Automatic trading advisor, which implements a medium-term trading strategy based on the theory of wave movement of the market
Advisor does not use martingale, grid, averaging, scalping
The advisor is based on the application of wave analysis to historical data and the search for waves predicting the price movement in the future. Using a longer period of time repeating patterns are searched for. Using a smaller period there is an approximation and interpolation of nodal points and refinement of patterns. At the end an extrapolator is used to make predictions based on both periods. The extrapolator data is used to find three waves of different periods. Using the extrapolator data, the Expert Advisor trades on the forward period. The robot trades by placing limit orders on the borders of the price channel according to the extrapolator.
The real signal is at the link (includes: project phoenix ea and manual trading)
- The use of limit orders. What gives positive slippage
- Permanent work of the Expert Advisor. There is no need to wait for news to trade, or for some events.
- In contrast to scalpers, Project Phoenix works in the medium term and tries to capture the entire price movement, not part of it.
- The Expert Advisor is not sensitive to spreads and does not require fast execution of trade orders
- Time of position holding - from several hours to several days
- The Expert Advisor does not use Take Profit and closes orders using the trading system conditions. Thus it does not limit the possible profit, capturing more price movements
- Each order is strictly tracked by the trading system and a protective stop loss is set for each of them separately
- The main expert advisor settings and wave forecasts are visualized on the chart for interactivity and convenience
- There are two parameters to optimize for the beginning of trading
Like any trading expert, the Expert Advisor makes forecasts using past data. Therefore, for stable work, you should not risk all the money in your account and put a huge risk in a trade in order to get rich quick in a short period of time. Use small lot sizes. Consider possible drawdowns.
Any currency pair, but preferably EURUSD, H1 timeframe
The Expert Advisor has a built-in error-recognition system and can display warnings or error messages.
- GMT - your broker's GMT (drop-down menu to select)
- Start of trading within the current wave - trading within the current wave or starting with a new wave
- Stoploss - stoploss size for orders, in five decimal points (values 600 to 800 points)
- Deviations, % - the parameter for adjusting deviations for setting limit orders from the current price, it is possible to set from 25 to 100 points (from 1 to 3%)
- Magic number - identifier of orders
- Commentary string - commentary on the orders
- Fixed lot - fixed lot size
- Auto lot - enable automatic calculation of lots from equity
- Risk, % - risk per order if automatic Auto lot calculation is enabled
- Lot coefficient - coefficient for the lot calculation when Auto lot is enabled (from 0 to 1)
- Send Alert - display notifications on the screen when placing or closing orders
- Send notifications - to send notifications when placing or closing orders
- Show parameters on chart - show parameters of the Expert Advisor on the chart
- Parameters frame fill color - show fill color for the panel on the chart
Some notifications appear even when Send Alert is disabled (these are service notifications)
When you install a trading advisor on the chart, depending on the settings, it will either wait or start immediately. This is controlled by the parameter Start of trading within the current wave, read more here
If you have any questions, please contact me via personal messages on the website. I only respond here. I do not have any additional channels of communication. The original trading advisor is presented only here.
A quick guide is available on the blog
Most of the settings are adjusted by the extrapolator on the author's side. The Expert Advisor is not self-optimizing and requires adjustment from time to time based on the current market situation.