(binned per thread starter’s request) FX Rogue Wave 6.0

Can't say it was a good week, but our test of limiting to 4 orders in sequence showed that it can lose more often but can be recovered. I will be reverting back to 7 orders in sequence, but I still believe with proper placement, all 7 orders should not get used but once every few months. Back test still show 8 orders or more being best for Auto Trading, but as I choose the conditions to start the EA, risk can be mitigated somewhat.

Metatrader 4 market release of FX Rogue Wave 6 is soon approaching. Their testing and proofreading is impressive and much more comprehensive than I originally thought. We have passed the coding validation and now awaiting final approval. Stay tuned.

I am adding the SuperJolt Money Lanes indicator to my charts to use with my straddle trader and see how it does. https://www.forexfactory.com/showthread.php?t=558372

Looking for a flat period when the channel is offset and then use the Money Lanes for MA confirmation.

Removed the free DEMO signal from post #1. Since the EA itself is available for Demo, the signals seemed redundant.

Actually, other indicators just get in the way IMHO at least until I find one or design one that correlates to my theory . The purpose of Rogue Wave is to catch the waves. You cannot have a wave, until you have a period of calm. Wait for the calm, then the wave will appear. The longer the period of calm, the larger the potential wave. Similar to Bill Williams Alligator theory.

The Expert Adviser can be purchased at the Metatrader Market.

https://www.mql5.com/en/market/product/25468

Was a little nervous as a couple of my order sequences got into the 6th order out of 7. But, they cleared in profit. So all is well and reverted back to 8 order sequence that correlates with the win rate of the back tests.

Now that the investment in creating a production quality EA has been made and I am proud to report that the EA is now published on the Metatrader Marketplace. I think I can now close the Poll. Thank you for your votes. There were not many, but that is ok. The ratio showed that more were interested in purchasing an EA than subscribing to signals.

May not mean much to some. But I am proud of it.




Don't forget that the free demo version is on post #1

OK - The GBPJPY is too nerve wracking for me. It closed in profit on the 6th order in sequence, but I do not like my sequences going that high.

Profitable week though.

In a martingale recovery system, it always wins...until it doesn't. Since the object of the exercise is to limit sequence losses, I am increases the channel size to 40 pips, I am still keeping a maximum order to 8 in any given sequence. The increase in channel size does increase the amount lost when the 8th order closes in loss from $785 to $1020 (approximate with pip value).



The back test data below shows the number of losses in a 2 year period. I will limit trading the pairs to the times shown in green where 2 losses or less occured on a pair. The back test only uses start time without any other indicators. I will still choose the entry points with the START button and the offset channel after a period of calm. I also like to manually close orders based on chart conditions. That is where the STOP button comes into play. As long as I am in sequence profit, I'll pocket my winnings and wait for the next trade setup.

MQL Data
8 Order Sequence
1 Pip spread (10 points)
40 Pip Channel
39 Pip Stop Loss

I don't know if offering signals will be of any value to me. It did not score high in the poll. And it added a degree of stress to my personal trading. I may shut them down or increase the price just so folks understand the risks involved. Now that the EA is published, I think those that enjoy a Martingale might have some fun with it. And those that do not enjoy a martingale could benefit from simple guideline trading. Signals are a fun way to share, but subscribers need to understand that this is a gambling algorithm. Someone that is not willing to gamble along with me need not subscribe. No harm, no foul. I have provided the EA and folks can learn how to use it and I hope have a lot of fun with it.

I think next week, I will start a series of videos of trade entries.

I enjoy trading it myself and have no illusions of becoming rich from selling my idea. But it is a good feeling to have something published and looked at from people all over the world. 2 days, 31 downloads from 17 countries. Cool stuff!


https://www.mql5.com/en/market/product/25468

Here is an interesting indicator I found here on FF to help determine channel size.

Wait for a calm period and adjust the Average Candle indicator for the number of candles of the calm period to determine your channel size. Instead of using an arbitrary number of pips to select a channel size, this may give more control and open up more trading opportunities for using the START and STOP buttons.

There will always be a wave pattern after a period of calm. Double the indicator value to create and then alter the channel value of FX Rogue Wave. Just a thought, but I will be using this to check its validity this upcoming trade week.

Typical charts show flat periods followed by strong price movements.
1. Look for charts that have strong patterns of price movements (Waves)
2. look for current period of calm on chosen chart.
3. Load FX Rogue Wave on chart and adjust channel size and stop loss for current period of calm.
4. When price begins to move out of calm period and one of the entry lines is within period of calm, press START.
5. Let FX Rogue Wave do the rest. Or, when profit is shown, click STOP to pocket your pips.

Note: Make sure Auto Trade is set to False for START button to function.

Ready for the week. Note that USD, CAD and JPY are on holiday schedule next 24 hours.

Here is the beginning of a good trade setup on AUDUSD. Chart is calm. Previous candles are within the entry points. I will wait and watch for the price to move one of the entry lines into parity with the calm period and then click the start button.

No Trading today due to holidays. Will wait for Asia open.