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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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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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The Parabolic Stop-And-Reverse (SAR) indicator and the Relative Vigour Index (RVI) oscillator are our next pairing to consider within these series. This time, this duo brings together trend identification with momentum tracking. As we have in past articles, we consider 10 possible signal patterns that can be generated from combining these two indicators, and we have them tested in a wizard assembled Expert Advisor. With that, let's look at the definitions of these 2 indicators.