The ForexWave EA is built to trade in one or both directions of the market, you need to have an MT4 account with a broker that allows hedging.
It can be run on several pairs at the same time and it is fully customizable.
This robot is mainly designed to scalp and perform a grid strategy. It will open additional buys or sells when orders are going in the wrong direction.
When opening one or multiple grid orders the expert advisor will automatically calculate the breakeven point and you can set the take profit from this point.
There are 3 different trading types and you can also set specific trading hours.
For additional information you can contact me through MQL5
- There is no minimum account size to use this expert advisor but I recommend at least 100$ although depending on the settings it can be considered as high risk.
- It is always recommended to have low spreads in Forex for best results.
- A period of testing should be conducted to optimize all parameters as they would be different for each currency pairs.
- Choose in which trading session you want the ForexWave to operate or you can leave it running on all trading sessions.
- There are 3 trading types which you can select to run the EA.
- Let it roll : This technique will continue trading even when the Initial TP, the SL or the Grid Order TP is reached.
- Stop trading day (Grid TP/SL) : When you set a specific trading time, if the Grid Order TP or the SL is reached, the EA will close all orders and resume trading only on the next day.
- Close all and restart : If the buy or the sell reaches the Grid Order TP or the SL, the
EA will close all open orders but it will reopen a buy and a sell with the initial lot size.
- TradingType : Let it roll / Stop trading day (Grid TP/SL) / Close all and restart
- Initial Trade Base : Originally set to BUY & SELL
- Initial Lot : Desired initial lot size
- Lot Multiplier : Set the multiplier for subsequent orders
- Grid Step : Step in pips to open grid orders
- Hidden Exit : The take profit is hidden to the broker when set to true
- Initial TP : Desired take profit in pips
- SL : Desired stop loss in pips from the initial order (note that this setting will close all open orders in that direction,
initial + grid)
- Grid Order TP : Desired take profit in pips from the averaging point of the initial and grid orders in the same direction
- Magic Number : Set a different magic number for each pair used
- Slippage : Set maximum slippage
- Max Trades Buy : Set the maximum of buy orders to open from the grid system
- Max Trades Sell : Set the maximum of sell orders to open from the grid system
- Comments : EA comments
- (-) : Profit Trade Base On Account Currency
- Amount Of Total Profit Both Side : Set at 0.0
- Filter Trading Time : Enable if you want the expert advisor to trade only between a specific period of time
- Time Start : The start time of the expert advisor
- Time End : The end time of the expert advisor
- Close Order On Time End : When set to true all orders will be closed at the end time
- Filter_MaxSpread : Set to false
- Max_Spread : Default 5.0