This paper presents the results of quantitative performance evaluation of an authors' new parabolic sliding mode filter, which is for removing noise from signals in robotics and mechatronics applications, based on the frequency and time domain characteristics. Based on the evaluation results, the paper presents selection guidelines of two parameters of the filter. The evaluation results show that, in the frequency domain, the noise removing capability of the filter is almost the same as that of the second-order Butterworth low-pass filter (2-LPF), but its phase lag is smaller (maximum 150 degree) than that of 2-LPF (maximum 180 degree). Moreover, the filter produces smaller phase lag than a conventional parabolic sliding mode filter with appropriate selection of the parameters. In the time domain, the filter produces smaller overshoot than 2-LPF and the conventional one, while maintaining short transient time, by using an appropriately selected parameter. The presented parameter selection guidelines state that the values of the parameters should be chosen according to some estimated characteristics of the input and some desired characteristics of the output. The effectiveness of the filter and the presented guidelines is validated through numerical examples and their application to a closed-loop, force control of a robot manipulator.