Super Waves is a multi-purpose diverse and multi-functional Expert Advisor, despite its simplicity. The Expert Advisor is based on the indicators: Elliott Wave and Zig Zag. The indicator parameters were not chosen randomly, but by using the calculations of the professors of the higher mathematics. Thus the optimum values were found, which predict the price movement with high probability.
The essence of the operation is reduced to the following - the EA analyses the market movements and predicts the most probable points of the local Highs and Lows of the market, and when the two indicators converge at a single point, the indicator automatically opens buy (if a local Low was formed) or sell (if a local High was formed) orders, and at the same time closes the orders that had been opened before, because the market is predicted to go in the opposite direction. You can see that on the screenshot. The Expert Advisor works very well for scalping, middle-term and long-term. Usage variations of the EA can be numerous. When you install and use it in your trading system, I will certainly help you with the consideration of your strategy and your currency pair or other instruments.
You can place both buys and sells - the EA will automatically perform buys and sells and automatically close the previously opened order. You can place only the buys, then the EA will only buy on the timeframe you selected. The same is with sells.
Some tips: If you trade using pipsing (scalping), it is better to have a pair with low spread. This is for 1 minute, it is not necessary for 5 minutes. The more volatile the market, the more advisable it is to select a higher timeframe for the EA operation. Conversely, the less volatile the market, the better it is to choose a lesser timeframe. The Expert Advisor works very well on the EUR/CHF pair with the timeframes H1 and H4
The EA calculates the market movement with high validity according to all the rules of the "Elliott wave principle" mathematical model. Correctly recognizes the waves and their levels, whether it is a wave correction or an impulse movement of the market. In its practical purpose the Expert Advisor determines the pivot points of the market, which are best suited for entering trades, and makes trades accordingly. The wave law fits perfectly in this sense. If the market is analyzed using the Elliott wave principle, it is possible to determine the change in the psychology of market participants, predict their upcoming sentiment and make the right decisions. The Elliott wave principle provides insights into the mechanism that drives the exchange rates, and is quite a powerful weapon in the arsenal of every trader.
- Trade Mode - the direction of trading. Select either 'Long and Short' or 'Short only' or 'Long only'
- Comment - comments to orders
- Magic - magic number, if 20151223 then it works only with its own orders; if 1 then it works with all orders opened both manually and automatically; if 0 then it works only with the manually opened orders.
- Close by Signal - if true - it will close orders at reverse signals; if false - then it will not close orders at reverse signals (in that case the closing of orders is performed manually).
- Fix Lot - specify the lot you want orders to work with.
- TP - specify take profit in points.
- SL - specify stop loss in points.
- TF - specify the timeframe you want the EA to work on.
For the visual representation of the EA operation, attach the ZigZag (12; 5; 3) and the Elliott wave (21; 13; 8;1) indicators to the chart with these parameters!
They should be attached as the operation of the EA itself is not visible.
In the screenshot you can see how the automatic BUY or SELL position opening happens when the two indicators are combined (Elliott Waves - blue lines, Zig Zag - red lines). The automatic closure of the order happens at the same time.
An important advantage of the EA is that the DC does not see when the order is opened and closed!
I express my gratitude for the participation in the creation of the Expert Advisor to the programmer Alexander Gavrilin.
If you have any questions, contact me!