• Overview
  • Reviews (4)
  • Comments (11)
  • What's new

Royal Wave Pro

Royal Wave is a Trend-Power oscillator based on a price adaptive algorithm that runs statistical analyses on the price movement to predict and locate low-risk entry zones and exit zones. Its rich alerting system generates well-timed trading signals that give the trader enough time to make proper logical trading decisions.

The MT4 version is available here. 

Features

  • 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 Repaint


Important!

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  • 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.
  • Don't forget to subscribe to my youtube channel.
  • Read the What's new section of this page to learn more about the latest updates and improvements.


Entry Zones

Once the oscillator value is about zero it means there’s going to be a big movement in the price in the near future because traders in most timeframes are agreed on the current price and have united to move the price by a big step in one direction. Therefore Royal Wave tries to predict low-risk entry zones where price wants to move only in one direction until the oscillator reaches the exit zone. Entry zones are always going to be the close enough start of a big movement in the price.
 

Exit Zones

Once the oscillator is in the exit zone close to 100, it’s predicting an overbought when the color is yellow or an oversold when the color is blue. This zone can be used to exit a trade or update a stop loss level because of the high probability of reversals in these areas. 

Exit Zone points are potential candidates to be global reversal points in a trend. By using the Royal Wave Signal Matrix, some of these areas can be identified as low-risk areas to enter a reversal trade.  


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.  


Signal Matrix

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. 


Cross Window

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.


Test Recommendations

  • Use different values for Alpha and Beta. Test both 0.1 and 0.2 values for Alpha on different timeframes.
  • Alerting functionsSignal 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.


Input Parameters



       Parameter Name                      
    
         
 Type/Range                

 Default Value                   
Description
Symbol, Timeframe  Text
 The indicator symbol and timeframe can be different from its chart symbol and timeframe.
Sensitivity  0.0 to 1.0  0.6  Makes the oscillator sensitive to local price movements. The closer to one, the more sensitive the oscillator gets.
Alpha
Beta
 0.0 to 1.0  Alpha = 0.2
 Beta = 0.05

To catch longer trends and for noise canceling increase Alpha and Beta. To get a global conformation for the trend you can add a second Royal Wave with a higher timeframe or higher values of Alpha and Beta.

Smooth Period  1 to …  5  Makes the signal smoother. Enter 1 if smoothing is not required

  1. Sound Alert
  2. Zone Flasher
  3. Push Notifications  
  4. Email
  5. Alert Window
     true / false

    1. Entry Zone and Exit Zone sound alerts
    2. By flashing the zones attracts the trader attention to the proper chart which potentially needs some trading actions
    3. Sends notifications about trade zones to the trader’s phone
    4. Sends alert emails
    5. Uses the MetaTrader alert window to alert zone events


    SamitR
    549
    SamitR 2020.04.25 09:23 
     

    Hello, just wanted to let you know that I am very happy with your indicator, I think this is worth every bit of the price....amazing job

    presley meck
    57
    presley meck 2020.04.14 22:43 
     

    I'm satisfied

    ebi1449
    81
    ebi1449 2020.03.19 18:30 
     

    User didn't leave any comment to the rating

    Lev Vladimirovic Marushkin
    1619
    Lev Vladimirovic Marushkin 2019.10.07 21:29 
     

    This one is now my main indicator for trading! Very accurate! Backtest on chart feature is priceless! Thank you Ehsan!

    Version 4.2 2019.10.15
    Minor bug fixes
    Version 4.1 2019.10.08
    Minor bug fixes
    Version 4.0 2019.10.07
    1. Multi-timeframe not only for the Cross Window but for the oscillator itself. Input the first parameter, for example, GBPUSD,H1.
    If you want to have a higher timeframe Royal Wave indicator in the current symbol just input the timeframe, for example, write H4.

    2. Symbol Inversion. you can now use the inverse of a symbol. Write it as, for example -EURUSD or -*CAD or -USD*). Adding a – sign before the name of a symbol makes it inverse. This way you can have the same base currency or quote currency for all signals in the Signal Matrix.

    3. Better alerting settings

    4. Email alert

    5. Bug fixes and performance improvements
    Version 3.2 2019.06.07
    1. Performance improvements
    Version 3.1 2019.04.15
    1. Performance improvements and bug fixes