Parabolic SAR Retracement Limit Orders with Configurable Risk

Summary

This MetaTrader 4 tool places pending buy and sell limit orders at a retracement distance from the Parabolic SAR value. For a sell limit, the reference is the bid price; for a buy limit, it is the ask price. The retracement distance, position size, stop loss, and take profit are configurable through global variables.

A further setting adjusts for the difference between Eastern Time and local time. The description explains the order-placement concept and its controls, but gives no entry examples, market selection, testing results, or rationale for choosing parameter values. It therefore serves as a concise description of an order-entry utility rather than evidence that the approach is profitable. Traders would need to assess execution behavior and risk settings in their own market and broker conditions.

Key ideas

• The tool places buy and sell limit orders at a configurable distance from the Parabolic SAR value.
• Sell orders reference the bid, while buy orders reference the ask.
• Global settings control retracement distance, stop loss, take profit, and lot size.
• A time-offset setting accounts for the difference between Eastern Time and local time.
• The description provides no performance evidence or guidance for selecting parameters.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.