Royal Wave XPro
Royal Wave is a Trend-Power oscillator which has been programmed to locate and signal low-risk entry and exit zones. Its core algorithm statistically analyzes the market and generates trading signals for overbought, oversold and low volatile areas. By using a well-designed alerting system, this indicator makes it super easier to make proper decisions regarding where to enter and where to exit trades.
- Trend-Power Algorithm
- Low-risk Entry Zones and Exit Zones
- Predictions for Overbought and Oversold areas
- Rich Alerting System ( Sound Alerts, Phone Notifications, Zone Flasher, ... )
- Oscillator range from 0 to 100 makes it easy to understand the signal
- Multi-Timeframe and Multi-Currency Analysis
- Signal Matrix
- Cross Window
- No Repainting
- Please don't hesitate to contact me directly if you have any question or difficulty related to this product. You will get instant responses to your questions sent through MQL5 messenger or other contact methods specified here.
- Watch the tutorial video at the end of this description.
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Trend and Power
The value of the oscillator represents the current power of the trend which oscillates between 0 and 100. When the power is rising, a yellow color indicates a strong uptrend and a blue color indicates a strong downtrend. A decreasing power shows consolidation which means there is no trend in the price and the trader should wait for the entry zone.
Gives an informative view of several symbols vs all timeframes in one matrix. Each cell of this matrix is a brief representation of a symbol’s price behavior from a single timeframe.
See and compare data from an arbitrary symbol and timeframe within a chart with a different symbol and timeframe. This tool can be used to develop multi-symbol and multi-timeframe strategies.
- Use different values for Alpha and Beta. Test both 0.1 and 0.2 values for Alpha on different timeframes.
- Alerting functions, Signal Matrix, and Cross Window might not work in the test process properly. it's the MetaTrader restrictions for playing sounds and drawing objects in the strategy tester.
Use this input to set different Symbols or Timeframes for the indicator. For example, on a EURUSD chart you can write USDJPY, H1 for the input. By adding a minus sign before the name of the symbol like -USDJPY, H1, Royal Wave will use the inverse of USDJPY which is JPYUSD. Symbol inversion makes it possible to have the same base currency or the same quote currency for the both chart and the indicator.
Sensitivity [0.0, 1.0]
This input makes the oscillator sensitive to local price movements. The closer to one, the more it gets sensitive.
Alpha and Beta inputs [0.0, 1.0]
To catch longer trends and for noise canceling increase these inputs. For getting the overall trend add a second Royal Wave with a higher timeframe or with higher values of Alpha and Beta.
Makes the signal smoother. Enter 0 if smoothing is not required.
When using Royal Wave on multiple displays/charts, by color-flashing on entry and exit zones it draws your attention to the chart which potentially requires some trading action.