Parabolic SAR robot (modified) | Forex Factory

Options

Permalinks
Print Thread

Similar Threads

Parabolic SAR Expert Advisor 22 replies

Parabolic SAR on MT? 7 replies

Parabolic SAR (Stop and Reverse) ind 7 replies

Parabolic SAR 4 replies

Quick Question about parabolic SAR 1 reply

Attachments: Parabolic SAR robot (modified)
Exit Attachments

Parabolic SAR robot (modified)

  • #1
  • First Post: Edited Jan 3, 2009 3:17pm Jan 2, 2009 10:45pm | Edited Jan 3, 2009 3:17pm
Happy New Year to everyone!!!

This will be my first contribution for the year to this wonderful forex factory forum.

I have been trading in demo mode now for the past 2 years. I have read the many horror stories of people losing tons of money trading. I decided long ago that I was not going to be one of them.

I love forex for the money potential that is available to you, once you educate yourself and have a robust and simple trading system. My success has been very modest, but not consistent. I believe to make serious money you have to have a system that works for you 24/7 while you are sleeping or away from the computer.

I like using the MT4 trading platform and I am learning how ea's work. I can make slight modifications to some ea's. That is the extent of my coding knowledge.

I have been following the results of a Parabolic SAR ea for a while now. I will attach forward demo test results and ea on next post.

Maybe there is a thread that has already looked at this ea. If so let me know.

I believe this ea shows great promise and has a bright future with some modifications. I love ea's which are simple and this one certainly is.

If am not a coder, but I think the following modifications to ea will greatly improve results and keep the gains consistent.

1. Limit the amount of trades the ea makes on a bar opening.
2. Add option to trade by closed bars or ticks.
3. Add feature to straddle (buy/sell) on closed bar when sar dot is complete. Maybe high and low of candle with +/- 5 pips.
4. Add feature to lock in pips.
eg. Trade in profit 13 pips, lock in 5 pips.
Trade in profit 25 pips, lock in 15 pips.
After that let trade run with trailing stop to take profit or trailing stop loss.
5. Start trading time and stop trading time (MT4 GMT).
6. Time to close out trades on Friday before market close. This way you will not be surprised with huge loss with weekend gaps.
7. The website also states that only short trades seem to work with this ea. It would be interesting to find out why, maybe there is a coding error?

Comments or suggestions much appreciated.
  • #2
  • Jan 3, 2009 7:16am Jan 3, 2009 7:16am
Instead of drawing us towards that forum, why don't you bring what's discussed there over here?

Start off by posting the mq4 file of the EA or at the very least, state its entry and exit rules.

We can easily built one from the ground up and share it with the rest of FF members right here.

regards,
Zen
Programming for a better future.
  • #3
  • Jan 3, 2009 2:13pm Jan 3, 2009 2:13pm
Quoting Zen_Leow
Instead of drawing us towards that forum, why don't you bring what's discussed there over here?

Start off by posting the mq4 file of the EA or at the very least, state its entry and exit rules.

We can easily built one from the ground up and share it with the rest of FF members right here.

regards,
Zen
Thanks Zen,

I will gather up info and post in this thread.
  • #4
  • Jan 3, 2009 3:04pm Jan 3, 2009 3:04pm
Quoting Everett
Happy New Year to everyone!!!

This will be my first contribution for the year to this wonderful forex factory forum.

I have been trading in demo mode now for the past 2 years. I have read the many horror stories of people losing tons of money trading. I decided long ago that I was not going to be one of them.

I love forex for the money potential that is available to you, once you educate yourself and have a robust and simple trading system. My success has been very modest, but not consistent. I believe to make serious money you have to have...
Welcome to Forexfactory.

Quote
Rule #3: No Forum Promotion

...Members with less than 100 posts should refrain from asking about or discussing commercial Forex products, services, or websites. This includes both positive AND negative discussions. A new member discussing or asking for opinions about a commercial Forex venture is the first warning sign of a hidden agenda. Without a posting history, it's hard to determine your credibility, so your post may be mistaken as promotional. If your post is ever moved...
Your post has a link to a site and it could be interpreted as promotional. The administrators of this site will have to decide whether or not that's the case.

I don't use MT4 but I have been using parabolic SAR for some time already and it's been working well for me. I learned heaps on SAR at babypips. http://forums.babypips.com/free-fore...thats-all.html

I wish you luck in your trades.

JW
Not all sins are created equal
  • #5
  • Jan 3, 2009 3:13pm Jan 3, 2009 3:13pm
As suggested here is the EA and info from the site. I give full credit to the author of this ea.

Lets see if we can improve it.

Setup:

Pair - EURUSD
Timeframe - 30 min.
Settings - default
Indicators - MT4 built in Parabolic SAR indicator

Trading Rules:

Sell:

The EA will open a sell order if:
the price is less than SARCurrent AND price is greater than the SARPrevious

Buy:

The EA will open a buy order if:
the price is greater than SARCurrent AND price is less than the SARPrevious

Exit:

Trailing stop.

Stop Loss:

It appears that initially a stop loss is not set, it appears to be handled internally.

I believe a moderately high stop loss should still be set even if ea handles internally. You never know what can happen.

Note: Although this ea can do buy and sell, the author recommends sell only.


From my first post I think the following would improve ea.

1. Limit the amount of trades the ea makes on a bar opening.
2. Add option to trade by closed bars or ticks.
3. Add feature to straddle (buy/sell) on closed bar when sar dot is complete. Maybe high and low of candle with +/- 5 pips.
4. Add feature to lock in pips.
eg. Trade in profit 13 pips, lock in 5 pips.
Trade in profit 25 pips, lock in 15 pips.
After that let trade run with trailing stop to take profit or trailing stop loss.
5. Start trading time and stop trading time (MT4 GMT).
6. Time to close out trades on Friday before market close. This way you will not be surprised with huge loss with weekend gaps.
7. The website also states that only short trades seem to work with this ea. It would be interesting to find out why, maybe there is a coding error?
8. Add initial stop loss based on most recent high or low.

Comments or suggestions much appreciated.

Revisions:

Original ea - SAR Sample_2
SARv2 - added intial stop loss, added magic number, corrected comment line.
Attached File(s)
File Type: zip Parabolic Sar.zip   11 KB | 3,473 downloads
  • #6
  • Jan 3, 2009 3:23pm Jan 3, 2009 3:23pm
Quoting Jay Walker
Welcome to Forexfactory.

Your post has a link to a site and it could be interpreted as promotional. The administrators of this site will have to decide whether or not that's the case.

I don't use MT4 but I have been using parabolic SAR for some time already and it's been working well for me. I learned heaps on SAR at babypips. http://forums.babypips.com/free-fore...thats-all.html

I wish you luck in your trades.

JW
Thanks for the welcome Jay.
It's nice to know that you and Zen are watching out for me.

The link was meant for information only! I have removed it. I am not promoting ea or site. It just looks like a free ea that is and can be more profitable.

I have attached ea and results on previous post.

My concept on trading is simplicity, I feel that this idea has merit. You have just confirmed it with your success. I will check out that read.
  • #7
  • Jan 3, 2009 3:24pm Jan 3, 2009 3:24pm
WOW. Menber since 2006 and only 11 posts.

Happy new year.
  • #8
  • Jan 3, 2009 4:25pm Jan 3, 2009 4:25pm
Quoting sed34
WOW. Menber since 2006 and only 11 posts.

Happy new year.
Happy New Year to you too!

When you first start out in forex, you ask stupid questions and you make silly mistakes. I quickly realized that I better educate myself first. I read books and practiced on demo. I quit trading many times because it was too hard for me. Now that I'm in love with forex and have a trading education, I can now contribute in an intelligent and productive way to help this forum.
  • #9
  • Jan 3, 2009 8:30pm Jan 3, 2009 8:30pm
We treasure 11 quality posts than over hundreds of stupid ones regardless of timeframe.

ok, let me get this straight. based on your entry rules. a trade is entered whenever PSAR switch from top to bottom or bottom to top ya?

regards,
Zen
Programming for a better future.
  • #10
  • Jan 3, 2009 9:04pm Jan 3, 2009 9:04pm
I did it at beginning of last year.

A simple psar change can easily get whipsaw during non trending. Need good filter. It run very well during trending especially at H1.

I try to find back the file and include with your said filter.
  • #11
  • Jan 3, 2009 9:34pm Jan 3, 2009 9:34pm
Quoting Zen_Leow
We treasure 11 quality posts than over hundreds of stupid ones regardless of timeframe.

ok, let me get this straight. based on your entry rules. a trade is entered whenever PSAR switch from top to bottom or bottom to top ya?

regards,
Zen
As far as I can tell it makes trades when sar switches. The better trades seem to be on the sell side. I don't understand why buys are not as profitable.
  • #12
  • Jan 3, 2009 9:35pm Jan 3, 2009 9:35pm
Quoting akukaya
I did it at beginning of last year.

A simple psar change can easily get whipsaw during non trending. Need good filter. It run very well during trending especially at H1.

I try to find back the file and include with your said filter.
Thanks Akukaya.
  • #13
  • Jan 3, 2009 10:16pm Jan 3, 2009 10:16pm
Quoting akukaya
I did it at beginning of last year.

A simple psar change can easily get whipsaw during non trending. Need good filter. It run very well during trending especially at H1.

I try to find back the file and include with your said filter.
It's true that it can easily whipsaw which is a good reason to consider psar for longer time frames, H1 as a bare minimum but preferably a higher time frame.

I keep a very close eye on the macd and slow stochastic indicators to tell me where the market might possibly go.
Not all sins are created equal
  • #14
  • Jan 3, 2009 11:38pm Jan 3, 2009 11:38pm
Quoting Jay Walker
It's true that it can easily whipsaw which is a good reason to consider psar for longer time frames, H1 as a bare minimum but preferably a higher time frame.

I keep a very close eye on the macd and slow stochastic indicators to tell me where the market might possibly go.
Since this ea is based on a 30 min. TF, I wonder if it would be a good idea to only take sell trades if the 4 hr. and maybe daily sar are going in the same direction. That would limit trades, but also might keep you out of bad ones.

BTW, why are you the most hated trader?

What settings would you use on the 30 min. for macd and stoch?

I don't want to complicate ea with more indicators unless absolutely necessary. It would be better if we could confirm with some sort of price action.
  • #15
  • Jan 4, 2009 12:12am Jan 4, 2009 12:12am
Quoting Everett
Since this ea is based on a 30 min. TF, I wonder if it would be a good idea to only take sell trades if the 4 hr. and maybe daily sar are going in the same direction. That would limit trades, but also might keep you out of bad ones.

BTW, why are you the most hated trader?

What settings would you use on the 30 min. for macd and stoch?

I don't want to complicate ea with more indicators unless absolutely necessary. It would be better if we could confirm with some sort of price action.
I used the daily TF for a long time but decided to focus on weekly instead. The way I see it, 30 mins is a scalper's domain and I would recommend against it. I'm not saying it wouldn't work, just stating my personal preference. I use the standard settings for macd and stoch.

I do agree that taking trades only if the 4hr and daily sar are heading in the same direction makes sense.

And the reason why I crowned myself FF's most hated trader is because I've been accused of being rude and being this forum's clown amongst other things.
Not all sins are created equal
  • #16
  • Jan 25, 2009 10:55am Jan 25, 2009 10:55am
Hello. Sorry for my bad inglish.
Very good EA, but i think it coud be better if it can be transformaed in a martingale EA.
Can some one try it? Thanks
  • #17
  • Apr 9, 2016 8:57am Apr 9, 2016 8:57am
Hi,
Thank you for your help, it is good strategy but need to add more function on it, please follow my function and send us V3
1. change all the entries to sell limit and buy limit entries and make i variable (so we can change it); it will reduce the loss and incress the profit
2. put time in the option (begin and end); some of it will not give good result at night.
3. Put MA to show the main direction for example if the trend is up, i dont want to enter sell i want only enter buy, and make the MA variable it should be changed as per the time frame.

Thank you very much for your help
  • #18
  • Last Post: Jun 29, 2019 12:28pm Jun 29, 2019 12:28pm
So... this is a dead thread? That sux. Looked interesting
Don't compare your trades to others. Most often the masses are the asses
0 traders viewing now