Welcome back, fellow traders! Today, we're diving into the exciting world of the pSAR EA, a powerful tool designed to help you open and close trades based on the first parabolic SAR signal. If you're looking to up your trading game, this Expert Advisor (EA) can be a game-changer.
Understanding the Basics
Before we get into the nitty-gritty, let’s talk about the key parameters that can make or break your trading experience with this EA:
- Stop Loss: Protect your capital by setting a safety net.
- Take Profit: Secure your gains by closing trades at your desired profit level.
- Trailing Stop: Lock in profits as the market moves in your favor.
- Lot Size: This affects how much capital you allocate for each trade.
Important Note: Make sure to adjust the SAR indicator's "Step" and "Maximum" values to align with the EA's settings. This is crucial for visual consistency, although the EA operates independently of the indicator. For example, if your EA uses a default step of 0.001 and the SAR indicator is set to 0.02, you might think the EA isn’t opening orders when, in fact, the virtual SAR hasn’t triggered yet. If you notice that no orders are opening and errors appear in the journal, that’s your cue to investigate!
Always keep an eye on this page for updates, and if you appreciate the free tools I provide, feel free to support my projects! Donations help keep this EA and future versions available at no cost. You can reach me at admin@forexyangu.com.
Let’s take a look at a sample trade using the pSAR EA:
Sample Trade 1
This trade utilized the EURJPY on the H4 timeframe with the following settings:
- Stop Loss: 180
- Take Profit: 870
- Step: 0.001
- Lot Size: 20
- Initial Deposit: $35,000
Trade period: From January 1, 2010, to February 18, 2010 (the date I uploaded this EA).
Here are the results:
| Symbol | EURJPYFXF (Euro vs Japanese Yen) | ||||
| Period | 4 Hours (H4) 2010.01.03 22:00 - 2010.02.17 20:00 | ||||
| Model | Every tick (the most precise method) | ||||
| Parameters | StopLoss=180; TakeProfit=870; Lots=20; Slippage=5; Step=0.001; Maximum=0.2; | ||||
| Initial deposit | 35,000.00 | Total net profit | 183,382.98 | Gross profit | 187,499.73 |
| Gross loss | -4,116.75 | Profit factor | 45.55 | Expected payoff | 91,691.49 |
| Total trades | 2 | Short positions (won %) | 1 (100.00%) | Long positions (won %) | 1 (0.00%) |
Keep in mind, traders, that by understanding and utilizing the pSAR EA effectively, you can enhance your trading strategy significantly. Stay tuned for more insights and happy trading!
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