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Experts: PSAR trader

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Have you found an interesting application? Publish it in Code Base - millions of traders will appreciate that!
MetaQuotes Software Corp.
Moderator
181054
MetaQuotes Software Corp. 2012.07.02 10:29 

PSAR trader:

Trades using parabolic sar signals

Author: Tonny Obare

MQL4 Comments
16319
MQL4 Comments 2012.07.04 13:38  
Very good idea.
Why Buy to open more positions, and only one sale??
tkaboris
82
tkaboris 2012.07.05 22:18  
eiseletamas:
Very good idea.
Why Buy to open more positions, and only one sale??

Opens too many positions, you should limit ea to only open 1 position
tkaboris
82
tkaboris 2012.07.05 22:18  
You should add MA filter too
Tonny Obare
1019
Tonny Obare 2012.07.07 13:00  

Opens too many positions, you should limit ea to only open 1 position

it opens another trade if the previous one takes tp or sl while the condition is still there when market is trending that direction aggressively it can be advantagous
Tonny Obare
1019
Tonny Obare 2012.07.13 17:26  
The bug that the ea makes too many trades at the same time has been noted and will be sorted in the next version this was just a case of confusing between two files
MQL4 Comments
16319
MQL4 Comments 2013.09.19 07:27  
tonny:
tonny:
The bug that the ea makes too many trades at the same time has been noted and will be sorted in the next version this was just a case of confusing between two files
Can anyone make this ea enter trade at every dot of the parabolic sar and also close current trade on reversal signal?? pleeeeeeeease!

The bug that the ea makes too many trades at the same time has been noted and will be sorted in the next version this was just a case of confusing between two files
timmbits
83
timmbits 2015.10.20 02:09  

That is not very much "documentation", if it can even be called that.  Just place it here, since it doesn't take up much space.  Here it is for all: 

 

PSAR trader documentation

Settings explained

  • StopLoss: Stop loss distance for your orders e.g. 50, 20 etc
  • TakeProfit: Take profit for orders opened by the ea.
  • Lots: Lot size to be used in opening your orders.
  • Slip: Slippage for closing orders.
  • Step: Step setting for the ea's virtual parabolic sar indicator. It overrides the attached indicator's step setting if different.
  • Maximum: Maximum setting for the psar bug's virtual parabolic sar indicator. It overrides the attached indicator's maximum setting.
  • CloseOnOpposite: If true, all trades of the opposite signal opened by the EA will be closed when a new signal occurs.
  • StartHour: Ea will ignore signals until this hour is reached.
  • EndHour: Ea will ignore signals after this hour.

Installation

  1. Simply download the psar trader .mq4 file and transfer(copy and paste) it to My computer ---> Program Files ----> MetaTrader ---> experts.
  2. Open meta trader and in the expert advisors list you should see the version of psar trader you downloaded. Right click on it and attach it to the chart you want.
  3. A window will appear to input your settings. To enable live trading check the appropriate option and click ok. Also ensure you click the "expert advisors" button to green on the MT4 menu to enable expert advisors to work.

FAQ

  • What are the best settings? Use your meta trader strategy tester to find the optimum setting for your broker. If you dont know how please learn in your meta trader help option or anywhere in the internet. We dont pre set tested settings in our free expert advisors.
  • Do i have to attach parabolic indicator to the chart? Absolutely not. PSAR trader is designed to work by itself.
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