About the Parabolic SAR
The Parabolic SAR (parabolic stop and reverse) Indicator was devised by J. Welles Wilder, Jr., to find potential reversals in the market direction. He draws points to the chart, which show the support and resistance price levels. He is included in Metatrader 4 and 5. The default settings are: Step 0.02, Maximum 0.2.
Trade logic of the this forex robot
The Parabolic SAR EA is a forex robot which uses the P-SAR support and resistance levels to enter a trade. A buy signal is generated if the price breaks through the resistance level and a sell signal is generated if the price beaks trought the support level. The advanced version has a second optional Parabolic SAR indicator as trend filter.
As default the EA trades only on a new opening of a candle. If you do not want to wait for a candle to be closed, you can switch the TradeOnNewBar function to false. The EA then enters a trade immediately if there is a break trought.
In the sideway market movement you may want to open a Sell position where actually a Buy position should open and the other way around. You can do this by setting the InverseStrategy function to true.
The advanced EA includes additionally SpreadFilter which filter out large price differentials in a high volatile market situation. He also includes a TrailingStop and a BreakEven function to secure your current profits. A Parabilic SAR trend filter is also included to determine the current market direction.
Parameters for the Expert Advisor
Timeframe = The timeframe on which the EA should work regardless what timeframe your chart is set to. (Default is PERIOD_CURRENT )
Step = Stop increment (default 0.02)
Maximum value = Maximum stop value (0.2)
All versions have variable Magic Number, Take Profit, Stop Loss, Lot Size and Slippage.
|Trade on new Bar|
|P-SAR Trend Filter|
|Trade max. once per Bar|
|PSAR Trailing Stop|
|Reverse on opposite signal|
MT4 Basic v1.05
MT5 Basic v1.01
MT4 Advanced v1.05
MT5 Advanced v1.01
MT4 Pro v1.04
Jan 13, 2016:
Minor updates and fixes in all MT4 versions
Nov 24, 2015:
fixed: PSAR did show the filter if not used after a backtest (MT4 Advanced & MT4 Pro)
added: A PSAR Trailing Stop (MT4 Pro)
Oct 05, 2015:
Bugfix: Fixed “array out of range” after changing settings in all MT4 versions
Oct 01, 2015:
Added “Reverse on opposite Signal” to MT4 Pro version
Sep 24, 2015:
Initial release MT4 Pro
Apr 11, 2015:
Some improvements in all MT4 versions Added “Max once per Bar” function to all MT4 Advanced and Pro versions
Mar 25, 2015:
Fix bug on MT4 basic version. You can now customize the psar step and maxumum value.
Feb 01, 2015:
Initial release MT4 Basic and MT4 Advanced
All Expert Advisors:
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- Parabollic SAR EA
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