Parabolic Switch FREE
Parabolic Switch FREE is a limited version of an Expert Advisor based on long-term parabolic Stop and Reversal strategy. Can be used on USDJPY, OIL (Crude and WTI), SUGAR and similar. The EA features a positive GRID mechanism that allows it to open more orders if the previous trade is profiting. Orders can be held from couple of hours to even couple of months (commodities) if trend sustains. If reversal point of SAR indicator will be false, and trade will close at SL, the EA will not open next trade until the price will reach the reversal point again (standard NO_TRADE zone on the screenshot). If you want to extend NO_TRADE zone, you can simply add horizontal line and name it "WORK_LEVEL" (the EA will return "terminated" comment). That works in both ways and is immune to reversal moments.
Free version restrictions include:
- LOT = smallest possible value.
- GRIDER_LVL = 2.
Default parameters are dedicated for OIL M15.
Symbol without special characters in the name (eg "£")
- MAGIC_NUMBER - unique number for each working EA.
- STOP_LOSS - if true, use classic Stop Loss (recommended true).
- GRIDER - if true, the EA creates a grid of next orders.
- ORDER_LOG - if true, the EA logs each entry parameters in file (recommended true).
- STATIC_SAR - if true, the EA calculates SAR indicator based on a timeframe in SAR_TF (use it if you want, i.e. SAR_TF = 15 on H1 chart for wider view).
- SL - Stop Loss level in points (recommended high value only for emergency cases such as connection loss or hardware malfunction).
- SLIPPAGE - slippage in points.
- SAR_TF - SAR timeframe (only if STATIC_SAR = true, recommended 15).
- SAR_STEP - SAR step factor (for further calculations).
- SAR_MAX - SAR maximum factor (for further calculations).
- GRIDER_STEP - value in points between next orders in a grid (only if GRIDER = true).
- OPEN_FRAME_1 - if true, the EA will use this OPEN_FRAME settings. OPEN_FRAME is period of time when the EA is allowed to send an order.
- OPEN_FRAME_1DB - OPEN_FRAME day begin (1 = Monday).
- OPEN_FRAME_1DE - OPEN_FRAME day end (5 = Friday).
- OPEN_FRAME_1HB - OPEN_FRAME hour begin.
- OPEN_FRAME_1HE - OPEN_FRAME hour end.
- OPEN_FRAME_2 - same as OPEN_FRAME_1.
- CLOSE_FRAME_1 - if true, the EA uses this CLOSE_FRAME settings. This is a period of time when the EA is forced to close ALL its orders (from DB to DE (including), equal H and above M).
- CLOSE_FRAME_1DB - CLOSE_FRAME day begin.
- CLOSE_FRAME_1DE - CLOSE_FRAME day end.
- CLOSE_FRAME_1H - CLOSE_FRAME hour.
- CLOSE_FRAME_1M - CLOSE_FRAME minute.
- CLOSE_FRAME_2 - same as CLOSE_FRAME_1.
For commodities, I do not recommend using CLOSE_FRAMEs.