This MetaTrader 4 expert advisor functions as an automated trading robot using the Average Directional Index (ADX) to identify trend strength and direction. It executes trades based on ADX crossovers and specific level thresholds. The EA provides essential risk management tools, including stop loss, take profit, and a
Trading robot · MT4
Parabolic SAR EA
This MetaTrader 4 expert advisor implements a trend-following strategy based on the Parabolic SAR indicator.
GitHub stars2
Forks2
Last update9 years ago10 Feb 2017
LicenceMIT
Overview
Parabolic SAR EA monitors indicator flips to identify potential entry points, opening buy positions when the SAR dots move below the price and sell positions when they move above. The robot manages trades using fixed stop loss and take profit levels, and includes a built-in trailing stop mechanism with adjustable steps and spread offsets. The EA operates with a fixed lot size and is presented as a framework for further strategy testing and optimization.
- Parabolic SAR crossover logic
- Adjustable trailing stop mechanism
- Fixed stop loss and take profit levels
- Magic number trade identification
Details
Author
vinchess on GitHub
Type
Trading robot
Platform
MetaTrader 4 (MQL4)
Strategy
Trend following, Indicator crossover
Markets
Any symbol
Timeframes
Any timeframe
Risk profile
No grid, martingale or hedging logic was found in its code or README. That says nothing about how it performs: backtest it first.
EA files
Input parameters
Read from SAR.mq4. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
magicNumber | int | 120120 | Magic Identifier |
controlLot | double | 0.1 | control value |
trailStep | int | 1 | Trailing Step |
offsetSpread | int | 5 | Trailing Spread Offset |
trailingStop | int | 30 | Trailing Stop |
stopPoint | int | 30 | SL Level |
profitPoint | int | 60 | TP Level |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone vinchess/Parabolic-SAR-EA from GitHub, and unzip it.
- 2Open the data folderIn MetaTrader choose File, then Open Data Folder, and go to MQL4/Experts.
- 3Copy the filesCopy the .mq4 file into Experts.
- 4Compile in MetaEditorOpen the file in MetaEditor and press Compile. Fix any missing includes the compiler reports.
- 5Test before you tradeRun it in the Strategy Tester, then attach it to a demo chart and allow algorithmic trading.
Third-party code. ForexR did not write, test or endorse this EA, and the summary above was generated automatically from its README and code. ForexR lists only repositories with readable source code and never hosts files. Read the code, backtest it and use a demo account first; automated trading can lose money quickly.
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