I am Re-introducing FX Rogue Wave version 4.0 with update 3 which is a straddle EA.
5 years of back testing. No more than a single sequence loss or two within 5 years. 1 month of forward testing no sequence losses. Now running on live account as we all know that back test results can vary from Forward Demo Account results that can vary from Live Real Money Accounts. Only way to be sure is to use it on a live account.
At specific times each day (using Market Open which can be different for some pairs) a 25 to 40 pip horizontal channel will be created. Entry is made when channel is breached. Stop Loss is at opposing channel side. Take Profit is 1x channel size. If loss occurs, next breach of channel creates next order in sequence at 2x multiplier recovering loss. A close in profit ceases trade sequence and EA resets for next day's trading. 8 consecutive losses ends trade sequence limiting overall trade sequence loss.
Uses mini martingale. Order sequence in loss can be .01, .02, .04, .08, .16, .32, 64 and 1.28 lots in order. Approximately $500 risk for entire sequence when initial order is .01.
This live test is using absolute minimum in account balance to function.
EA is not ready for production (or sale). But I thought I would post results of this version to see if it can pass the milestones I have set for it.
Signals available here if after a month or two, it is doing well, folks can share.
Once account doubles, I will open up for signal subscription. There have been so many revisions over the years that I would have to make major changes to make it available to the public. Provided that this live test is as successful as the back tests...or at least close.
Back tests below use no indicators, only beginning trade sequence at Market Open. Nor do they include any MM. All trades are at base levels. I think if the human mind were added and used when to start a trade sequence and when to increase investment, results would be greatly improved.
8/26/2017 EDIT: I have started the development of an EA for public use and purchase based on this algorithm. FIFO and NFA compliant. Please enter your vote in the poll if interested. This version will allow auto trading based solely on market open (or time of your choice). It will also function as a stand alone straddle trading tool that you can use with your own indicators to channel trade at times of your choice, high volatility and news. It will be announced shortly and available in the MT4 Marketplace.
In preparation for the upcoming release:
Leverage/Equity requirements - your account must be able to handle the following based on minimum requirements:
1:500 Leverage = Approximately $1000.00 per initial lot size of .01.
Potential sequence pattern could be .01, .02, .04, .08, .16, .32, 64 and 1.28 lots in order based if 8 orders in sequence used. Most trade sequences do not require all the available orders to end in profit.
In the upcoming EA, you will be able to select more orders or less in sequence- increasing or reducing equity needed. But I am posting the following to show guidelines for use. Once you have the EA, you can experiment with what works best for your trading strategy. Even though the test results and my personal trading are positive, I designed the EA to be a trader's tool in the toolbox to help those that need to improve profitability in their trading.
1:400 Leverage = Approximately $1200.00 per initial lot size of .01.
1:300 Leverage = Approximately $1400.00 per initial lot size of .01.
1:200 Leverage = Approximately $1600.00 per initial lot size of .01.
1:100 Leverage = Approximately $2400.00 per initial lot size of .01.
1:50 Leverage = Approximately $4000.00 per initial lot size of .01.
If your account leverage and balance is not within these limits, do not subscribe to signals.
EDIT: 8/27/2017 While waiting for the EA to finish coding and testing, I thought I would start posting instructions.
The premise of the EA called FX ROGUE WAVE 6.0 is when placed on a chart, it will establish a horizontal channel with Entry and exit points based on x number of pips from current price. Top of channel a blue line will be created for Long entry point and Bottom of channel will be Red for SHORT entry point. Yellow lines will be created for estimated target close. These lines will move with price action until START button clicked, then the channel will lock in place for duration of trade sequence or until STOP button is clicked.
Using the presumption that the market cannot stay flat for long, it would be a rare occurrence for the market to stay within a 25-30 pip range for a long enough period that 1 of the orders in sequence will eventually catch the breakout and close in profit..FX Rogue Wave does not care what direction the market goes....as long as it goes there!
One order will be placed on chart if an entry line is crossed, LONG order for top entry point being crossed or SHORT order if lower entry point is crossed. Stop loss will be just before the opposing entry point.
If an order closes in loss, the EA will wait until there is a breach of the same or opposing entry point, in which a new order will be opened at a higher lot size based on order value sequence. Sequence will continue until last order in sequence closes in loss, STOP button is clicked, or sequence losses recovered in profit.
User Defined Variables:
OrdersInSequence: Default 8 but no limit. Enter 1 for single trade.
If last order in sequence closes in loss, EA will stop trading and display TRADING OFF
InitialOrderValue –
Value in lotsize for initial order, subsequent orders placed at higher lot size based on RecoveryMult.
RecoveryMultiplier: DEFAULT 2
(if InitialOrderValue =.01, the next order would be .02, then .04, then .08 etc.
ChannelSize: Default 20 Pips
Based on current price (Example: 20 pip channel would create lines 10 pips above/below current price to create the 20 pip channel).
Targetmultiplier: Default 1
Target is multiplier of current channel size. Target of 1 would be 1 x Channel Size or 20 pips. If Target was 2, it would mean target is 2 x ChannelSize or 40 pips. If target was 1.5, it would mean target is 1.5 x Channelsize or 30, etc. When Target is hit, EA closes order and enters TRADING OFF condition.
TrailingStop: TRUE/FALSE
If False, EA closes orders based on Target. If TRUE, EA will not close at Target but initiate Trailing Stop at Target level.
TrailingStopBeginLevel: (This is a value in pips) DEFAULT 2
If TrailingStop = TRUE, trailing stop will be initiated at target level and trail at value entered.
AutoTrade: TRUE/FALSE
If TRUE, EA will initialize as shown in initialization description below, but instead of START button being clicked, a AutoStartTime will be used. If False, EA session begins normally with the START button click only.
AutoStartTime: Default 10:00
MT4 Marketwatch time you would like sequence to be initiated. Can be used for Market open or just prior to a news event.
Slippage: Default 3
Retries: Default 10
1. Number of attempts to place trade if trade platform is busy or other errors occur.
OnscreenText: Color
OnscreenText: Location (top right, top left of chart placement)
OnscreenText: Font Size
ecnBroker: TRUE/FALSE
AutoMagicNumber: EA may be loaded on multiple charts concurrently – this can separate instances so order sequencing and profit calculation can be separate from one another.
Onscreen text will show
a. Title: FX RogueWave version 6.0 – Copyright 2017 – All Rights Reserved
b. ORDER NUMBER: Current Order IN SEQUENCE # 1-x with lotsize shown and next order to be entered with lotsize if loss occurs)
i.Example: “Currently trading order #3 in series at .08 Lotsize, Next order at .16 Lots.”
c. SPREAD: Current spread in pips including decimal point for less than 1 pip.
d. CHANNEL: Distance in pips between the two lines.
e. PROFIT: Profit or Loss of session for EA loaded for that pair only-not based on account balance.
f. STATUS:TRADING ON or TRADING OFF
i.Trading ON when EA is active
ii.Trading OFF (after order as closed in session profit or EA is no longer trading.
INITIALIZATION
Upon being loaded on chart (or STOP button is clicked), EA will be in TRADING OFF status. Lines will be drawn based on channel size and targets and those lines will move following price action. It will not open trades during TRADING OFF status.
It will draw a BLUE LONG entry line at a point above the current price ½ of channelsize.
It will draw a RED SHORT entry line at a point below the current price ½ of channelsize
Order Sequence will be reset to initial lot size as defined in InitialOrderValue variable
When START button clicked, trading sequence will start, TRADING ON will be displayed, lines will lock into position and will wait for entry line to be crossed. When TRADING ON is displayed, the lines are locked to a point to survive a system reboot or MT4 restart.
Initial Order Entry:
1. If price crosses entry line, a corresponding order will be placed.
Long order if Blue line is crossed. Lotsize determined based upon InitialOrderValue variable.
Short order if Red line is crossed. Lotsize determined based upon InitialOrderValue variable.
Order Close:
When initial InitialOrderValue hits target (Yellow Line). Order will close and EA will also stop trading and display TRADING OFF. STOP button should then be clicked to allow lines to start moving again.
Stop loss will be just before the opposing entry point
Re-entry:
In the event of a loss in the initial order and the price action crosses either line, a new order will be opened with a lot size based on next order in sequence. And all above rules in place.
If reversals and losses continue, this cycle will continue with next orders in sequence, until previous losses are regained or final order is used based on OrdersInSequence. If the last order closes in loss, the EA will stop trading and TRADING OFF will be displayed.
When losses are regained on any order that closes in profit, EA will stop trading and TRADING OFF will be displayed. If initial order closes in profit, EA will stop trading and TRADING OFF will be displayed.
If, at any time, the STOP button is clicked. Any open orders on chart will be closed and EA will re-initialize to TRADING OFF and InitialOrderValue.
EA IS NOT A STRATEGY UNTO ITSELF BUT IS A TOOL IN THE TOOL BOX. AS IT USES A MARTINGALE RECOVERY STRATEGY, BY DEFINITION, ITS USE IS HIGH RISK AND CAN BLOW AN ACCOUNT IF PROPER ACCOUNT BALANCE NOT MAINTAINED. AS USER HAS CONTROL OF WHEN EA IS USED THERE IS NO GUARANTEE OF SUCCESS. PAST HISTORY DOES NOT GUARANTEE FUTURE RESULTS. SIGNAL SUBSCRIBER AND EA PURCHASER ASSUMES ALL RISK.
There, got that out of the way. We all know, or should know the risk that Forex carries. I think this EA can be very profitable to those that use it wisely.
EDIT 9/2/2017 With bizarre spikes on broker, large draw down occured that is not indicitve of the system. Broker has credited affected accounts but draw down remains. Will post new data charts and signals next week.
5 years of back testing. No more than a single sequence loss or two within 5 years. 1 month of forward testing no sequence losses. Now running on live account as we all know that back test results can vary from Forward Demo Account results that can vary from Live Real Money Accounts. Only way to be sure is to use it on a live account.
At specific times each day (using Market Open which can be different for some pairs) a 25 to 40 pip horizontal channel will be created. Entry is made when channel is breached. Stop Loss is at opposing channel side. Take Profit is 1x channel size. If loss occurs, next breach of channel creates next order in sequence at 2x multiplier recovering loss. A close in profit ceases trade sequence and EA resets for next day's trading. 8 consecutive losses ends trade sequence limiting overall trade sequence loss.
Uses mini martingale. Order sequence in loss can be .01, .02, .04, .08, .16, .32, 64 and 1.28 lots in order. Approximately $500 risk for entire sequence when initial order is .01.
This live test is using absolute minimum in account balance to function.
EA is not ready for production (or sale). But I thought I would post results of this version to see if it can pass the milestones I have set for it.
Signals available here if after a month or two, it is doing well, folks can share.
Once account doubles, I will open up for signal subscription. There have been so many revisions over the years that I would have to make major changes to make it available to the public. Provided that this live test is as successful as the back tests...or at least close.
Back tests below use no indicators, only beginning trade sequence at Market Open. Nor do they include any MM. All trades are at base levels. I think if the human mind were added and used when to start a trade sequence and when to increase investment, results would be greatly improved.
8/26/2017 EDIT: I have started the development of an EA for public use and purchase based on this algorithm. FIFO and NFA compliant. Please enter your vote in the poll if interested. This version will allow auto trading based solely on market open (or time of your choice). It will also function as a stand alone straddle trading tool that you can use with your own indicators to channel trade at times of your choice, high volatility and news. It will be announced shortly and available in the MT4 Marketplace.
In preparation for the upcoming release:
Leverage/Equity requirements - your account must be able to handle the following based on minimum requirements:
1:500 Leverage = Approximately $1000.00 per initial lot size of .01.
Potential sequence pattern could be .01, .02, .04, .08, .16, .32, 64 and 1.28 lots in order based if 8 orders in sequence used. Most trade sequences do not require all the available orders to end in profit.
In the upcoming EA, you will be able to select more orders or less in sequence- increasing or reducing equity needed. But I am posting the following to show guidelines for use. Once you have the EA, you can experiment with what works best for your trading strategy. Even though the test results and my personal trading are positive, I designed the EA to be a trader's tool in the toolbox to help those that need to improve profitability in their trading.
1:400 Leverage = Approximately $1200.00 per initial lot size of .01.
1:300 Leverage = Approximately $1400.00 per initial lot size of .01.
1:200 Leverage = Approximately $1600.00 per initial lot size of .01.
1:100 Leverage = Approximately $2400.00 per initial lot size of .01.
1:50 Leverage = Approximately $4000.00 per initial lot size of .01.
If your account leverage and balance is not within these limits, do not subscribe to signals.
EDIT: 8/27/2017 While waiting for the EA to finish coding and testing, I thought I would start posting instructions.
The premise of the EA called FX ROGUE WAVE 6.0 is when placed on a chart, it will establish a horizontal channel with Entry and exit points based on x number of pips from current price. Top of channel a blue line will be created for Long entry point and Bottom of channel will be Red for SHORT entry point. Yellow lines will be created for estimated target close. These lines will move with price action until START button clicked, then the channel will lock in place for duration of trade sequence or until STOP button is clicked.
Using the presumption that the market cannot stay flat for long, it would be a rare occurrence for the market to stay within a 25-30 pip range for a long enough period that 1 of the orders in sequence will eventually catch the breakout and close in profit..FX Rogue Wave does not care what direction the market goes....as long as it goes there!
One order will be placed on chart if an entry line is crossed, LONG order for top entry point being crossed or SHORT order if lower entry point is crossed. Stop loss will be just before the opposing entry point.
If an order closes in loss, the EA will wait until there is a breach of the same or opposing entry point, in which a new order will be opened at a higher lot size based on order value sequence. Sequence will continue until last order in sequence closes in loss, STOP button is clicked, or sequence losses recovered in profit.
User Defined Variables:
OrdersInSequence: Default 8 but no limit. Enter 1 for single trade.
If last order in sequence closes in loss, EA will stop trading and display TRADING OFF
InitialOrderValue –
Value in lotsize for initial order, subsequent orders placed at higher lot size based on RecoveryMult.
RecoveryMultiplier: DEFAULT 2
(if InitialOrderValue =.01, the next order would be .02, then .04, then .08 etc.
ChannelSize: Default 20 Pips
Based on current price (Example: 20 pip channel would create lines 10 pips above/below current price to create the 20 pip channel).
Targetmultiplier: Default 1
Target is multiplier of current channel size. Target of 1 would be 1 x Channel Size or 20 pips. If Target was 2, it would mean target is 2 x ChannelSize or 40 pips. If target was 1.5, it would mean target is 1.5 x Channelsize or 30, etc. When Target is hit, EA closes order and enters TRADING OFF condition.
TrailingStop: TRUE/FALSE
If False, EA closes orders based on Target. If TRUE, EA will not close at Target but initiate Trailing Stop at Target level.
TrailingStopBeginLevel: (This is a value in pips) DEFAULT 2
If TrailingStop = TRUE, trailing stop will be initiated at target level and trail at value entered.
AutoTrade: TRUE/FALSE
If TRUE, EA will initialize as shown in initialization description below, but instead of START button being clicked, a AutoStartTime will be used. If False, EA session begins normally with the START button click only.
AutoStartTime: Default 10:00
MT4 Marketwatch time you would like sequence to be initiated. Can be used for Market open or just prior to a news event.
Slippage: Default 3
Retries: Default 10
1. Number of attempts to place trade if trade platform is busy or other errors occur.
OnscreenText: Color
OnscreenText: Location (top right, top left of chart placement)
OnscreenText: Font Size
ecnBroker: TRUE/FALSE
AutoMagicNumber: EA may be loaded on multiple charts concurrently – this can separate instances so order sequencing and profit calculation can be separate from one another.
Onscreen text will show
a. Title: FX RogueWave version 6.0 – Copyright 2017 – All Rights Reserved
b. ORDER NUMBER: Current Order IN SEQUENCE # 1-x with lotsize shown and next order to be entered with lotsize if loss occurs)
i.Example: “Currently trading order #3 in series at .08 Lotsize, Next order at .16 Lots.”
c. SPREAD: Current spread in pips including decimal point for less than 1 pip.
d. CHANNEL: Distance in pips between the two lines.
e. PROFIT: Profit or Loss of session for EA loaded for that pair only-not based on account balance.
f. STATUS:TRADING ON or TRADING OFF
i.Trading ON when EA is active
ii.Trading OFF (after order as closed in session profit or EA is no longer trading.
INITIALIZATION
Upon being loaded on chart (or STOP button is clicked), EA will be in TRADING OFF status. Lines will be drawn based on channel size and targets and those lines will move following price action. It will not open trades during TRADING OFF status.
It will draw a BLUE LONG entry line at a point above the current price ½ of channelsize.
It will draw a RED SHORT entry line at a point below the current price ½ of channelsize
Order Sequence will be reset to initial lot size as defined in InitialOrderValue variable
When START button clicked, trading sequence will start, TRADING ON will be displayed, lines will lock into position and will wait for entry line to be crossed. When TRADING ON is displayed, the lines are locked to a point to survive a system reboot or MT4 restart.
Initial Order Entry:
1. If price crosses entry line, a corresponding order will be placed.
Long order if Blue line is crossed. Lotsize determined based upon InitialOrderValue variable.
Short order if Red line is crossed. Lotsize determined based upon InitialOrderValue variable.
Order Close:
When initial InitialOrderValue hits target (Yellow Line). Order will close and EA will also stop trading and display TRADING OFF. STOP button should then be clicked to allow lines to start moving again.
Stop loss will be just before the opposing entry point
Re-entry:
In the event of a loss in the initial order and the price action crosses either line, a new order will be opened with a lot size based on next order in sequence. And all above rules in place.
If reversals and losses continue, this cycle will continue with next orders in sequence, until previous losses are regained or final order is used based on OrdersInSequence. If the last order closes in loss, the EA will stop trading and TRADING OFF will be displayed.
When losses are regained on any order that closes in profit, EA will stop trading and TRADING OFF will be displayed. If initial order closes in profit, EA will stop trading and TRADING OFF will be displayed.
If, at any time, the STOP button is clicked. Any open orders on chart will be closed and EA will re-initialize to TRADING OFF and InitialOrderValue.
EA IS NOT A STRATEGY UNTO ITSELF BUT IS A TOOL IN THE TOOL BOX. AS IT USES A MARTINGALE RECOVERY STRATEGY, BY DEFINITION, ITS USE IS HIGH RISK AND CAN BLOW AN ACCOUNT IF PROPER ACCOUNT BALANCE NOT MAINTAINED. AS USER HAS CONTROL OF WHEN EA IS USED THERE IS NO GUARANTEE OF SUCCESS. PAST HISTORY DOES NOT GUARANTEE FUTURE RESULTS. SIGNAL SUBSCRIBER AND EA PURCHASER ASSUMES ALL RISK.
There, got that out of the way. We all know, or should know the risk that Forex carries. I think this EA can be very profitable to those that use it wisely.
EDIT 9/2/2017 With bizarre spikes on broker, large draw down occured that is not indicitve of the system. Broker has credited affected accounts but draw down remains. Will post new data charts and signals next week.
