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Royal Wave MT4

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.


  • Super Trend-Power Algorithm
  • Low-risk Entry Zones and Exit Zones
  • Predictions for Overbought and Oversold areas
  • Rich Alerting System ( Sound Alerts, Phone NotificationsZone Flasher, ... )
  • Oscillator range from 0 to 100 makes it easy to understand the signal
  • Multi-Timeframe and Multi-Currency Analysis ( Pro Version Only )
  • Signal Matrix  ( Pro Version Only )
  • Cross Window ( Pro Version Only )

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. Find simultaneously oversold or overbought areas from several timeframes to enter reversal trades on Exit Zones.   

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.  

Product Test Recommendations

  • Use different values for Alpha and Beta input parameters. For example, run the strategy tester with the default inputs for RoyalWave than change the Alpha to 0.2  ...
  • Sound Alert, Zone Flasher, and Notifications will not work in the test process. It’s a MetaTrader restriction. Please keep these parameters disabled while testing because it slows the indicator down during the fast drawing for the test.

Input Parameters

Parameter Name

Default Value
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 input parameters. 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.
Notice that high values of this parameter make the oscillator lags.
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 Alert Disable
Entry Zone Only
Exit Zone Only

Entry Zone and Exit Zone sound alerts.

Zone Flasher Disable
Entry Zone Only
Exit Zone Only

When trading using more than one monitor, Zone Flasher by flashing the zones attracts the trader attention to the proper chart which potentially needs some trading actions.

Phone Notifications Disable
Entry Zone Only
Exit Zone Only

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

Alert Window Disable
Entry Zone Only
Exit Zone Only
DisableUses the MetaTrader alert window to alert zone events
Zone Levels Disable
Entry Zone Only
Exit Zone Only
EnableShows zone levels (borders) on the chart based on the Zone Width input parameter.
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Версия 3.1 2019.05.01
1. Performance improvements and bug fixes
Версия 3.0 2019.03.22
1. Performance improvement
Версия 2.2 2019.01.14
1. Indicator oscillation range changed to [0, 100] for easy reading
2. Performance improvement and bug fixes
Версия 2.1 2018.12.03
1. Trend detection algorithm has been improved which make the indicator to show a very low noise trend color coding.
Версия 2.0 2018.12.01
1. Rich Alerting System (Phone Notifications, Sound Alerts, Zone Flasher, ...) added.
Версия 1.2 2018.11.28
1. Daily and higher timeframes drawing problems have been fixed.