Parabolic SAR is one of the most popular indicators for beginners. The reason for this is because when the Parabolic SAR is used, entry timing, profit-taking, and cutting losses become easier and more precise. The MT4 EA (automatic trading software) combines the Parabolic SAR with the ADX indicator, which is useful for trend analysis.
This EA is based on our unique trading strategy. You can read more about it in our trading strategies section here:
This EA will place a buy order if the following conditions are met:
A sell order is placed when the following conditions are met:
This entry logic is only confirmed when a new candlestick is created. In addition, the value of the previous candlestick and its indicator is the target.
This EA will close the buy order if any of the following conditions are met:
The closing conditions for an active sell order are either of the following:
By the way, it is also possible to set take profit and stop loss via the parameters. By default, take profit and stop-loss are set to zero.
A stop-loss based on the ATR (Average True Range) can also be used.
Although it may be difficult to trade with the Parabolic SAR alone, this EA increases the winning rate by using the ADX to determine trends. It also has a big advantage that the point where trades should be closed is objective and obvious because it uses the Parabolic SAR for that.
Note: Backtest results may be optimized. Also, the backtest results may differ from the trading results when using a live trading account. Please understand this point before you use the EA.
Download the "ADX_PSAR" MT4 robot (Expert Advisor) from the button below
Do you need help with installing this indicator into MT4 for Windows or Mac OS? Our guide HERE will help you.
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