2PSAR EA Source Code V1.07 MQ4 – A Powerful Dual Parabolic SAR Trading Strategy for MT4 - FREE DOWNLOAD

By: Aditi

Published on: Apr 24, 2025

Introduction to 2PSAR EA Source Code V1.07

Forex trading continues to evolve with the use of sophisticated Expert Advisors (EAs), enabling traders to automate strategies and reduce emotional trading. One such tool gaining attention is the 2PSAR EA Source Code V1.07 MQ4, a MetaTrader 4 (MT4) EA based on the powerful dual Parabolic SAR indicator.

The Parabolic SAR (Stop and Reverse) is a trend-following indicator designed to identify potential reversals in the market. The 2PSAR EA goes a step further by incorporating two Parabolic SAR indicators with distinct settings, aiming to filter out false signals and provide better entry and exit points.

This blog delves deep into the 2PSAR EA Source Code V1.07, exploring its structure, logic, strategy, customization options, and benefits for traders and developers alike.

What Is 2PSAR EA V1.07?

The 2PSAR EA (Expert Advisor) is an automated trading tool written in MQL4 (MetaQuotes Language 4) that operates on the MetaTrader 4 platform. Version 1.07 is the latest release, designed to execute trades based on the signals derived from two different Parabolic SAR indicators.

This EA opens buy or sell positions when both SAR indicators align in the same direction. The logic ensures more reliable confirmations before trade entries, reducing the risk of whipsaws often seen in trending and ranging markets.

Core Strategy and Logic

The underlying concept of the 2PSAR EA is straightforward but highly effective: it only executes a trade when both Parabolic SAR indicators give the same signal.

• Buy Condition: When both SAR indicators are below the price, it signifies a bullish trend. The EA opens a buy position.


• Sell Condition: When both SAR indicators are above the price, it indicates a bearish trend. The EA executes a sell order.


• No Trade Zone: If the two SAR indicators give conflicting signals, the EA remains inactive, avoiding unnecessary trades.

This dual confirmation method helps filter out weaker or indecisive signals, increasing the probability of successful trades.

Key Features of 2PSAR EA Source Code V1.07

1. Dual SAR Confirmation: Uses two customizable Parabolic SAR settings to validate signals.


2. Customizable Inputs: Traders can set SAR step and maximum values for each indicator independently.


3. Automatic Lot Calculation: Supports fixed lot size or dynamic risk-based lot calculation.


4. Built-in Stop Loss and Take Profit: Configurable SL and TP levels to manage risk and reward.


5. Trailing Stop Feature: Lock in profits as the trade moves in your favor.


6. Trade Time Filters: Option to restrict trading to specific hours of the day.


7. Source Code Access: Developers can fully customize the EA with provided MQ4 source code.

Advantages of Using 2PSAR EA

1. Enhanced Signal Accuracy
   By combining two SAR indicators with different sensitivity levels, the EA increases the reliability of entry points. This reduces the impact of false breakouts.


2. Hands-Free Trading
   With full automation, traders can avoid emotional decisions. The EA runs based on predefined logic and parameters.


3. Highly Customizable
   Since the source code is provided, users can tweak every aspect of the EA to suit their trading strategy or market behavior.


4. Risk Management Control
   Traders can define their own risk tolerance with adjustable SL, TP, lot sizes, and trailing stops.


5. Backtest and Forward Test Friendly
   The EA can be easily tested with historical data and demo accounts to evaluate performance before live trading.

How to Use the 2PSAR EA V1.07 on MT4

1. Download and Extract Files
   After downloading the EA, extract the files and locate the .mq4 source code.


2. Place the File in MT4
   Navigate to your MetaTrader 4 directory → MQL4 → Experts, and paste the .mq4 file.


3. Compile the EA
   Open MetaEditor from MT4, load the 2PSAR EA file, and click "Compile". This generates the .ex4 executable file.


4. Attach the EA to a Chart
   Drag the EA onto your preferred chart, preferably a trending currency pair.


5. Adjust Input Settings
   Set your parameters like lot size, stop loss, take profit, trailing stop, and SAR values. Enable "Allow live trading".


6. Start Trading
   Once configured, the EA will start scanning the market and place trades automatically when conditions are met.

Customization Tips for Developers

Because the EA is delivered with open-source MQ4 code, developers have the freedom to:

• Integrate additional filters such as RSI, MACD, or Moving Averages.


• Modify the trade management logic to include break-even strategies or partial close options.


• Convert the EA into a multi-timeframe or multi-currency system.


• Add a dashboard for monitoring trade status and SAR positions.


• Implement risk management enhancements like equity protection.

With MQL4 experience, you can transform this EA into a robust personal trading assistant.

Performance Considerations

While the 2PSAR EA shows promising results in trend-following markets, it may underperform in highly ranging conditions. To maximize effectiveness:

• Use on trending pairs like EUR/USD, GBP/JPY, or XAU/USD.


• Avoid news events that create volatility.


• Test different timeframes such as M15, H1, and H4.


• Monitor drawdown and adjust risk settings accordingly.

Always conduct thorough backtesting and forward testing before deploying in a live account.

Best Timeframes for 2PSAR EA

The recommended timeframes for optimal performance are:

• M15 (15-minute)


• H1 (1-hour)


• H4 (4-hour)

Lower timeframes may produce more signals but are prone to noise. Higher timeframes offer better filtering and trend reliability.

Final Thoughts

The 2PSAR EA Source Code V1.07 MQ4 is an excellent solution for both traders and developers looking to automate a reliable trend-following strategy. The dual Parabolic SAR approach filters out weak signals, offering higher confidence in trade setups.

By providing access to the source code, the EA not only serves as a ready-to-use trading tool but also a solid foundation for advanced customization. Whether you’re a beginner exploring automated trading or a seasoned coder fine-tuning systems, this EA offers versatility, efficiency, and opportunity.

Download the EA, test it on a demo account, and start optimizing it to suit your personal trading style.

⚡️Upgrade

Future versions may include multi-indicator confluence, dashboard displays, mobile alerts, and machine learning-based trend filters. Stay updated to leverage every enhancement that sharpens your edge in the forex market.

Happy Trading!