MA PSAR EA

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5 min or 15 min Envelop PSAR EA

Indicators

1.     200 EMA – Median price

2.    Envelopes – 200 EMA Deviation 0.02%

3.    PSAR – default setting – increment – 0.02 | max – 0.2

Thesis

1.     200 EMA shows the major trend

a.     Price closes above 200 EMA is a signal to go long

b.    Price closes below the 200 EMA is a signal to go short.

2.    Moving average envelope is to filter out whipsaw

a.     The price has to close about the upper band to take long orders

b.    The price has to close below the lower band to take short orders.

3.    PSAR is the confirmation and also stop loss level

a.     When price closes above both the EMA and above the upper band and PSAR is formed below the candle, we open a long order

                                          i.    We use PSAR level of the previous confirmation candle as a stop loss order

                                         ii.    As the price moves above, we change the stop loss accordingly

                                        iii.    There will be times when few candles will be formed with PSAR above the candle, in this case the PSAR level which was formed below the candle is used.

                                        iv.    When the price hits the PSAR level, we close the order

                                         v.    Hopefully, our trailing stop loss should have booked profit by then.

b.    When price closes below both the EMA and below the upper band and PSAR is formed above the candle, we open a short order

                                          i.    We use PSAR level of the previous confirmation candle as a stop loss order