New EA EA using modified Parabolic SAR

I attached a new EA using modified Parabolic SAR. Please test and provide feedback.

There are 3 files. Follow the steps below to install :
a. Copy and paste ModiPSAR.ex4 onto your MT4 Indicators folder
b. Copy and paste TradePSAR.ex4 onto your MT4 Experts folder
c. Copy and paste TradePSAR.tpl onto your MT4 template folder

Run your MT4, right click on your MT4 chart and select load template TradePSAR.tpl.

Here is the criteria.

a. If you are scalping, set TrailingStop = 2 and TrailingStep = 1. TimeFrame is 5m. Any currency pairs but it is recommended that you trade with pairs that have low spread. To make sure you are good with the spread, you can set the SpreadLimit setting e.g. if you set SpreadLimit = 30 then any pair with spread > 3 pips, the EA will ignore and will not trade. I trade EURUSD, GBPUSD, AUDUSD, USDJPY, USDCHF, USDCAD, EURJPY, GBPJPY, EURGBP and GBPCHF because my broker provides spread below 0.5 with a commission.

b. If you are trend trading, set TrailingStop = 10 and TrailingStep = 5. TimeFrame is 1H. Any currency pairs but the recommended spread instruction is the same as (a). I have not found the best settings for TrailingStop and TrailingStep in 1H trend trading so if you have found the best setting, please share.

c. Lots and RiskPercent. If you want to trade Fixed Lot size, set the lot size in Lots and EA will ignore RiskPercent. If you want to trade dynamic lot size, then set Lots = 0 and EA will use the number you set in RiskPercent as the percentage. E.g. Lots = 0 and RiskPercent = 5% then EA will use 5% of your balance equity. If Lots = 0.02 then EA will ignore whatever number you put in RiskPercent and lot size will be 0.02.

d. If you want to use the EA on RenkoChart, make sure you TimeFrameToTrade = Current and drop the EA onto your M2 offline chart.

e. There is no Stop Loss and Take Profit to set because the EA automatically adjust the Stop Loss based on Parabolic SAR dots. Take Profit will depend on your trailing stop/step setting. EA will automatically take profit if the trend changes.

 

Thank you. I will test.

 

Thank u

 

Is the EA related to SFE Night Scalper ?

 

Hey, I can't test in BT... Why?

 

What is your performance?

 

Not related to SFE Night scalper. I coded this EA myself from scratch. It uses 2 PSAR indicators. The original one is intact and does not change. Then I modified the original and called it the ModiPSAR. With 2 version of PSAR, then I proceed to code the EA that reads off the 2 PSAR indicators.
 

I did not BT it. I don't believe in BT because even successful programmer who once wrote good EA will tell you that past performance will not guarantee future results. Then in that case, why give a shit about past result ?? Go straight into FT instead. Make sense ?
 
If you want to scalp, use M5.set. If you want to trade long term, use H1.set. Give me your feedback.

 

i can't attach the indicator
and there is no OP ...
Will you help me Douglas

 

Indicator is in the zipped file of 1st posting

 

Thats i mean.
I Just extract the indicator to indicator folder, but there is no effect in my MT4, when i attach the indi to MT4.
Will you show me your MT4 when you attach this template,please..

 

I think the indicator not showing dot in the chart,,
used for logic ea only..

 

Yes, maybe...
But i attached template almost 24 hours without OP .

 

This ea cannot be tested because its critical error.

 

FT demo 10 pair, just today result not good
using set M5

 

Somebody test H1? After 2 days I have profit...

 

Other forum feedback that the best TF is 1H and the trick is in the money management. Someone have found the correct settings of trailing stop but did not share the set file. Thats not cool at all.

 

Yes. PSAR is used in deciding entry. It is not displayed but you can always drag and drop it on the chart and see the dots if you want. If you want to see trade, set on M1. You will see trades but most loss ones

 

This is my review for this thread:
great

 

Thanks for the share. I will test it, and put it on a demo and then a live depending on the results.

 

Tried to test this, but license expired