SAR Trailing Stop is a custom money management strategy for Trading Station that adjusts an existing stop or creates a new stop (if none exists) using the Parabolic SAR (Stop and Reverse) indicator as a reference.
It is already common practice for many traders to use the SAR indicator to help decide where to manually place stop orders for their positions. But with the SAR Trailing Stop strategy, stops are automatically created/adjusted for you based on SAR in real time.
*Note – the fields within the ‘FIFO Settings’ parameters section of the strategy apply to accounts based in the US only (FXCM LLC accounts). If your account is non-US, the strategy will manage your existing stop or create a stop if none exists regardless of what these parameters are set to.
The following are inputs available in the application:
- Trade Ticket – Select which position will have the stoploss applied. (Ticket ID is located inside the ‘Open Positions’ window)
- Account – Selects which account to trade on
Parabolic SAR Settings
- TF – Time frame (‘t1’, ‘m1’, ‘m5’, etc.) that the Parabolic SAR is based on
- Step – Also known as ‘Acceleration Factor’ ; multiplier that determines the rate-of-change of the SAR, thus determining its sensitivity.
- Max – The maximum value of Step
- Pip Offset – Pip Offset set to ‘0’ would set the stop loss order to the exact price of SAR for the current bar. Pip Offset set to a positive number (for example, 5) would set the stop loss 5 pips beyond the current SAR value. Pip Offset set to a negative number (for example, -5) would set the stop loss 5 pips before the current SAR value. Regardless of whether the position is a buy trade or a sell trade, a Pip Offset set to a positive number will result in a stop set further away than the current SAR value.
- Only Positive Stop Movement? – Select ‘No’ if you want your stop to move to any value that SAR generates. Select ‘Yes’ if you want to restrict your stop to move only in a positive direction (So, for buy positions, your stop will only move to a higher price… and for sell positions, your stop will only move to a lower price. Any SAR values that would move your stop further from your trade’s entry price will be ignored
FIFO Settings (Used Only for US-based Accounts):
- Manage Existing Stop? – Select ‘yes’ if you already have an existing stoploss that you want the strategy to manage. Select ‘no’ if you want the strategy to create a new stoploss that the strategy will manage. ***This input is only used for US-based Accounts***
- Stop OrderID – Existing Order you would like the strategy to actively move. Only used if you selected ‘yes’ above for Manage Existing Stop. ***This input is only used for US-based Accounts***
The application displayed on this page does not take in to consideration your individual personal circumstances and trading objectives. Therefore it should not be considered as a personal recommendation or investment advice. Past performance is not indicative of future results.
There is no guarantee that the systems, trading techniques, trading methods, and/or indicators will result in profits or not result in losses.
This Indicator is only compatible with FXCM Trading Station Desktop software. Additionally, an FXCM account is required (including free FXCM demo accounts).
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