FX Rogue Wave 2.3 Discussion

JUst think what money management would do for it!! It would accelerate faster.

  THe avg joe could afford a $200 start up account perhaps!

Well - the end user can put in whatever they choose. The individual should have control over their own money. At least in my humble opinion 😄

EA now available - visit www.fxroguewave.com for more information on the FREE trial.

Several things Im liking about this www.FxRogueWave.com EA :

1. It runs on a USA broker if needed
2. It trades one trade at a time, win or lose.
3. It doesnt need to hedge to prevent a blown account. It has SL for safety.
4. Its not a grid.
5. I can trade manually with it lookinig at my own charts or on full auto.

The best for last:

6. It can be traded on a small account by the average Joe with a family, without breaking the bank.

***NEW VERSION ALERT***

FX Rogue Wave 2.3 now available. This version has a new entry. Time can be set for the EA to initialize at the same time each day. That was how the back tests above were performed. The results were good, but I still believe the EA should be placed manually for better results based on a set of conditions like the Bill Williams Alligator or some other indicator that shows stability before a market open or news event.

Happy Trading!

Free Trial posted here

Yea.... More wins!!

Join the discussion - here or at https://www.forexfactory.com/showthread.php?p=7450476#post7450476

Professor53 posted:
Several things Im liking about this www.FxRogueWave.com EA :

1. It runs on a USA broker if needed
2. It trades one trade at a time, win or lose.
3. It doesnt need to hedge to prevent a blown account. It has SL for safety.
4. Its not a grid.
5. I can trade manually with it lookinig at my own charts or on full auto.

The best for last:

6. It can be traded on a small account by the average Joe with a family, without breaking the bank.

Thank you! I like the fact that I only need to set it once per night and wake up to profits. Not bad for a few minutes of work

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. FX Rogue Wave is now waiting for an entry line to be crossed to enter its first trade in sequence. ENJOY.

Well, last night's trade just go to show how important proper usage is. In this case, I placed it on a bad position. I was out and loaded the EA from my smart phone. It did not look bad from the small screen, but obviously I was wrong. However, the EA did what it was told...lol

At least my other account recovered from the same trade - amazing what a 1 pip difference in spread can do.

Was able to recover about 1/2 percent on this mornings EURUSD breakout using CandleLookBack of 1 to trade the current candle

TOday we have a small profit trade building and its the best color...GREEN! Go Green!

***NEW VERSION ALERT***

Version 2.4 is available by request. This version functions the same as previous versions, but gives a visual reference point of exits (In yellow). By viewing possible exit prior to allowing the EA to trade, you will be able to see if your planned settings are feasible for current market conditions.