is it possible to create a script, ea or something else which sets the stop-loss to the actual Parabolic SAR level? For example: Open a long position, the SAR shows at this point a short-signal but it doesn't matter because you set a -maybe- default stop-loss. At the point, the SAR switches to a long-signal, the stop-loss should be placed at this point. In a short manner :) The stop-loss should be set to the Parabolic SAR points only in direction of the trade/opened position. This should be possible on every timeframe - for example: EUR/USD on 1h, GBP/USD on 4h, ...!
Some working code example here
SAR and stop-loss do not go hand-in-hand.
According to the TA documentation on SAR (and which I agree) SAR is appropriate for exiting due to trend-reversal, but as stop-loss it triggers far too earlier thus locking in your loss, for it to perform as a stop-loss.
@BarrowBoy: Thank you very much, this ea is exactly what I was looking for! :)
@blogzr3: SAR is very useful do exit the trades. I used this strategy for about 2 years and it's a profitable strategy but it's also a lot of work to change the stop-loss level manually every hour or 30 minutes.
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