FX Rogue Wave 2.1 Mod3 MT4 625 (by ibthescottyb) Quick Stats
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FX Rogue Wave 2.1 Mod3 MT4 625 Discussion
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ibthescottyb

Member Since Oct 08, 2010  407 posts ibthescottyb Apr 08 2014 at 12:21
FX RogueWave 2.0 Breakout Strategy

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 creating a horizontal channel. 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.

ibthescottyb

Member Since Oct 08, 2010  407 posts ibthescottyb Apr 08 2014 at 22:58



Bill Williams Alligator is going to sleep prior to the Asia market open. Let's see how we do tonight?
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ibthescottyb

Member Since Oct 08, 2010  407 posts ibthescottyb Apr 09 2014 at 00:29
This is not the perfect Bill Williams Alligator entry as the alligator is not yet asleep (lines intertwined), but it is before feeding time (a market open - ASIA). No we wait and see what happens. cool

ibthescottyb

Member Since Oct 08, 2010  407 posts ibthescottyb Apr 09 2014 at 00:32



Now we have entered a trade. The new yellow dotted line shows us where the Trailing Stop will begin.
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Professor53

Member Since Dec 15, 2010  795 posts Professor53 Apr 09 2014 at 08:50
Screen shot looks great. Watching the current trade. I predict within 4 days good profit on this EA!!!! LOve how the EA will change direction as needed and doesnt continue the same direction unless indicated. Also like the fact that it is USA and FIFO compatible and a small account can be used. Great for the average joe trader.

Click on my Name to see My Live Charts and Bio.
ibthescottyb

Member Since Oct 08, 2010  407 posts ibthescottyb Apr 09 2014 at 11:25
As I feared, the alligator was not hungry enough and pretty much slept through Asia market. Since that time, the bottom channel was breached twice hitting 15 pip SL. Order #1 at .02, Order #2 at .04 Lot size. Now we wait for order #3 to open during the next breach of entry point at .08 Lotsize.

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ibthescottyb

Member Since Oct 08, 2010  407 posts ibthescottyb Apr 09 2014 at 12:06
Settings for this series:
Max Orders in series: 4
SL: 15 Pips
Trailing Stop Begins: 20 pips
Trailing Stop Percent: 80%

ibthescottyb

Member Since Oct 08, 2010  407 posts ibthescottyb Apr 09 2014 at 13:57
Order #3 in series opened at .4.



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ibthescottyb

Member Since Oct 08, 2010  407 posts ibthescottyb Apr 09 2014 at 13:59
Correction to entry above.

Order sequence
Order#1 = .1
Order#2 = .2
Order#3 = .4
Order#4 = .8

ibthescottyb

Member Since Oct 08, 2010  407 posts ibthescottyb Apr 09 2014 at 14:22



Order #3 closed for a loss. Now we wait for the next breach of the entry lines to see where order#4 will be entered.
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