2PSAR EA V1.07 MT4: A Comprehensive Guide to This Powerful Trading Expert Advisor

Introduction

In the world of forex trading, automation is becoming increasingly popular among traders who want to leverage market movements without being tied to their screens 24/7. One of the expert advisors (EAs) that has been gaining attention is the 2PSAR EA V1.07 MT4. This trading bot utilizes the Parabolic SAR (Stop and Reverse) indicator to execute trades efficiently while minimizing risks.

If you’re looking for a trading robot that can help you capitalize on trending markets with optimized risk management, then 2PSAR EA V1.07 MT4 might be the perfect solution. In this blog, we’ll dive deep into its features, functionalities, settings, and why it could be a great addition to your forex trading strategy.

What is 2PSAR EA V1.07 MT4?

The 2PSAR EA V1.07 is an automated trading system designed for the MetaTrader 4 (MT4) platform. This expert advisor is built around the Parabolic SAR (PSAR) indicator, which is widely used to determine potential reversal points in the market. The EA operates by analyzing two different PSAR settings to generate entry and exit signals with improved accuracy.

The 2PSAR EA V1.07 is particularly useful for traders who prefer trend-following strategies while minimizing risks associated with sudden market reversals. It is optimized to work in various market conditions, making it a reliable tool for both novice and experienced traders.

Key Features of 2PSAR EA V1.07 MT4

1. Dual PSAR Strategy

Unlike standard PSAR-based EAs, the 2PSAR EA V1.07 uses two different PSAR settings to filter out false signals and improve trade accuracy. This helps in reducing premature exits and enhances trade reliability.

2. Fully Automated Trading

The EA executes trades automatically based on the defined PSAR parameters, freeing traders from manual interventions. This ensures emotion-free trading and a more disciplined approach.

3. Customizable Parameters

The EA allows traders to customize various settings, including:

PSAR values for trend confirmation
Lot size for position sizing
Take profit and stop loss levels
Trailing stop settings for maximizing profits

4. Works on Multiple Currency Pairs

The 2PSAR EA V1.07 is designed to be used on multiple currency pairs, offering flexibility in trading. Some of the recommended pairs include:

EUR/USD
GBP/USD
USD/JPY
AUD/USD
USD/CHF

5. Compatible with Multiple Timeframes

Traders can use this EA on different timeframes, from M5 to H1, depending on their trading style and risk appetite.

6. Risk Management Features

The EA includes:

Fixed and dynamic lot sizing options
Stop-loss and trailing stop functionality
Break-even settings to secure profits

7. Easy to Use and Install

The EA is user-friendly and comes with a simple installation process, making it suitable even for traders with limited technical knowledge.

How Does 2PSAR EA V1.07 Work?

The 2PSAR EA V1.07 functions based on the Parabolic SAR indicator, which is designed to identify potential trend reversals. Here’s a step-by-step breakdown of how it works:

Analyzing the Market with Two PSAR Indicators
- The EA uses two different PSAR indicators to confirm trend direction.
- When both PSAR values align in the same direction, it signals a strong trend.
Trade Entry Signals
- A buy trade is executed when both PSAR indicators signal an uptrend (dots appear below the price).
- A sell trade is executed when both PSAR indicators signal a downtrend (dots appear above the price).
Stop-Loss and Take-Profit Placement
- The EA automatically places a stop-loss at a calculated level to minimize risk.
- It also sets a take-profit based on user-defined settings or dynamic market conditions.
Trailing Stop Feature
- The EA includes a trailing stop mechanism to lock in profits as the trade moves in a favorable direction.
- This prevents giving back gains if the market reverses suddenly.
Trade Exit Strategy
- Trades are closed either when the price hits the take-profit level, or when the PSAR indicators signal a trend reversal.
- The EA also incorporates a break-even feature, allowing traders to secure profits without risking too much.

Recommended Settings for 2PSAR EA V1.07

1. Minimum Deposit

The EA can work with a minimum deposit of $100 for micro accounts.
For better performance and risk management, a deposit of $500+ is recommended.

2. Timeframe Selection

M5 and M15 for short-term scalping.
M30 and H1 for intraday trading.

3. Recommended PSAR Settings

First PSAR: Step 0.02, Maximum 0.2
Second PSAR: Step 0.03, Maximum 0.3

4. Lot Sizing Strategy

Fixed Lot Size: 0.01 (for small accounts)
Dynamic Lot Size: 1-2% of account balance

5. Stop Loss & Take Profit

Stop Loss: 20-50 pips (depending on volatility)
Take Profit: 50-150 pips (or trailing stop)

6. Trailing Stop Settings

Trailing Stop Start: 20 pips
Step Size: 5 pips

Pros and Cons of 2PSAR EA V1.07

Pros:

Fully automated and user-friendly
Works on multiple currency pairs
Adjustable PSAR settings for improved accuracy
Built-in risk management tools
No need for manual intervention
Supports trailing stop and break-even strategies

Cons:

May struggle in ranging or highly volatile markets
Requires proper optimization for best results
Not suitable for news trading or sudden market spikes

How to Install and Set Up 2PSAR EA V1.07 on MT4?

Download the EA File
- Obtain the 2PSAR EA V1.07 file and save it to your computer.
Move the File to MT4
- Open MT4, go to File > Open Data Folder > MQL4 > Experts, and paste the EA file there.
Restart MT4
- Close and reopen MT4 to load the EA into the system.
Attach the EA to a Chart
- Open a currency pair chart and drag the EA onto it.
Adjust the Settings
- Modify the PSAR values, lot size, stop-loss, and trailing stop settings according to your preference.
Enable Auto-Trading
- Click on the AutoTrading button in MT4 to allow the EA to execute trades.

Final Thoughts: Is 2PSAR EA V1.07 MT4 Worth Using?

The 2PSAR EA V1.07 MT4 is a powerful automated trading tool designed to maximize profits using a dual Parabolic SAR strategy. It offers robust risk management features and works well on multiple timeframes and currency pairs. However, like any trading bot, it requires proper optimization and backtesting before live trading.

If you’re looking for an easy-to-use and reliable EA that follows a trend-based strategy, this EA can be a great addition to your trading portfolio. Just ensure that you have proper risk management in place and monitor the EA’s performance regularly.

2PSAR EA V1.07