The automated trading software (EA) introduced here is based on our trading strategy found here:
This trading strategy is a trend-following technique that combines the powerful MACD and PSAR indicators. Therefore, it is especially recommended for those who like trend-following methods and this robot will enable them to automate some of their daily tasks.
- Parabolic SAR
- ATR (used to determine profits)
This EA will place a buy order if the following conditions are met (for sell orders, it’s the opposite).
- PSAR reversed from bearish to bullish
- MACD line is 0 or more
- MACD signal line is 0 or more
This entry logic is only confirmed when a new candlestick is created.
This EA puts a stop loss in the PSAR when placing an order. Also, if the PSAR is reversed after placing an order, the trade will be closed.
In addition, the take profit can be provided and ATR stop loss can be used.
It is difficult to win with the MACD alone, but this EA supplements the MACD with the Parabolic SAR. It may be said that it is an EA which judges the trend with the MACD and determines the timing of entry with the PSAR. Another advantage is that there is a stop loss based on the PSAR. This makes it very clear for where the stop is placed and it is not a stop too wide usually
- UseATRTP - Defines whether the EA uses an ATR take profit order or not. If true, the EA sets take profit based on the ATR.
- ATR - Multiplier of ATR take profit
- MACDPeriodFast - The period used for MACD FastMA calculation
- MACDPeriodSlow - The period used for MACD SlowMA calculation
- MACDSignal - The period used for MACD Signal calculation
- step - The step of PSAR
- maximum - The maximum of PSAR
- Shift - Shift of indicators
Note: Backtest results may be optimized. Also, the backtest results may differ from the trade results when using a live trading account. Please keep this in mind when using the EA.
Download the "MACD_PSAR" MT4 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.