2PSAR EA Source Code V1.07 MQ4 – Free Download & Trading Strategy

By: Aditi

Published on: Apr 01, 2025

Introduction

Automated trading has revolutionized the forex market, allowing traders to execute strategies without manual intervention. One such powerful tool is the 2PSAR EA V1.07 MQ4, an Expert Advisor (EA) designed for MetaTrader 4 (MT4).

In this blog post, we’ll explore:
✅ What is the 2PSAR EA?
✅ How does it work?
✅ Key features of V1.07 MQ4
✅ How to install and optimize it
✅ Pros and cons of using this EA
✅ Free download link for the source code

Let’s dive in!

What is the 2PSAR EA?

The 2PSAR EA is an automated trading system based on the Parabolic SAR (PSAR) indicator, a popular tool developed by Welles Wilder. This EA uses two PSAR indicators to generate buy and sell signals, improving accuracy in trend-following strategies.

Why Use the 2PSAR EA?

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  Automated trading – Executes trades without manual input.

  
  


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  Trend-following strategy – Works best in trending markets.

  
  


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  Customizable settings – Adjust risk, lot size, and trading hours.

  
  


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  Free MQ4 source code – Allows modifications for advanced traders.

  
  

How Does the 2PSAR EA Work?

The EA operates using two PSAR indicators with different settings to confirm trade entries and exits. Here’s how it works:

1. 
   

   Entry Signal:

   
   
   
   
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     A buy signal is generated when both PSAR indicators are below the price.

     
     
   
   
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     A sell signal is triggered when both PSAR indicators are above the price.

     
     
   
   
   
   


2. 
   

   Exit Signal:

   
   
   
   
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     The trade closes when the PSAR flips to the opposite side.

     
     
   
   
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     Stop Loss (SL) and Take Profit (TP) can also be set manually.

     
     
   
   
   
   

Best Timeframes & Currency Pairs

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  Recommended Timeframes: M15, M30, H1

  
  


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  Best Pairs: EUR/USD, GBP/USD, USD/JPY (works well in trending conditions)

  
  

Key Features of 2PSAR EA V1.07 MQ4

✅ Dual PSAR Confirmation – Reduces false signals.
✅ Adjustable Risk Management – Set lot size, SL, TP, and trailing stops.
✅ Flexible Trading Hours – Trade only during specific market sessions.
✅ Free & Open-Source – Modify the MQ4 code as needed.

How to Install & Optimize the 2PSAR EA

Step 1: Download the EA

1. 
   

   Get the 2PSAR EA V1.07 MQ4 file from the link below.

   
   


2. 
   

   Save it to your computer.

   
   

Step 2: Install on MetaTrader 4

1. 
   

   Open MT4 → Click File → Open Data Folder.

   
   


2. 
   

   Navigate to MQL4 > Experts and paste the .mq4 file.

   
   


3. 
   

   Restart MT4.

   
   


4. 
   

   Drag and drop the EA onto your chart.

   
   

Step 3: Optimize Settings

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  Risk per Trade: 1-2% of account balance.

  
  


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  Trailing Stop: Activates after a certain profit.

  
  


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  Max Spread: Avoid trading during high spreads.

  
  

Pros & Cons of 2PSAR EA

✅ Pros

✔ Works well in trending markets.
✔ Customizable risk settings.
✔ Free and open-source.

❌ Cons

✖ May struggle in sideways markets.
✖ Requires optimization for best results.

Free Download: 2PSAR EA V1.07 MQ4 Source Code

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Final Thoughts

The 2PSAR EA V1.07 MQ4 is a powerful tool for traders who prefer automated trend-following strategies. Since it’s open-source, you can tweak the code for better performance.

Have you tried this EA? Share your experience in the comments!

FAQ

Q: Is the 2PSAR EA free?
A: Yes, the source code is free to download and modify.

Q: Which broker is best for this EA?
A: Use a low-spread ECN broker for optimal performance.

Q: Can I use this EA on MT5?
A: No, this version is for MT4 only, but you can convert it using a code converter.

By following this guide, you can start using the 2PSAR EA V1.07 MQ4 to automate your forex trading. 

Happy trading! ????