About the Parabolic SAR indicator
The Parabolic SAR (parabolic stop and reverse) indicator was devised by J. Welles Wilder, Jr., to find potential reversals in the market direction. He draws points to the chart, which show the support and resistance price levels. He is included in Metatrader 5. The default settings are: step 0.02, maximum 0.2.
The trading logic of this forex robot
The Parabolic SAR EA is a forex robot which uses the P-SAR support and resistance levels to open a trading position. A buy signal is generated if the price breaks through the resistance level and a sell signal is generated if the price breaks through the support level.
Additional Functions
- Multiple Open Orders
- Spread Filter
- Money Management
- Inverse Strategy
- BreakEven
- TrailingStop
- Moving Average Trend Filter
- Push & Email Notifications
- Time & Day Filter
- Custom Order Comment
- Custom Magic Number
- Custom Deviation (Slippage)
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