Hey traders! Today, let’s dive into an interesting tool from the MQL5 Wizard that combines MACD (Moving Average Convergence/Divergence) and the Parabolic SAR trend indicator. This Expert Advisor (EA) is designed to help you streamline your trading strategy right in MetaTrader 5.
This EA operates at the moment a new bar appears, which can be a game changer in your trading sessions!
Key Features of the MQL5 Wizard MACD Parabolic SAR EA
- Expert Title: MQL5 Wizard MACD
- Magic Number: 756
- Every Tick Execution: False
Input Parameters
| Variable | Value | Disclaimer |
|---|---|---|
| Signal threshold to open [0...100] | 20 | This is the threshold to open a position. Valid range from "0" to "100". |
| Signal threshold to close [0...100] | 100 | This is the threshold to close a position. Valid range from "0" to "100". |
| Price level to execute a deal | 0.0 | Distance from the current price. "0" means open at the current price, "-xx" places pending Stop orders, and "+xx" places pending Limit orders. |
| Stop Loss level (in points) | 50.0 | This indicates the price level for Stop Loss. |
| Take Profit level (in points) | 115.0 | This indicates the price level for Take Profit. |
| Expiration of pending orders (in bars) | 5 | This is the lifetime of pending orders measured in bars. |
| MACD Period of fast EMA | 12 | Period for the fast EMA in the MACD. |
| MACD Period of slow EMA | 24 | Period for the slow EMA in the MACD. |
| MACD Period of averaging of difference | 9 | Moving average period for the MACD indicator. |
| MACD Prices series | PRICE_CLOSE | Type of prices used for MACD calculations. |
| MACD Weight [0...1.0] | 0.9 | Weight of MACD signals. |
| Parabolic SAR Speed increment | 0.02 | Acceleration factor for Parabolic SAR. |
| Parabolic SAR Maximum rate | 0.2 | Maximum step for Parabolic SAR. |
| Parabolic SAR Weight [0...1.0] | 0.1 | Weight of Parabolic SAR signals. |
In our testing, we ran the EA on the EUR/USD pair with a timeframe of M15 from January 10, 2016, to January 11, 2017, starting with an initial deposit of $30,000:
Comments 0