ParabolicSAR-Breakout is an elementary strategy concept using the ParabolicSAR indicator.
Strategy Logic: The start of the trend can be detected when the Parabolic SAR indicator changes its orientation. This situation occurs when the market price (Bid) reaches the current value of the ParabolicSAR indicator. Based on the direction of the Parabolic SAR change/flip, we can distinguish:
Buy Signal: Market price rises up and the Parabolic SAR indicator flips below the current price.
Sell Signal: Market price falls down and the Parabolic SAR indicator flips above the current price.
ParabolicSAR-Breakout Strategy Inputs:
- UniqueStrategyNumber – Unique strategy identifier (Magic Number), each running strategy should have a different UniqueStrategyNumber
- ParabolicSARStep – Settings for the Parabolic SAR Step value
- ParabolicSARMaximum– Settings for the Parabolic SAR Max value
- OrderSizeLots – Fixed order Size in Lots
- StopLossPoints – Stop Loss distance from the entry price in Points (0 = No SL is set)
- TakeProfitPoints – Take Profit distance from the entry price in Points (0 = No TP is set)
- TrailingStopPoints – Trailing Stop distance in Points. When the Stop Loss distance from the current price is higher, the Stop Loss is adjusted closer to fit the preset level (0 = No TS is set)
Point – Minimal change in the asset quotation (usually the last digit)
Pip = 10 Points (regarding FX pairs)
Get the ParabolicSAR-Breakout forex strategy:
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