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Royal Wave Pro

Royal Wave is a Trend-Power oscillator based on a price adaptive algorithm that runs dynamic 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.


Features

  • Super 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
 

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. Run the strategy tester with the default inputs for Royal Wave than change the Alpha to 0.2  ...
  • 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
SymbolTextCurrentThe indicator symbol can be different from its chart symbol.
Sensitivity 0.0 to 1.00.6Makes the oscillator sensitive to local price movements. The closer the value is to one, the more sensitive the oscillator is to the price movements.
Alpha and Beta0.0 to 1.0 Alpha = 0.1
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 higher values of Alpha and Beta.

Smooth Period1 to …5Makes the signal smoother. Enter 1 if smoothing is not required.
Zone Width0 to 5010The vertical distance between both pairs of zone lines. All alerting functions depend on this parameter.
HistogramTrue/FalseTrueDraws the oscillator as a histogram if true or a line if false.
Sound AlertDisable
Enable
Entry Zone Only
Exit Zone Only
Disable

Entry Zone and Exit Zone sound alerts.

Zone FlasherDisable
Enable
Entry Zone Only
Exit Zone Only
Disable

By flashing the zones attracts the trader attention to the proper chart which potentially needs some trading actions.

Phone NotificationsDisable
Enable
Entry Zone Only
Exit Zone Only
Disable

Sends notifications about trade zones to the trader’s phone.

Alert WindowDisable
Enable
Entry Zone Only
Exit Zone Only
DisableUses the MetaTrader alert window to alert zone events
Zone LevelsDisable
Enable
Entry Zone Only
Exit Zone Only
EnableShows zone levels on the chart based on the Zone Width parameter.


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Versão 3.1 2019.04.15
1. Performance improvements and bug fixes