Updated: 4 days ago
I continue to share free forex robots with you all. Today i will share EA witch works with Parabolic SAR indicator and this indicator is one of the classics which you can find in every MT4 or MT5 terminal. It's a trend indicators, he shows dots above and below the price. If dots are placing above the price it means there is a signal to sell. If dots are placing dots below the price it means there is a signal to buy. Actually this indicator is great and he is doing his job. The higher time frame the higher precise of the signal, for example 1D and 4H time frame will show more stable signals, but positions will be much longer. So you can use smaller time frames for faster trading like a 1H or smaller. As always is better to use an extra filter to recognize all the signals more accurate, but this EA works only whith Parabolic SAR indicator.
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Below it's a chart example of how parabolic sar indicator looks like.
The whole reason i want to share free simple Robots is that i know how fun you can get playing with trading robots, to see how they doing everything automatically, especially when they're showing profitable results. Always there is a possibility to find a profitable settings for every EA, doesn't matter how simple it is. For example EA can work on EURUSD 1H, but not on the GBPUSD 1H, every Forex pair has it's own characteristic of movement. So it's the whole deal to find the best settings for Robots. Once you find ones you can earn some money from it. In my opinion the more simple Forex strategy is the more profitable it can be.
Inputs menu of EA.
Robot opens a buy trade when dots are below and opens a sell trade when dots are above.
You can delete opposite trades when the signal is changed or you can leave them continue to trade. Just turn off this feature in the settings window. If you don't need stop loss, take profit or both so set 0 into settings and Robot won't set stop loss or take profit for every position.