PSAR Trader
Info
The PSAR Trader is a Expert Advisor for MetaTrader 4 that psar trader is an expert advisor that utilizes parabolic sar signals for trading. This updated version includes a time filter and is compatible with ECN brokers, catering to the prevalent 5-digit broker systems.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
Platform
This Expert Advisor works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Experts folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use PSAR Trader
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
What this tool does
PSAR Trader is an expert advisor that utilizes Parabolic SAR signals for trading.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 4. Place the file in the MQL4/Experts folder and restart the terminal.
Description & Settings
Related: Quantora Trade Manager MT4: Advanced Position Management for MetaTrader 4 - another powerful expert for MetaTrader 4 traders.
PSAR Trader is an expert advisor that utilizes Parabolic SAR signals for trading. This updated version includes a time filter and is compatible with ECN brokers, catering to the prevalent 5-digit broker systems.Also recommended: bad orders expert advisor for metatrader - similar expert with strong performance on MetaTrader 4.
A notable feature is the 'CloseOnOppositeSignal' parameter. When set to true, it ensures that all trades initiated by the previous signal are closed upon receiving an opposite signal.
Please note that the default settings have not been tested or optimized, leaving room for users to explore and identify the optimal configurations for their specific trading strategies.
You may also like: gaps expert advisor for metatrader - excellent alternative for expert users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
extern double lots=0.1;
extern int slip=5;
extern string stopsettings="set stops below";
extern double takeprofit=50;
extern double stoploss=50;
extern string psarsettings="parabolic sar settings follow";
extern double step =0.001; //parabolic setting
extern double maximum =0.2; //parabolic setting.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.