouts is significantly elevated.

You can download it from this link:

https://cdn.tradingfinder.com/file/5...4-by-tflab.zip

You can also access the MetaTrader 5 version of this Indicator through this page:

https://www.metalsmine.com/thread/13...nical-analysis


For instructions on how to install:

https://www.forexfactory.com/thread/...-in-metatrader



Prop Firm DrawDown Protector : Prop Firm Capital Protection Expert MT4 | Forex Money Management: Forex Trade Management Expert MT4 |ICT Concepts Indicator MT4 | Smart Money Concepts Expert MT4| Smart Money Trap Scanner | Get a free Expert Advisor license via Telegram and WhatsApp


Brooky PSAR Levels Indicator — Key Features

The Brooky PSAR Levels indicator is included in several key MetaTrader 4 categories and provides traders with enhanced tools for analyzing market structure and identifying high-value trading areas.

Indicator Categories

1. Support & Resistance MT4 Indicators
2. Trading Assist MT4 Indicators
3. Levels MT4 Indicators

Supported Platform

1. MetaTrader 4

Recommended Skill Level

1. Intermediate

Indicator Types

1. Breakout MT4 Indicators
2. Reversal MT4 Indicators

Timeframes

1. Multi-Timeframe MT4 Indicators

Trading Style

1. Intraday MT4 Trading

Applicable Markets

1. Forex MT4 Instruments
2. Cryptocurrency MT4 Instruments
3. Commodity Markets MT4
4. Indices Markets MT4
5. Stock and Share Markets MT4
   
   

Brooky PSAR Levels at a Glance

Built on the original Parabolic SAR algorithm, the indicator plots two main types of dynamic price levels, each displayed in a distinct color to help traders easily interpret market conditions.

• Upper PSAR (Resistance Levels)

1. Price reaching these zones often faces renewed selling pressure.
2. These areas frequently act as the origin of reversals or breakout movements.
3. A confirmed breakout above resistance increases the probability of the uptrend extending further.

• Lower PSAR (Support Levels)

1. As price moves toward these zones, buying interest generally strengthens.
2. The market often forms temporary stabilization patterns or bullish reversal signals here.
3. These regions can serve as favorable entry points for long positions.
   
   

With real-time automatic updates, the indicator is highly effective for:

 

1. Evaluating entry opportunities
2. Planning exits
3. Adjusting dynamic stop-loss levels
   
   

Brooky PSAR Levels in an Uptrend

During a rising market—such as on the AUD/NZD pair using the 1-minute timeframe—price approaching the lower PSAR support level may show reduced selling momentum. A constructive reaction, including a bullish reversal pattern or a break of a minor downward trendline, can signal a strong buying opportunity.


Brooky PSAR Levels in a Downtrend

On higher timeframes, such as the RUS2000 index on the 1-hour chart, price moving into a resistance area combined with bearish formations (e.g., reversal candles or structural breakdowns) often indicates weakening bullish sentiment. This behavior increases the probability of a developing downtrend and creates a valid zone for short entries.


Brooky PSAR Levels Indicator Settings

The MetaTrader 4 settings panel offers full customization of the indicator through the following parameters:
• Bars back
Controls how many previous candles the indicator uses for calculation.
• SAR step
Defines the incremental movement applied in the Parabolic SAR formula.
• SAR max
Sets the upper limit of the PSAR value.
• Level style
Determines how the dynamic levels are visually displayed on the chart.
• Price size
Adjusts the font size of the price labels associated with the PSAR levels.
• Lowpsar
An internal parameter responsible for lower (support) PSAR calculations.
• Hipsar
An internal parameter responsible for upper (resistance) PSAR calculations.


Conclusion

The Brooky PSAR Levels indicator is a powerful analytical tool for identifying dynamic support and resistance zones derived from Parabolic SAR logic. By highlighting areas where price is likely to react, it enables traders to recognize potential breakout and reversal points with greater accuracy. When combined with price action techniques, this indicator significantly enhances trading decisions in both bullish and bearish market environments.