ADR/AWR/AMR Average Daily+Weekly+Monthly Range[Traders Reality]Advanced ADR/AWR/AMR indicator created for Traders Reality community, as well as the greater trading community.
Thanks to the TR community discord guys: infernix, peshocore and xtech5192
Everything is modular and can be turned on/off, including a customisable table showing daily/weekly/monthly average pips/dollars.
If you just want the average daily range lines for example, you can just disable everything else. You can choose how many days to look back; as well as for weeks or months.
Check out Traders Reality on YouTube if you want to see this implemented as part of Tino's strategy that utilizes market manipulation, imbalances, times of day etc.
Price regularly reverses from ADR, making it one of the few highly valuable indicators in price action/smart money trading.
在腳本中搜尋"daily"
RD Key Levels (Weekly, Daily, Previous vWAP)The RexDog Key Levels indicator plots the weekly open, daily open, and the previous day vWAP close.
These are all critical price levels (zones) to know when trading any market or instrument. These areas are also high probability reaction areas that you can trade using simple confirmation trading patterns.
First, I'll cover an overview of the indicator then I'll share general usage tips.
Weekly Open - default is white/orange. White is when price is above the weekly open. Orange is when price is below the weekly open.
Weekly High/Low - there are options to turn on the weekly high and lows. Default plot is circles. Green is the high. Red is the low.
Daily Open - default is green/red. Green is when price is above the daily open. Red is when price is below the daily open.
Previous vWAPs - aqua single lines. These are the closing price of the daily vWAPs.
Top Indicators - The triangles at the top of the chart signify is price is currently above or below the weekly open. This is helpful on lower timeframe charts (5m, 15m) to get a quick indication when price is far extended beyond the weekly open. Green triangle = above weekly open. Red triangle = below weekly open.
General Usage
Each one of these levels are important levels markets look use for continuation or failure of momentum and bias. I also find it extremely helpful to think of these levels as magnets, dual magnets. They both attract and repel price at the same time. Now you might say, how is that helpful to have opposing views at the same time? Be indifferent to direction, create your own rules on when these price zones repel or attract price, I have my own.
Here's the easiest way to use these price levels.
As price approaches one of these levels to expect a reaction. A reaction is price is going in one direction and price hits a price level zone and reacts in the opposite direction.
These are price zones, sometimes you will see a reaction right at the price but visualize these areas as zones of reaction.
A high percentage of the time when price approaches these level zones there will be a reaction. So trade the reaction .
How do you do that?
Simple. Trade patterns that repeat. I have 3 solid patterns I trade around these key levels:
The first pattern is early entry with precise scale in rules and a very effective protective stop loss placement.
The second pattern is wait for confirmation that the level holds. This requires more patience and for you to fully trust the chart. The benefit of this pattern is with confirmation you have even more precise stop placement.
There is a bonus third pattern I trade around these levels. I call this the confirmation and bluff entry. It's a combination of both of the patterns above. You wait for confirmation but on any pull back you call the bluff on the market and enter on key test. Trade management here is critical. In addition to the pattern you trade you should have a series of failure patterns that tell you to get out of the trade, I use 2 primary failure patterns.
I trade all markets, same system, same rules, so I'll show a few examples.
Usually I start with Bitcoin but let's start with equities:
BA - Boeing - 8 Trades
Here we see weekly low patterns, previous week low test, vwAP hold patterns, day magnets and day holding. Then 2 week failures and a double hold pattern.
These are all straightforward trades to execute following really simple patterns.
BTCUSD Previous vWAP and Day Open Trades
We see here on the circle areas both daily open and previous day vWAP zone tests. Within this chart are all 3 highly effective patterns I trade.
SPY - 7 High Probability Trades
Here we see a pDay vWAP mixed with a daily failure. Next a daily retest, then a pDay vWAP failure, then a vWAP capture and test. Then a double weekly failure test (great trade there) and finally a daily test.
I could provide more examples but most are just derivatives of the above examples.
Sw1tchFX - Average Daily RangeDESCRIPTION AND OVERVIEW
The Average Daily Range is a measure of volatility (typically across 5 days for the FX markets). I originally saw this being used in a trading system called ANTSSYS by Daryll Guppy and some other developers. I couldn't find it anywhere so I decided to build it from scratch.
What this does is allow you to measure volatility across various FX assets (I will apply other asset classes in the future that this is applicable to i.e. Crypto, Commodities, Blue Chip Stocks), and set realistic targets based off that volatility. Overall, this makes much more sense to me in the FX markets rather than support and resistance lines because it's based off the actual movement of the asset class. Market research shows that an asset class has a 80-85% chance to reach 75% of it's Average Daily Range (ADR).
Let's take a look at the daily ADR on the GBPNZD 15m chart. Notice how the values of the ADR act as real support and resistance based off the volatility of the asset. In this case, price did not quite reach the 75% ADR target.
Let's take a look at another example on EURNZD 15m chart. In this case, price hit the 75% target.
It's important to note that these levels do not bound the price. The probability that price exceeds it's 75% ADR is fairly low, but not impossible. Especially during important news events. Let's look at the recent USDCHF 15m chart for example.
Additionally, you can use these values to measure longer term movements (Weekly, and Monthly)
Here is a weekly view:
And a monthly view:
HOW I USE THIS
I use this in conjunction with some other indicators I've developed. Typically, I use range bars since I only care about price, not time. Additionally, averages are smoother when time is not taken into account and only price.
HOW THE CANDLE OPEN AND CLOSE IS CALCULATED
This is done based off of your own specific time zone and from the daily candle. So for me on PST, the daily candle will close at 1400. Once closed, a new ADR value is automatically calculated and added to the chart. There is an option to show past ADR values if you would like to see them or conduct additional research.
Multiple Daily SMA EMA on Intra 1min 5min 15min ChartsThis script is helping you auto plot daily SMA EMA and extensions when you are looking at intraday charts. The script is customizable where user can select which ever levels they are interested in viewing. These daily lines act as support and resistance levels for intraday
The green line represent 20 EMA Daily
The yellow line represent 50 SMA Daily
The olive line represent 200 SMA Daily
The red line is upper Bollinger Band Daily
The black line is lower Bollinger Band Daily
To help you understand which lines are what I would recommend you add this indicator and select "D" timeframe and then see which lines you would like to view for your 1min chart or 5 min chart you can customize from the setting options which plot color you would like to view.
4C Daily Levels Suite + Premarket High/LowThis '4C Daily Levels Suite + Premarket High/Low' indicator is a clean way to automatically plot important daily levels including:
Prior Day High
Prior Day Low
Prior Day Close
50% level between Prior High/Low
Today's Open
Today's Premarket Low+High
This Daily Levels indicator is unique in its ability to:
-Plot all of the daily level PLUS premarket high/low levels (extended hours must be turned ON)
-Can hide past days levels, only plotting levels on the current day, to keep chart cleaner
-Can extend line levels right or fullscreen
-Plots the level price at each level on the chart
-Can show/hide price levels labels
-Can add supplemental premarket levels plot to show levels being formed during the premarket time period
-Coded with line.new vs plot so dashed lines are available as a style
-Automatically hides the indicator if the timeframe selected is Daily or greater
SEE SCREENSHOT EXAMPLES BELOW
Default mode, with extended hours showing:
With supplemental premarket plot showing:
Default mode without extended hours showing:
Showing past day’s levels
Extend lines to fullscreen
Some parts of this code were adapted from 'pd Levels' by CryptoCurl
Average Daily Range Fibonacci LevelsThe Average Daily Range is a simple concept, calculated as the difference between daily highs and lows averaged over some period. This indicator uses that range in conjunction with Fibonacci ratios to create zones centered on the day's open that tends to act as areas of support and resistance.
The thicker White lines are the ADR levels; all other lines are the same value adjusted by the various Fibonacci values.
A simpler version of this concept can be seen in my other script, Average Daily Range Zones, which does not include the Fibonacci ratio zones.
Thanks to @Hank Hill for the original idea and TV for the feedback and support on the use of the security() function.
Also thanks to @GoldenCross for the Fibonacci obsession.
Naked - Daily Weekly MonthlyUser request for Naked Daily Weekly Monthly Opens.
This indicator plots the Daily Weekly Opens (the day after day after creation), they then will stay on the chart until a candle close is completed on the other side of the plot.
In the above chart picture you can see how previous monthly and daily opens have acted as support and resistance.
Thanks go to:
StackOverFlow Bjorn Mistiaen
Customizable Daily EMAs (up to 8)This indicator provides you with up to 8 different EMAs that are customizable.
You can specify how many EMAs you want on the chart (up to a maximum of 8), as well as the length and color of each EMA. In addition, the resolution of all EMAs can also be customized - by default all EMAs follow the Daily timeframe but you could set this to any timeframe you want or you could choose for it to follow the timeframe chart as most other EMA Indicators do.
The reason for creating this indicator is because I was looking for Daily EMAs, but wanted to view the chart in a different time period without the EMA lines themselves changing. In addition, I wanted to view ample EMAs at once, and have the ability to change their length as I see fit.
You can see this demonstrated on the 4-hour chart above. Despite the chart being a 4 hourly chart, the EMAs are Daily EMAs.
In the example above all 8 EMAs have been activated, but you could turn any of these off to suit your own preferences.
The default EMAs are set to the following: 20, 50, 100, 200, 5, 9, 13, 26.
The First 4 are ideal for longer-term targets, while the smaller timeframes are more suited to short-term trading targets.
I have made this script Open-source for anybody to view, copy and modify if they need.
Weekly/Daily/Hourly/Minutes Colored Background IntervalsThis is my "Weekly/Daily/Hourly/Minutes Colored Background Intervals" assistant. I wouldn't describe it as an indicator, it just exhibits coloration of referenced periods of time with bgcolor() in Pine. With the arrival of 2021, I pondered the necessity of needing a visualization pre-2021 to visually recognize periodicity of market movements by the week, day, hour, or an adjustable period of minutes. While this script is simply generic, I hope you may find useful in your endeavors as a member on TradingView.
Explaining the script's usage, the "Minutes" input can be adjusted from anywhere between 5-55 minutes for only intraday. This can be modified to accommodate 90 minutes (1.5hrs) or any other minutes period desirable by tweaking certain numbers up to 1440. Minutes and Hourly backgrounds are disabled by default for most daily traders. Changing the input() code to `true` will provide them on by default when the script loads, if you choose that route. Each time periods background color is enable/disable capable. All of the colors are easily adjustable to any combination you can ponder for your visual acuity with the color swatch provided by input(type=input.color). The coloring can be "swapped" by input() depending on how you wish to start and end the day visually. I thought this would come in handy. The weekly background can have different starting points, whether it be Sunday, Monday, or any other day such as Friday for example.
The entire script's contents isn't intended for complete re-use as is for publicly published scripts. It's more along the lines of code that could be used to personally modify indicators you have, depending on the time frames you may actually be trading on. The code is basically modular, so you can use bits and pieces of it in your personally modified Pine Editor scripts that you wish to customize for yourself. I will say that the isXxx() functions are completely reusable in any script without any need for author permission inquiries from me, as easy as copy and paste. Those may come in handy for many folks. If you find them useful in certain circumstances, use isXxx() functions as you please. Day of the week detection by functions will have applications beyond my current intended use for them.
Of notable mention, this is a miniature lesson by example of how the new input(type=input.color) may be used. I'm also using `var` inside functions to aid in computational efficiency of the script runtime. The colors are permanently stored at the very beginning of the scripts operation inside the function and just reused from that point onward. Its a rare use case, but well suited for this scripts intention. Once again I have demonstrated the "Power of Pine" for developers of any experience level to learn from via code elegance.
When available time provides itself, I will consider your inquiries, thoughts, and concepts presented below in the comments section, should you have any questions or comments regarding this indicator. When my indicators achieve more prevalent use by TV members , I may implement more ideas when they present themselves as worthy additions. Have a profitable future everyone!
COVID-19: Daily changeNew daily infections (daily change) of COVID-19.
The chart shows new daily cases across the entire planet, the US, EU (de+fr+it+es only) and a small country (RO) that does not matter to anybody but me. You can show/hide different country in Settings.
Select "COVID-19: CONFIRMED" data in main chart and add the indicator.
Custom Time ranges. Daily price ranges.Addition to previous time range script, now containing daily ranges. You can select a day of the week, and have it show the high, low, mid, and open of that day.
For the time bands:
Monday = 2
Tuesday = 3
Wednesday = 4
Thursday = 5
Friday = 6
Saturday = 7
Sunday = 1
Example 1:
1500-1800:2
This will colour the background between 3pm and 6pm on Mondays.
Example 2:
0000-0600:247
This will colour the background between midnight and 6am on Mondays, Wednesdays, and Saturdays.
For the Daily price ranges:
Just select the tick-box forthe day, and then the price levels you'd like to see.
I want to add specific weekly levels to this, for example: week 06 of year 2020, but I've not figured out how to do it yet. If anyone knows, I'd appreciate it if you let me know. I'll then update this script.
As always, any questions you may have, please leave in comments below and I'll respond when I have time.
If you notice anything good with this indicator, let me know. We are all in this to make money after all! ;)
Dot indicator - Daily candle opened above the daily EMA baseline
//@version=3
//Written by David Carruthers
//Objective
//This is to support scanning the market to check if the daily candle opened above the daily EMA baseline for a selected pair
//This can be done in some measure by using trading view's screening tools
//However it would be useful, if someone references a pair, to instantly see if that pair opened above the daily baseline regardless of what resolution you are in
//This script, works out a green dot if the pairs daily candle opened above the daily EMA baseline, and a red dot if it didn't
//It then displays a green or red dot on the open for the last candle you are looking at regardless of resolution
//This saves jumping back and forth between the daily resolution and current resolution
Note please excuse my Pine scripting I am new to it :-)
Weekly/Daily Cross & Bias ConfirmationThis indicator plots the weekly and daily open in addition to a current close price line.
It also signals when price closes above or below the daily and weekly opens.
Also, the bull/bear bias is painted on this indicator as well.
Black is the weekly open
Silver is the daily open
Weekly is default black arrows. Up is going above open, down is going below
Daily is default aqua arrows. Up is going above, down is going below
Average Daily Range - without open barBasic ADR-indicator that is showing the daily range on lower timeframes as well, without using the current open daily bar for calculation.
Also plots as line in a separate indicator window. Updates displayed value when hovering over the candles on the chart to see historical Numbers.
Auto Daily Fib Levels R2 by JustUncleLThis study is a variation of my "Automatic Daily Fibonnacci" indicator. This variation automatically draw Fibonacci Pivot levels (or optionally Classic Pivots) based on the previous day's highest and lowest points. The HLC3 is used as the default Daily Pivot level.
Unlike the "Automatic Daily Fibonnacci", this indicator does not redraw/update levels on current day even if the price goes past the R3/S3 levels.
Timeframe: is just a text string and is not checked, so needs to be a valid resolution eg: 60, 120, 240, 360, 480, 720, 1D, 1W, 1M, 2D, 2W, 3M
Pivot LEVELS:
Green = Pivot and Pivot Zone
Blue = R1,S1 Levels and Zone
Red = R2,S2 Levels and Zone
Black = R3,S3 Levels
Open Close Daily LineThis will place circles on your chart for the opening daily price. If price is above, the circles are green. If price is below, the circles are red. I wanted to be able to see the opening price a bit easier while in smaller time frames.
I decided to add the previous daily closing line to the original script. Basically looking for good support / resistance
Daily Asian RangeDaily Asian Range Indicator
This indicator is an enhanced version inspired by @toodegrees' "ICT Friday's Asian Range" indicator. While maintaining the core concepts, this version expands functionality for daily analysis and adds comprehensive customization options.
### Overview
The Asian Range indicator identifies and visualizes potential liquidity areas based on price action during the Asian session (8:00 PM - 12:00 AM ET). It plots both body and wick ranges along with multiple standard deviation levels that can serve as potential price targets or areas of interest.
### Features
- Flexible Display Options
- Choose between Body, Wick, or Both for range boxes and deviation lines
- Customizable colors, styles, and borders for all visual elements
- Historical sessions display (0-20 previous sessions)
- Advanced Standard Deviation Levels
- Multiple deviation multipliers (1.0, 1.5, 2.0, 2.3, 3.5)
- Separate visualization for body and wick-based deviations
- Clear labeling system for easy identification
- Precise Time Management
- Asian session: 8:00 PM - 12:00 AM ET
- Deviation lines extend through the following trading day
- Proper timezone handling for accuracy
### Usage
- Works on timeframes from 1 to 15 minutes
- Use the range boxes to identify key price levels from the Asian session
- Standard deviation levels can serve as potential targets or areas of interest
- Combine with other indicators for enhanced analysis
### Credits
Original concept and base implementation by @toodegrees
Enhanced and expanded by @Omarqqq
### Disclaimer
This indicator is for educational and informational purposes only. Always conduct your own analysis and use proper risk management.
Daily Liquidity Peaks and Troughs [ST]Daily Liquidity Peaks and Troughs
Description in English:
This indicator identifies peaks and troughs of highest liquidity on a daily timeframe by analyzing volume data. It helps traders visualize key points of high buying or selling pressure, which could indicate potential reversal or continuation areas.
Detailed Explanation:
Configuration:
Lookback Length: This input defines the period over which the highest high and lowest low are calculated. The default value is 14. This means the script will look at the past 14 bars to determine if the current high or low is a pivot point.
Volume Threshold Multiplier: This input defines the multiplier for the average volume. For example, a multiplier of 1.5 means the volume needs to be 1.5 times the average volume to be considered a significant peak or trough.
Peak Color: This input sets the color for liquidity peaks. The default color is red.
Trough Color: This input sets the color for liquidity troughs. The default color is green.
Volume Calculation:
Average Volume: The script calculates the simple moving average (SMA) of the volume over the lookback period. This helps to identify periods of significantly higher volume.
Volume Threshold: The threshold is determined by multiplying the average volume by the volume threshold multiplier. Only volumes exceeding this threshold are considered significant.
Identifying Peaks and Troughs:
Liquidity Peak: A peak is identified when the current high is the highest high over the lookback period and the current volume exceeds the volume threshold. This indicates a potential area of strong selling pressure.
Liquidity Trough: A trough is identified when the current low is the lowest low over the lookback period and the current volume exceeds the volume threshold. This indicates a potential area of strong buying pressure.
These peaks and troughs are marked on the chart with labels and shapes for easy visualization.
Plotting Peaks and Troughs:
Labels: The script uses labels to mark peaks and troughs on the chart. Peaks are marked with a red label and troughs with a green label.
Shapes: The script plots triangles above peaks and below troughs to highlight these areas visually.
Indicator Benefits:
Liquidity Identification: Helps traders identify key areas of high liquidity, indicating strong buying or selling pressure.
Visual Cues: Provides clear visual signals for potential reversal or continuation points, aiding in making informed trading decisions.
Customizable Parameters: Allows traders to adjust the lookback length and volume threshold to suit different trading strategies and market conditions.
Justification of Component Combination:
Peaks and Troughs Identification: Combining pivot points with volume analysis provides a robust method to identify significant liquidity areas. This helps in detecting potential market reversals or continuations.
Volume Analysis: Utilizing average volume and volume threshold ensures that only significant volume spikes are considered, enhancing the accuracy of identified peaks and troughs.
How Components Work Together:
The script first calculates the average volume over the specified lookback period.
It then checks each bar to see if it qualifies as a liquidity peak or trough based on the highest high, lowest low, and volume threshold.
When a peak or trough is identified, it is marked on the chart with a label and a shape, providing clear visual cues for traders.
Título: Picos e Fundos de Liquidez Diários
Descrição em Português:
Este indicador identifica picos e fundos de maior liquidez no gráfico diário, analisando os dados de volume. Ele ajuda os traders a visualizar pontos-chave de alta pressão de compra ou venda, o que pode indicar áreas potenciais de reversão ou continuação.
Explicação Detalhada:
Configuração:
Comprimento de Retrocesso: Este input define o período sobre o qual a máxima e mínima são calculadas. O valor padrão é 14. Isso significa que o script analisará os últimos 14 candles para determinar se a máxima ou mínima atual é um ponto de pivô.
Multiplicador de Limite de Volume: Este input define o multiplicador para o volume médio. Por exemplo, um multiplicador de 1.5 significa que o volume precisa ser 1.5 vezes o volume médio para ser considerado um pico ou fundo significativo.
Cor do Pico: Este input define a cor para os picos de liquidez. A cor padrão é vermelha.
Cor do Fundo: Este input define a cor para os fundos de liquidez. A cor padrão é verde.
Cálculo do Volume:
Volume Médio: O script calcula a média móvel simples (SMA) do volume ao longo do período de retrocesso. Isso ajuda a identificar períodos de volume significativamente mais alto.
Limite de Volume: O limite é determinado multiplicando o volume médio pelo multiplicador de limite de volume. Apenas volumes que excedem esse limite são considerados significativos.
Identificação de Picos e Fundos:
Pico de Liquidez: Um pico é identificado quando a máxima atual é a máxima mais alta no período de retrocesso e o volume atual excede o limite de volume. Isso indica uma potencial área de forte pressão de venda.
Fundo de Liquidez: Um fundo é identificado quando a mínima atual é a mínima mais baixa no período de retrocesso e o volume atual excede o limite de volume. Isso indica uma potencial área de forte pressão de compra.
Esses picos e fundos são marcados no gráfico com etiquetas e formas para fácil visualização.
Plotagem de Picos e Fundos:
Etiquetas: O script usa etiquetas para marcar picos e fundos no gráfico. Os picos são marcados com uma etiqueta vermelha e os fundos com uma etiqueta verde.
Formas: O script plota triângulos acima dos picos e abaixo dos fundos para destacar essas áreas visualmente.
Benefícios do Indicador:
Identificação de Liquidez: Ajuda os traders a identificar áreas-chave de alta liquidez, indicando forte pressão de compra ou venda.
Cues Visuais: Fornece sinais visuais claros para pontos potenciais de reversão ou continuação, auxiliando na tomada de decisões informadas.
Parâmetros Personalizáveis: Permite que os traders ajustem o comprimento de retrocesso e o limite de volume para se adequar a diferentes estratégias de negociação e condições de mercado.
Justificação da Combinação de Componentes:
Identificação de Picos e Fundos: A combinação de pontos de pivô com análise de volume fornece um método robusto para identificar áreas significativas de liquidez. Isso ajuda na detecção de potenciais reversões ou continuações de mercado.
Análise de Volume: Utilizar o volume médio e o limite de volume garante que apenas picos de volume significativos sejam considerados, aumentando a precisão dos picos e fundos identificados.
Como os Componentes Funcionam Juntos:
O script primeiro calcula o volume médio ao longo do período especificado de retrocesso.
Em seguida, verifica cada barra para ver se ela se qualifica como um pico ou fundo de liquidez com base
Know your Monthly, Weekly, Daily LevelsThis script will show monthly, weekly and daily (with or without pre market) levels on your intraday chart. You can chose what values of the corresponding candles (high, low, close) should be included.
Please consider following limitations:
1. Maximum of 500 drawing objects per chart
To make sure the most relevant levels are shown, values are sorted based on the latest close value before levels > 500 are cut off.
2. Lookback history
The max lookback history is limited by the currently selected timeframe. E.g. on a 5min timeframe, 20000 bars (Premium Plan) result in approx. 5 months of lookback period, meaning you may want to have a 30 min or higher chart open to get a complete picture of levels, while trading on a lower timeframe.
High/Low/Open/Close Daily, Weekly, Monthly Line
I wrote this for the purpose of saving time while marking up charts by automating the process of drawing and labeling lines at areas of interest on larger
timeframes while still having the option to change the style and size of the lines and labels to adjust for any timeframe and avoid a messy chart.
I also used this as an exercise in menu organization giving users every imaginable option and producing clean readable code.
- This indicator draws a line on the Daily, Weekly, and Monthly bar at the High, Low, Open and Close of each bar as price
tends to react when revisiting these areas.
- Each set of bars has an optional identifying label with its own color set that can be shown with or without the lines
price value, and has drop down menus for size and style of each set of labels.
- Each set of lines has inputs for line/text color, line width and style, and can be hidden if the user doesn't have the need for any particular timeframe.
- Lines and Labels with delete when a new line is created.
- I recommend going into Chart Settings/Status Line and turning off indicator arguments OR moving the script to the top
of the indicator list to avoid an obstructed chart view with this indicators arguments. When Pine allows, I will update it to hide them.
Contains some public domain code from T.V. manuals and tutorial for creating drop down input menus for options.
/ ~For My Pal Jittery~
~ Who likes his clean chart and custom colors~
Daily SMAs (10,50,100,200) by NVenti- Daily simple moving averages
- Data table displaying distance from simple moving averages
Parabolic SAR Swing strategy GBP JPY Daily timeframeToday I bring you a new strategy thats made of parabolic sar. It has optmized values for GBPJPY Daily timeframe chart.
It also has a time period selection, in order to see how it behave between selected years.
The strategy behind it is simple :
We have an uptrend , (the psar is below our candles) we go long. We exit when our candle crosses the psar value.
The same applies for downtrend(the psar is above our candles), where we go short. We exit when our candle cross the psar value.
Among the basic indicators, it looks like PSAR is one of the best canditates for swing trading.
If you have any questions, please let me know.