PSAR trader v2

Author: Copyright � 2012, www.FxAutomated.com

Profit factor:

1.13

This script is designed to automatically trade on the Forex market using the Parabolic SAR (Stop and Reverse) indicator. Think of the Parabolic SAR as a tool that helps identify potential trend changes in the price of a currency pair.

Here's how it works:

Setup: The script starts by reading in settings you provide, such as the amount of currency to trade per transaction (Lots), how much price slippage to allow (Slip), the desired profit target (TakeProfit), and the acceptable loss level (StopLoss). It also takes settings specific to the Parabolic SAR indicator (Step, Maximum), which affect its sensitivity to price changes. You can also specify trading hours (StartHour, EndHour).
Time Check: Before doing anything, the script checks if the current time is within the hours you've allowed it to trade. If not, it simply waits.
Trend Identification and Opening Orders: The core logic revolves around the Parabolic SAR. The script compares the Parabolic SAR value to the current price.
- If the Parabolic SAR suggests the price is about to rise (a "buy" signal) AND there are no existing open orders, the script opens a "buy" order (hoping to profit from the price increase).
- Conversely, if the Parabolic SAR signals a potential price decrease (a "sell" signal) AND there are no existing open orders, it opens a "sell" order.
Closing Orders: The script can be set to close an existing trade when an opposite signal occurs. This is controlled by the CloseOnOppositeSignal setting. If it's turned on:
- If the script opened a "buy" order and now a "sell" signal appears, it closes the "buy" order.
- If a "sell" order was opened and a "buy" signal is seen, it closes the "sell" order.
Managing Open Positions (Take Profit and Stop Loss): For any open positions associated with the script, it attempts to set "take profit" and "stop loss" levels. "Take profit" is the price level where the script automatically closes the trade to secure a profit. "Stop loss" is the price level where the script automatically closes the trade to limit potential losses.
Error Handling: The script includes some basic error detection. If it encounters problems (like incorrect stop-loss values or trading being prohibited), it displays alerts.

In simple terms, the script watches the market, uses the Parabolic SAR to try and predict price movements, and automatically buys or sells currency based on those predictions. It also tries to protect your investment by automatically closing trades when specific profit or loss levels are reached and can close trades as new signals are generated in the opposite direction.

Price Data Components

Orders Execution

Indicators Used

Miscellaneous

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PSAR trader v2

//+------------------------------------------------------------------+
//|                                               PSAR trader v2.mq4 |
//|                            Copyright © 2012, www.FxAutomated.com |
//|                                       http://www.FxAutomated.com |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2012, www.FxAutomated.com"
#property link      "http://www.FxAutomated.com"

//---- input parameters
extern double    Lots=0.1;
extern int       Slip=5;
extern string    StopSettings="Set stops below";
extern double    TakeProfit=50;
extern double    StopLoss=50;
extern string    PSARsettings="Parabolic sar settings follow";
extern double    Step    =0.001;   //Parabolic setting
extern double    Maximum =0.2;    //Parabolic setting
extern bool      CloseOnOppositeSignal=true;
extern string    TimeSettings="Set the hour range the EA should trade";
extern int       StartHour=0;
extern int       EndHour=23;
extern int       MagicNumber=220101;

string Trend;
//+------------------------------------------------------------------+
//| expert start function                                            |
//+------------------------------------------------------------------+
int start()
  {
//----

int StopMultd=10;
int Slippage=Slip*StopMultd;

int i,closesell=0,closebuy=0;

//------------------------------------------------------------

double  TP=NormalizeDouble(TakeProfit*StopMultd,Digits);
double  SL=NormalizeDouble(StopLoss*StopMultd,Digits);


//-------------------------------------------------------------------+
//Check open orders
//-------------------------------------------------------------------+
if(OrdersTotal()>0){
  for(i=1; i<=OrdersTotal(); i++)          // Cycle searching in orders
     {
      if (OrderSelect(i-1,SELECT_BY_POS)==true) // If the next is available
        {
          if(OrderMagicNumber()==MagicNumber&&OrderSymbol()==Symbol()) {int halt=1;}


        }
     }
}
//-------------------------------------------------------------------+
// time check
//-------------------------------------------------------------------
if((Hour()>=StartHour)&&(Hour()<=EndHour))
{
int TradeTimeOk=1;
}
else
{ TradeTimeOk=0; }
//-----------------------------------------------------------------
// Bar checks
//-----------------------------------------------------------------

 
 //-------------------------------------------------------------------

//-----------------------------------------------------------------------------------------------------
// Opening criteria
//-----------------------------------------------------------------------------------------------------

// Open buy
 if((iSAR(NULL, 0,Step,Maximum, 0)<iClose(NULL,0,0))&&(iSAR(NULL, 0,Step,Maximum, 1)>iClose(NULL,0,1))&&(TradeTimeOk==1)&&(halt!=1)&&Trend!="BUY"){
 int openbuy=OrderSend(Symbol(),OP_BUY,Lots,Ask,Slippage,0,0,"PSAR trader buy order",MagicNumber,0,Blue);
 if(CloseOnOppositeSignal==true)closesell=1;
 Trend="BUY";
 }


// Open sell
 if((iSAR(NULL, 0,Step,Maximum, 0)>iClose(NULL,0,0))&&(iSAR(NULL, 0,Step,Maximum, 1)<iClose(NULL,0,1))&&(TradeTimeOk==1)&&(halt!=1)&&Trend!="SELL"){
 int opensell=OrderSend(Symbol(),OP_SELL,Lots,Bid,Slippage,0,0,"PSAR trader sell order",MagicNumber,0,Green);
 if(CloseOnOppositeSignal==true)closebuy=1;
 Trend="SELL";
 }


//-------------------------------------------------------------------------------------------------

//-------------------------------------------------------------------------------------------------
// Closing criteria
//-------------------------------------------------------------------------------------------------

if(closesell==1||closebuy==1||openbuy<1||opensell<1){// start

if(OrdersTotal()>0){
  for(i=1; i<=OrdersTotal(); i++){          // Cycle searching in orders
  
      if (OrderSelect(i-1,SELECT_BY_POS)==true){ // If the next is available
        
          if(OrderMagicNumber()==MagicNumber&&closebuy==1&&OrderSymbol()==Symbol()&&OrderType()==OP_BUY) { OrderClose(OrderTicket(),OrderLots(),Bid,Slippage,CLR_NONE); }
          if(OrderMagicNumber()==MagicNumber&&closesell==1&&OrderSymbol()==Symbol()&&OrderType()==OP_SELL) { OrderClose(OrderTicket(),OrderLots(),Ask,Slippage,CLR_NONE); }
          
          // set stops
          
                // Calculate take profit
                double tpb=NormalizeDouble(OrderOpenPrice()+TP*Point,Digits);
                double tps=NormalizeDouble(OrderOpenPrice()-TP*Point,Digits);
                // Calculate stop loss
                double slb=NormalizeDouble(OrderOpenPrice()-SL*Point,Digits);
                double sls=NormalizeDouble(OrderOpenPrice()+SL*Point,Digits);
          
          if((OrderMagicNumber()==MagicNumber)&&(OrderTakeProfit()==0)&&(OrderSymbol()==Symbol())&&OrderType()==OP_BUY){ OrderModify(OrderTicket(),0,OrderStopLoss(),tpb,0,CLR_NONE); }
          if((OrderMagicNumber()==MagicNumber)&&(OrderTakeProfit()==0)&&(OrderSymbol()==Symbol())&&OrderType()==OP_SELL){ OrderModify(OrderTicket(),0,OrderStopLoss(),tps,0,CLR_NONE); }
          if((OrderMagicNumber()==MagicNumber)&&(OrderStopLoss()==0)&&(OrderSymbol()==Symbol())&&OrderType()==OP_BUY){ OrderModify(OrderTicket(),0,slb,OrderTakeProfit(),0,CLR_NONE); }
          if((OrderMagicNumber()==MagicNumber)&&(OrderStopLoss()==0)&&(OrderSymbol()==Symbol())&&OrderType()==OP_SELL){ OrderModify(OrderTicket(),0,sls,OrderTakeProfit(),0,CLR_NONE); }

        }
     }
}


}// stop

//----
int Error=GetLastError();
  if(Error==130){Alert("Wrong stops. Retrying."); RefreshRates();}
  if(Error==133){Alert("Trading prohibited.");}
  if(Error==2){Alert("Common error.");}
  if(Error==146){Alert("Trading subsystem is busy. Retrying."); Sleep(500); RefreshRates();}

//----

//-------------------------------------------------------------------
   return(0);
  }
//+------------------------------END------------------------------------+
















































































int init()
  {
//----
   Alert("Visit www.FxAutomated.com for more goodies!");
//----
   return(0);
  }

Profitability Reports

USD/CAD Jul 2025 - Sep 2025

2.67

Total Trades 11

Won Trades 8

Lost trades 3

Win Rate 72.73 %

Expected payoff 16.55

Gross Profit 290.91

Gross Loss -108.81

Total Net Profit 182.10

-100%

-50%

50%

100%

PSAR trader v2

Profitability Reports

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