OST Parabolic SAR

OST Parabolic SAR Expert Advisor is a VertexFX client-side script based on the Parabolic Stop-And-Reverse (P-SAR) indicator.

This Expert Advisor employs two Parabolic SAR indicators, one for entry and one for exit. As the name implies, this Expert Advisor uses the stop-and-reverse mechanism, and hence its signals alternate between LONG and SHORT. It is highly successful in cyclical markets, but its performance degrades in sideways or neutral markets.

OST Parabolic SAR Expert Advisor trades between starting time specified by START_HOUR and START_MINUTE, and the ending time specified by END_HOUR and END_MINUTE. During the inactive period the Expert Advisor only tracks the exit rules and ignores all entry rules.

The Expert Advisor opens a BUY trade when the entry Parabolic SAR based on the TRADE_STEP and TRADE_MAX parameters generates a BULLISH signal. If a BUY trade is already open, then the signal is ignored, whereas if a SELL trade is open, it is closed and then the BUY trade is opened. Similar rules are applied when a SELL signal is generated by the entry Parabolic SAR indicator. If MONEY_MANAGEMENT is TRUE, the lot-size is calculated based on the Account Balance and the
RISK_PERCENT parameters, otherwise the fixed LOT_SIZE value is used.

The initial stop-loss is based on the Average True Range indicator calculated using the ATR_PERIOD and ATR_MULTIPLIER parameters. Additionally, to protect profits and respond to adverse market movements, the Expert Advisor uses the exit Parabolic SAR calculated from the STOP_STEP and STOP_MAX parameters for a tighter trailing stop and reversal criteria.

When a position reaches profit which is equal to the initial stop-loss, the Expert Advisor moves the stop-loss to the entry price if BREAKEVEN is set to TRUE. Likewise, if PARTIAL_CLOSING is set to TRUE, it closes half of the position upon reaching this profit milestone.
The Expert Advisor does not use a profit target for the open positions. The open positions are closed by the initial-stop, the trailing stop or based on the MACD exit rules. By not using a fixed profit target, the Expert Advisor capitalizes on generating huge profits when the trend is very strong and continues for a long time.

Configurable Inputs:

1. START_HOUR– Specifies the starting hour when the Expert Advisor starts. This value should be between 0 and 23.

2. START_MINUTE – Specifies the starting minute when the Expert Advisor starts. This value should be between 0 and 59.

3. END_HOUR– Specifies the ending hour at which the Expert Advisor stops. This value should be between 0 and 23.

4. END_MINUTE– Specifies the ending minute at which the Expert Advisor stops. This value should be between 0 and 23.

5. TRADE_STEP– Specifies the Parabolic SAR step value for trade entries.

6. TRADE_MAX– Specifies the maximum value of the Parabolic SAR step for trade entries.

7. STOP_STEP– Specifies the Parabolic SAR step value for trade exits.

8. STOP_MAX– Specifies the maximum value of the Parabolic SAR step for trade exits.

9. SHIFT – The number of candles from the latest candle based on which the trading levels are calculated. For example, if this value is 1, the Expert Advisor calculates the trading levels based on the previous candle. If this value is 0, then the Expert Advisor calculates the trading levels based on the current candle.

10. TRADING_PERIOD – The number of candles over which the Highest High and Lowest Low values are calculated for the trading signals. For example, if this value is 40, then the Expert Advisor calculates the Highest High and the Lowest Low over the recent 40 candles.

11. STOP_PERIOD– The number of candles over which the Highest High and Lowest Low values are calculated for the exit (stop-loss) signals. For example, if this value is 20, then the Expert Advisor calculates the Highest High and the Lowest Low over the recent 20 candles – which is then used as the stop-loss levels.

12. TS_ENABLED– Specifies whether the trailing stop using the Average True Range is enabled.

13. TS_ATR_PERIOD– The number of candles over which the Average True Range (ATR) is calculated for trailing stop-loss purpose.

14. TS_ATR_MULTIPLIER – The multiplier applied to the Average True Range (ATR) to derive the trailing stop-loss value.

15. MONEY_MANAGEMENT – Specifies whether the lot-size should be calculated based upon the Account Balance and the risk. If this value is false, the lot-size is fixed and based upon the LOT_SIZE parameter.

16. RISK_PERCENT – The maximum risk per trade allowed in percentage for each trade. If MONEY_MANAGEMENT is enabled the lot-size is calculated based upon the maximum loss that will be incurred if the stop-loss is hit. For example, if this value is 2 (%) and the Account Balance is $1000, then the maximum risk per trade allowed is $20.

17. LOT_SIZE – The fixed lot-size to be used if MONEY_MANAGEMENT is set to false.

18. PARTIAL_CLOSING – Specifies whether half of the position must be closed when it reaches profit with a risk reward ratio of 1.

19. BREAK_EVEN – Specifies whether breakeven stop-loss must be used.

20. SLIPPAGE– The maximum slippage in points that is allowed for opening market orders. If this value is 0, then the slippage criteria is ignored.

Usage

• Download the attachment from vStore or directly from the vStore tab in your terminal by performing a right click on it and selecting Download & Install
• Copy it to your company VertexFX Local VTL Files folder i.e. C:ProgramDataVertexFX Client Terminals”Company name”VTL10Local VTL Scripts
• Restart your Client Terminal or Right Click on “Local VTL Scripts” Tree Node to find the script.