I am offering this Free trial under the conditions found in the attached user guide and you agree it will only be used on a single instance of Metatrader version 4 (build 600 or later). By using this EA, you understand and acknowledge that it will only function on a demo account.
The premise of the EA is when placed on a chart, it will establish Entry and exit points based on the Highs AND lows of an established number of candles in the past. These entry points will lock in place until the EA is reset or certain conditions are met.
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 or value in pips as set in the user defined variables (whichever is less).
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 the same or higher lot size based on order value sequence below. Series will repeat until last order in sequence closes in loss, EA is removed from chart, or losses recovered.
In the spirit of A Simple London Breakout V.2 and 7am-9am Big Dog USD Breakout Strategy, these forums here at FF provided the inspiration to create FX Rogue Wave. Enjoy the free trial that will last as long as you like on a demo account.
How and when FX Rogue Wave can be used based on included set file.
The EA itself is nothing more than a tool that when placed on a chart, will draw BUY and SELL entry lines just above and below the previous candle highs and lows creating a horizontal channel.
If price action crosses one of these lines, a corresponding order will be placed using the value set in OrderValue1 with a new yellow line being drawn on chart to show where TP will be.
Take Profit is equivalent to 1 times channel. If the channel is 20 pips in size, TP will be 20 pips.
Stop loss is equivalent to 1 times channel minus spread. If channel is 20 pips and spread is 3, the SL will be set at 17 pips.
If order #1 reaches the yellow line, it will close in profit and EA has completed its session. No further trading will take place until it is reloaded.
If order #1 reaches stop loss, order #1 will close and EA will wait until there is a new entry line crossing. Then it will open order #2 at value entered in OrderValue2.
This cycle will continue until order closes in profit or last order in sequence closes in loss. Then EA will stop trading, display “TRADING OFF”.
Best method to load EA on chart.
Drag the EA onto the chart. ( I use a Hot Key myself)
The user settings screen will pop up.
The settings shown here will load the EA, but not in trading mode. You can use this screen to change the setting in CandleLookBack to specify the channel you would like the EA to follow. This also will reset the EA’s memory from the previous time it was loaded.
Click ok.
The EA is now loaded and “TRADING OFF” should appear. Also, the size of the current channel and spread will be displayed.
If you are happy with the way it looks, you can then load the set file. This set file uses “model” 1 as described earlier in the manual. In short, model 1 will remember the order sequence and channel location in the event of an MT4 client reset.
Just remember to match the CandleLookBack setting you initiated the EA with in the first phase so it will match.
Click ok.
Now the EA is loaded and TRADING ON should appear.
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The premise of the EA is when placed on a chart, it will establish Entry and exit points based on the Highs AND lows of an established number of candles in the past. These entry points will lock in place until the EA is reset or certain conditions are met.
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 or value in pips as set in the user defined variables (whichever is less).
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 the same or higher lot size based on order value sequence below. Series will repeat until last order in sequence closes in loss, EA is removed from chart, or losses recovered.
In the spirit of A Simple London Breakout V.2 and 7am-9am Big Dog USD Breakout Strategy, these forums here at FF provided the inspiration to create FX Rogue Wave. Enjoy the free trial that will last as long as you like on a demo account.
How and when FX Rogue Wave can be used based on included set file.
The EA itself is nothing more than a tool that when placed on a chart, will draw BUY and SELL entry lines just above and below the previous candle highs and lows creating a horizontal channel.
If price action crosses one of these lines, a corresponding order will be placed using the value set in OrderValue1 with a new yellow line being drawn on chart to show where TP will be.
Take Profit is equivalent to 1 times channel. If the channel is 20 pips in size, TP will be 20 pips.
Stop loss is equivalent to 1 times channel minus spread. If channel is 20 pips and spread is 3, the SL will be set at 17 pips.
If order #1 reaches the yellow line, it will close in profit and EA has completed its session. No further trading will take place until it is reloaded.
If order #1 reaches stop loss, order #1 will close and EA will wait until there is a new entry line crossing. Then it will open order #2 at value entered in OrderValue2.
This cycle will continue until order closes in profit or last order in sequence closes in loss. Then EA will stop trading, display “TRADING OFF”.
Best method to load EA on chart.
Drag the EA onto the chart. ( I use a Hot Key myself)
The user settings screen will pop up.
The settings shown here will load the EA, but not in trading mode. You can use this screen to change the setting in CandleLookBack to specify the channel you would like the EA to follow. This also will reset the EA’s memory from the previous time it was loaded.
Click ok.
The EA is now loaded and “TRADING OFF” should appear. Also, the size of the current channel and spread will be displayed.
If you are happy with the way it looks, you can then load the set file. This set file uses “model” 1 as described earlier in the manual. In short, model 1 will remember the order sequence and channel location in the event of an MT4 client reset.
Just remember to match the CandleLookBack setting you initiated the EA with in the first phase so it will match.
Click ok.
Now the EA is loaded and TRADING ON should appear.
Attachment
Attachment
