PSAR Trader
Info
The PSAR Trader is a Expert Advisor for MetaTrader 4 that description:psar trader is an expert advisor (ea) that utilizes the parabolic sar indicator for trading. It incorporates a time filter and is compatible with ECN brokers.
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
Description:PSAR Trader is an expert advisor (EA) that utilizes the Parabolic SAR indicator 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.
Description:Also recommended: bad orders expert advisor for metatrader - similar expert with strong performance on MetaTrader 4.
PSAR Trader is an expert advisor (EA) that utilizes the Parabolic SAR indicator for trading. It incorporates a time filter and is compatible with ECN brokers.
The EA's settings are straightforward, with an option to close trades based on opposite signals. If enabled, when an opposite signal is generated, all trades opened with the previous signal will be closed.
PSAR Trader is designed for 5-digit brokers, which are now prevalent among major brokers.
The default settings are provided as a starting point, and users are encouraged to optimize them for their specific strategies. The default settings have not been tested or optimized.
If you find this EA useful, consider donating at the website. Full documentation is available to guide users in utilizing the EA effectively.
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 string visit="www.fxautomated.com for more products";
extern string signalsandmanagedaccounts="www.tradingbug.com";
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";.......
⚠ 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.