Moving Average

The Parabolic SAR (Stop and Reverse) Indicator, developed by J. Welles Wilder, Jr., is designed to identify potential reversals in market direction. It plots points on the chart to depict support and resistance price levels. The indicator is integrated into Metatrader 4 and 5 platforms, with default settings of Step 0.02 and Maximum 0.2.

The Parabolic SAR EA is a forex robot that utilizes the support and resistance levels determined by the Parabolic SAR (P-SAR) indicator to initiate trades. It generates a buy signal when the price surpasses the resistance level and a sell signal when the price breaches the support level. The advanced version includes an optional second Parabolic SAR indicator to serve as a trend filter.

By default, the EA executes trades only upon the opening of a new candle. If you prefer not to wait for the candle to close, you can set the TradeOnNewBar function to false. This modification allows the EA to enter a trade immediately upon a breakthrough. In situations of sideways market movement where a Sell position might be preferred when a Buy position is expected, and vice versa, you can enable this functionality by setting the InverseStrategy function to true.

The advanced EA comes with additional features, including a SpreadFilter designed to eliminate large price differentials during highly volatile market conditions. It also incorporates a TrailingStop and BreakEven function to safeguard existing profits. Furthermore, a Parabolic SAR trend filter is included to ascertain the prevailing market direction.