MT5 PSAR and MACD EA

A relatively simple EA to follow trends for small targets and stops based on PSAR and MACD Histogram. To catch trades after a retracement that are in the process of breaking out beyond the nearest previous peak. This is experimental, so some elements will be specified as optional so that back-testing can be used to see if they really add value.

The idea is to base entries on the A B C price pattern (see diagrams supplied in the attached spec) which the EA validates to confirm a trend.  The MACD histogram is used to confirm whether a buy or sell trend is in place still in place.  The MACD signal line is not used.

The start point of each new PSAR runs indicates a new potential trade (Point C) the previous 2 PSAR runs indicate points B and A.

When the rules are met an entry takes place after a retracement as soon as price reaches point B again. The EA should not wait for a candle to open or close once the price reaches point B!

NOTE.  I have used the PSAR because it is a very easy visual way to identify the exact values of A, B and C.  I know that the PSAR can repaint while a candle is active, which might also be the entry candle!  If you are aware of another indicator that achieves something similar without repainting, please let me know. Again, the diagrams supplied should help a lot with the description.

The requirements include the usual trade management features, calculation of lot size, break even stop, trailing stop etc.  I imagine most freelancers will have a standard structure, so let me know if I am asking for anything awkward.  I can always do things your way if that makes the job a lot simpler.

Very happy to answer any questions.

Regards,

Ian