Create EA using Parabolic SAR and Stochastic Indicators

Hi,

Here is my vision.

Any timeframe EA that uses the Parabolic SAR as a primary entry and is validated by the Stochastic oscillator to confirm direction. The settings of the Parabolic SAR and Stochastic would typically be the MT5 default settings, but the should be a variable on the EA.

The operating principle for the EA is there are two types of trades PRIMARY TRADES and SECONDARY TRADES. I have described each, and attached some trade examples which are detailed below. I want to ability to turn secondary trends on or off. There can be multiple secondary trades entered.

PRIMARY TRADES

ENTRY

Use the Parabolic SAR as a trigger and check the trade with the Stochastic to confirm trade direction. A trade is entered when the Parabolic SAR changes direction (TRIGGER). This would typically occur on the first indicator by default, but I would like this to be a variable of the EA (PARABOLIC DELAY). The trade direction (Long/Short) would be confirmed by the Sotcastic. i.e. If the Parabolic SAR switches to a long, but the Stochastic is trending short, there is not trade. NO EXAMPLE AVAILABLE.

Prior to entering a trade, the Stochastic is used and a validation, criteria as follows:

• Stochastic confirms the direction proposed by the Parabolic SAR.

AND

• Stochastic is not in the overbought/oversold range (which would be a setting variable in the EA).

EXIT

When the Stochastic indicator crosses over for the first time. There needs to be a drop down box to allow selection of:

• Closing as soon as the Stochastic crosses over (mid candle)
• or to close the trade at the close of the candle.

SECONDARY TRADES

 Use the Stochastic to trigger a trade when the direction of the Parabolic is re-confirmed. There are attached images - Trades 1, 2 & 3 all have a secondary entry.

Prior to entering a secondary trade, the following criteria must be validated:

• Parabolic SAR has not changed direction. If it changes direction, the PRIMARY TRADE assessment is considered.

AND

• If the Parabolic SAR has not changed state, the Stocatic is outside of the overbought/oversold range.

COMMENTARY ON TRADE EXAMPLES

TRADE 1 - COLOURED BLUE

When the Parabolic SAR changes state, this would trigger a long position. The stochastic is checked, and is above the overbought range of 70, so there is no trade (Trade 1.a).

The Stochastic remains in a downward trend for 4 candles before crossing over to trigger a long position. Since the Parabolic SAR has not changed state (always long) and the Stochastic is below 70, a trade is entered (Trade 1.b). It is exited at the downward crossover of the Stochastic 3 candles later. This is a low value trade, but I want the flexibility there so we don't miss large trends.

The Parabolic SAR changes state at the top of a large bearish candle. The entry trigger is at the opening of this candle. This is validated by the Stochastic which is bearish and outside of the oversold range of 30 so we enter a short position (Trade 2.a)

A trade is exited somewhere in the 4th candle due to the Stochastic crossover and is a profitable trade.

There is a secondary trade 5 candles later (Trade 2.b) when the Stochastic crosses back to bearish. This triggers another short entry that is exited 4 candles later when the Stochastic crosses back to bullish.

There is another secondary trade (Trade 2.c) in this section also. Not very profitable but shows there can be multiple secondary trades in this EA.

TRADE 3 - COLOURED GREEN

The Parabolic SAR switches back to a long position, which is confirmed by the Stochastic (Same directiona nd outside of the overbought), se we enter a long trade (Trade 3.a). This is exited 5 candles later because of the Stochastic crossover.

A secondary trade (Trade 3.b) is entered 11 candles later as the Stochastic crosses back to a long confirmation. This is exited 4 candles later.

OTHER VARIABLES IN THIS EA

I would also like to see the following input parameters/variables in this EA.

• Take Profit - user input
• Stop Loss - user input
• Position Sizing - By Risk % (Account Balance) or Manual Lot sizing
• Timing of trades - entering/excluding session times or GMT times
• Days of the week - include/exclude trading certain days of the weeks