Parabolic SAR EA Basic


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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 through 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 through.
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 Parabolic 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)