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.
- 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
If you're not reading this from mql5.com click here. Some fraudulent websites are selling a demo version of this indicator. Users will not be able to use it on live charts. They're selling it using bitcoin or other cryptocurrencies to stay untraceable.
Please watch the tutorial video at end of this description then read the "What's new" section of this page to learn more about the
latest updates and improvements.
Report any bug or issue using the MQL5 messenger or the contact methods here.
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.
|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.|
|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
||true / false||
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