How to add Trailing Stop using Parabolic SAR
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Using the Parabolic SAR for a trailing stop is especially useful in trending markets, where this tool helps to maximize profits while allowing you to keep a position open as long as the trend continues. However, keep in mind that during flat periods or low volatility, using Parabolic SAR may lead to premature closing of positions due to frequent changes in the position of the indicator dots.
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Price Action Analysis Toolkit Development (Part 14): Parabolic Stop and Reverse Tool
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In this article, we focus on developing an Expert Advisor (EA) using MQL5, designed to identify potential market reversals. The EA employs the Parabolic SAR for signal detection, generating trading signals by monitoring technical indicators, evaluating their validity in real time, and identifying optimal exit points when predefined levels are reached.
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