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PSAR Trend Trading MT5

This EA initiates a trade when the trend on the current timeframe changes.

The open position is closed when a reverse trend is detected or when take profit or stop loss level is reached.

I created a signal on daily charts https://www.mql5.com/en/signals/316404 where I expect 2-5 trades a week.


Features

  • Easy to use without difficult setup.
  • Works on any Forex broker.
  • Supports any account type including mini and micro.
  • Works on any symbol and timeframe.
  • Only 1 open position on each chart.


Parameters

  • lot - fixed lot size
  • stoploss - stop loss setting in points on a 5-digit broker
  • takeprofit - take profit setting in points on a 5-digit broker
  • pips - maximum distance in points between the price of opening the current candle and closing price of the previous candle
  • step - parabolic sar step value
  • max - parabolic sar max value
  • market - market execution policy
  • fok - order can be filled only in the specified amount
  • ret - in case of partial filling, a market or limit order with remaining volume is not canceled but processed further
  • ioc - trader agrees to execute a deal with the volume maximally available in the market within that indicated in the order
  • slipp - maximum slippage
  • sec - number of seconds of a pause between retry of opening a position in case of failure


Documentation

  • Parabolic SAR: https://www.metatrader5.com/en/terminal/help/indicators/trend_indicators/psar
  • Filling policies: https://www.mql5.com/en/docs/constants/tradingconstants/orderproperties#enum_order_type_filling
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