Parabolic SAR extreme
- Experts
- Teng Qi Sheng Joshua
- Version: 1.0
Parabolic SAR extreme
- When the Parabolic SAR value indicates an uptrend or downtrend, the EA will open a buy or sell trade respectively, given that all other criteria are met
- This EA allows you to set up to 21 separate Parabolic SAR criteria for the EA to work on
- There are 3 input parameter sets (SAR1, SAR2, and SAR3)
- Each set allows you to determine the parameters (such as the step and max step) for each set
- And within each set, you get to indicate up to 7 timeframe for the EA to operate in
- Therefore this is an extremely robust tool
Key info
- Works on any pair
- Recommended capital: $1k - $5k per chart, based on starting lot size of 0.01
- Use it at your own risk, use capital you can afford to lose
Key features
- Extremely lean code and very fast strategy testing
- Unique and well programmed parameters designed to mitigate risk based on the user's preference
- Optional Stop Loss parameter allows users to turn the martingale recovery method off:
- you'll be surprised at the lack of a stop loss function on most martingale EAs
- to do that, ensure that the "Stop Loss" input parameter has a value that is lower than the "Point Step" input parameter
INPUT PARAMETERS
Trade Settings
- Lots - The lot size of the first trade. If input is less than 0.01, it will be rounded to 0.01 which is the smallest lot tradable with most brokers
- Lot Exponent - The rate at which the lot size increases
- Lot Exponent Multiplier - The rate at which the Lot Exponent increases
- Take Profit - Amount of profit (in points) that has to be earned (per mini-lot) before the trade closes.
- TP Multiplier - The rate at which the 'Take Profit' level changes (this should preferably be less than 1.)
- Point Step - The minimum distance (in points) before the next trade is allowed to be placed
- Point Step Multiplier - The rate at which the Point Step increases
Risk Management
- Stop Loss - The amount of loss (in points) that has to be incurred before the trade closes. An input of zero nullifies this input.
- (To turn the martingale recovery method off, ensure that the "Stop Loss" input parameter has a value that is lower than the "Point Step" input parameter) - Max Open Orders - Maximum open orders allowed, after which, the EA will not open new orders
- Open Subsequent trades on new candle - If set to true, all recovery (average-down) trades can only open at the start of a new candle
- Open only if current price is worse off than previous trade - If set to true, all recovery (average-down) trades can only open if all the trades in the set are in a loss
Parabolic SAR Settings
- Shift - This is the number of bars which the Parabolic SAR value lags by. Use Zero for the latest price, but zero might result in repainting
- Step - This is the price increment step or acceleration factor, usually set at 0.02
- Max - This is the maximum value of a step
- Timeframe1 -
- It doesn't matter what timeframe your chart is set at
- Use this parameter to determine the timeframe which you want the Parabolic SAR EA to operate in
- There are 7 of such parameters, this allows you to use the same set of criteria (Step, max shift) to operate in up to 7 different timeframes
- Timeframe2 to Timeframe7 - same concept as above
