Introduction
Meet the PSAR Strategies EA mt5 – another addition to the never-ending universe of trading robots. It’s based on the Parabolic SAR indicator, a classic technical analysis tool. With no reviews or ratings on the marketplace, this robot stands as a mystery. Let’s dissect this piece of software and see if it’s worth your time and money.Features Description
The PSAR Strategies EA mt5 is designed to work with the Parabolic SAR (Stop and Reverse) indicator. Here are some of its main features:- Multiple Trading Strategies: The EA supports various strategies utilizing PSAR, including trend-following and reversal strategies.
- Risk Management: Offers adjustable risk management settings, including stop loss and take profit.
- Timeframe Flexibility: Operates on multiple timeframes, providing flexibility to the user.
- Customizable Parameters: Users can modify PSAR parameters to fit their trading style.
- Automated Trading: Executes trades automatically without human intervention.
- Backtesting Capability: Allows users to backtest different strategies to see their performance historically.
Results Analysis
Let’s get down to the results – or the lack thereof. With no user reviews or ratings, analyzing the performance becomes a challenge. According to the official website, the robot’s performance over the last year seems ambiguous at best. They present some fancy charts and numbers, but without third-party verification, it's hard to swallow.Pros and Cons
Let’s break it down:Pros:
- Automated Trading: Frees you from the screen, executing trades around the clock.
- Customizable: Tailor it to your trading preferences.
- Backtesting: Test strategies before going live.
Cons:
- Lack of Transparency: No user reviews or independent ratings.
- Questionable Performance: Results are not verified by third parties.
- Limited Functionality: It’s another robot based on a single indicator – hardly innovative.
Conclusion
The PSAR Strategies EA mt5 offers some decent features but leaves much to be desired in terms of transparency and proven performance. I remain skeptical about its real-world efficacy. However, if you’re willing to take the plunge, don’t forget to share your experiences and results on forums. It might help others make a more informed decision.Source Code for PSAR Strategies EA mt5
We don’t have access to the original source code for the PSAR Strategies EA mt5 sold on MQL5, but we can create a custom version based on its described functionalities. If you have specific needs or questions about the code, feel free to ask. Remember, this is just an example from easytradingforum.com inspired by the commercial version.
Code:
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